Trader are only allowed to organise four (4) special sales a year starting in 2017
Under the new rules starting from January 1, 2017, traders and retailers are allowed to hold just four mega sales a year, compared to five times previously. Three of the new sales dates are to be set by the Government while another on a date of their choice. The purpose of making this change is to draw more tourists to the country by standardising the sales periods.
Three of the four annual sales will be determined by the Government which are the:
a) early year sale from March 1 to 30
b) 1Malaysia mega sale carnival from June 15 to August 31
c) 1Malaysia year-end sale from November 1 to December 31
d) Traders can determine the fourth sale period themselves.
Under the new rules, the maximum penalty for non-compliance includes fines up to RM100,000 for body corporate and organisation and RM50,000 (or imprisonment up to 3 years) for individual. For second or subsequent offence, the penalties include fines up to RM200,000 for body corporate and organisation and RM100,000 (or imprisonment up to 5 years) for individual.
Though there will be lesser sales in a year, the new rules also states that discounts must be a minimum of 10% based on the lowest price of the item over a three month period. Furthermore, a minimum of 50 percent of all items available at the premises must be offered for sale.
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