The sales and services tax (SST) hike is not expected to cause sharp price increases that would lead to an economic shock, says the Finance Ministry. The statement also noted the 2% increase would affect discretionary activities and business-to-business services, while key essential services such as food and beverage, telecommunications, parking and logistics are exempt.
Meanwhile starting March 1, electricity users over 600kWh will be affected by the sales and services tax (SST) hike from 6% to 8% among other services. The increased SST is set to generate an additional RM3bil revenue, said the Finance Ministry
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ministry of Finance: TCM practitioners exempted from 8pc service taxPUTRAJAYA, Feb 19 — Traditional and complementary medicine (TCM) practitioners who are registered under the T&CM Act 2016 [Act 775] will be exempted from the eight per cent...
Source: malaymail - 🏆 1. / 86 Read more »
Former Finance Minister files lawsuit against MACC chiefFormer Finance Minister Tun Daim Zainuddin has filed a lawsuit against Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki. Daim has filed for an injunction against Azam, claiming that the chief commissioner's actions were wrong. Azam explains that he signed almost all of the declaration of assets documents to compel individuals to declare their assets. The MACC will look into improving its methods for compelling individuals to declare their assets.
Source: staronline - 🏆 4. / 75 Read more »