Nestle to pass on sales tax savings to retailers on GST implementation

Nestle (Malaysia) Bhd says it supports the impending implementation of the Goods and Services Tax (GST) and is in full compliance with the Anti-Profiteering Act 2011.

Managing Director Alois Hofbauer said following the introduction of the new tax regime on April 1, savings made on its products would be passed on to its retail partners, as Nestle does not sell its products directly to consumers.

He said Nestle would officially announce its revised product price list to retailers sometime next week.

"We are still in the midst of finalising the details. Prices will depend on the product itself as some have a higher sales tax while others have a lower sales tax.

"At the end, the retailers are the ones who will set the prices for consumers," he told reporters after the launch of the 'Lebih Nilai, Lagi Hebat' promotional campaign officiated by Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek.