Sales and Services Tax

The government is studying the feasibility of the re-implementation of the Goods and Services Tax (GST) or other consumption tax models.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz says widening the Sales and Services Tax (SST) is one of the many options available to expand the governments revenue base.

It said it is easy for the public to spot the scam as all SST matters are handled not by LHDN but by another agency.

he prices of goods are expected to be stable, says Deputy Finance Minister, Datuk Ahmad Maslan.

The government will not compromise with those traders deceiving consumers by raising the price of goods by adding the Sales and Services Tax (SST) even after imposing GST.

Traders who took advantage of the Goods and Sales Tax (GST) to raise prices of goods are economic saboteurs, said Deputy Finance Minister Datuk Ahmad Maslan.

Malaysia will be on its way towards a fairer and more efficient tax system, joining 169 countries in the world which have implemented GST.

Deputy Finance Minister Datuk Chua Tee Yong brushed aside a suggestion that the GST has caused some traders to close shop.

Beginning April 1, FOMCA will take it upon itself to monitor prices for basic goods when the GST is implemented.

Malaysia currently imposed the CGT only on capital gains from the sale of real estate known as the Real Property Gains Tax.

Najib said Malaysia cannot sustain its growth and development based on current revenue streams alone.

Prime Minister Datuk Seri Najib Tun Razak announced the introduction of the GST and proposed the abolition of the sales and services tax to make the Malaysian economy more resilient.

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