SST

The Ministry of Finance states that the average annual SST collection was 51.6% lower than GST due to the smaller scope of the SST.

Datuk Seri Fadillah Yusof said it is because there are pertinent issues, such as who is entitled to exemption, that needs to be discussed.

The additional revenue from sales and service tax (SST) expansion to 8.0 per cent from 6.0 per cent effective March 1, 2024 can benefit the rakyat

Prof Emeritus Dr Barjoyai Bardai said Malaysia fell behind Singapore and Thailand and is struggling to catch up.

Datuk Seri Ahmad Maslan said the government will implement the taxes as mentioned in Budget 2024 next year.

According to Budget 2024, the govt plans to increase SST rate to 8.0 pct, not inclusive of services such as F&B and telecommunications.

Datuk Seri Anwar Ibrahim said tax collected by the govt is one of the lowest in ASEAN at 11.8 pct of GDP compared to Singapore and Thailand.

Despite the differences in structures, both the SST and GST offer an important fiscal tool to fund government programmes and projects.

The government is not disputing the goods and services tax (GST), but rather the timing to implement it, says Deputy Finance Minister Steven Sim.

Projects that have been awarded SST will not be cancelled even if they were done via direct negotiations, said Transport Minister Anthony Loke Siew Fook.

The current SST exemption for the purchase of vehicles which was first announced on June 5, 2020 has resulted in the loss of RM4.8 billion in revenue to date.

The GST is better than the SST because the GST widen a country's tax base and brings in more revenue, said the World Bank Group lead economist Dr Apurva Sanghi.

With the twin shocks of increased spending and economic downturn, Malaysia is in sore need of funds to replenish its depleted coffers.

Fadillah said it was the ministry's effort in implementing the economic recovery agenda for the construction sector.

Fadillah said this included improving the people's infrastructure in terms of connectivity, comfort and safety.

Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.

The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.

KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.

Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.

The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.

The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.

The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.

Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.

For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.

The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.