17 May '18, 12pm

SST will be back, but no date given by MoF - will car prices go back to pre-GST April 2015 levels?

SST will be back, but no date given by MoF - will car prices go back to pre-GST April 2015 levels?

Yesterday’s announcement by the new government that the goods and services tax (GST) is to be set at 0% on June 1 did not mention the sales and services tax (SST), which is the tax regime used before GST kicked in on April 2015. Replacing GST with SST was one of Pakatan Harapan’s main election promises. The announcement of zero-rating GST without mentioning SST led to uncertainty and no shortage of speculation, including one claiming that there will be no tax for the first two years of the PH administration. That has been denied by the ministry of finance (MoF), which released a statement touching on fiscal reform and SST this morning. It’s a brief explanation on how the country will cope without the significant revenue contribution from GST, which stood at RM44 billion in 2017. According to the MoF, the fiscal reform programme is underway. “The shortfall from GST which is...

Full article: https://paultan.org/2018/05/17/sst-will-be-back-but-no-da...

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