PETALING JAYA: The Finance Ministry has clarified details regarding the expanded Sales and Service Tax (SST), specifying that the 5% tax is levied on goods manufactured locally and on imports. "If the fruits are imported, they will be subject to the 5% sales tax," the Ministry stated. However, it confirmed that locally grown fruits are exempted...
PETALING JAYA: Students who graduated with first-class honours and are hoping to obtain loan exemptions from the National Higher Education Fund Corporation (PTPTN) will have to wait a while longer. PTPTN told The Star that its website service for first-class honours loan exemption applications is currently unavailable as it awaits approval from the Finance Ministry. “PTPTN has...
PETALING JAYA: The expansion of the Sales and Service Tax (SST), initially slated for May this year as announced in Budget 2025, will be implemented at a later date, says a Finance Ministry spokesman. “The ministry has completed its nationwide engagements with multiple industries to finalise the scope of the expansion and the applicable tax rates. ALSO...
PETALING JAYA: The expansion of the Sales and Service Tax (SST), initially slated for May this year as announced in Budget 2025, will be implemented at a later date, says a Finance Ministry spokesman. “The ministry has completed its nationwide engagements with multiple industries to finalise the scope of the expansion and the applicable tax rates. ALSO...
PETALING JAYA: The Finance Ministry has no plans to increase the RM9,000 tax relief rate for individuals and dependents which has not been reviewed since 2010, according to a written reply. In a Facebook post on Monday (March 10), Ayer Hitam MP Datuk Seri Dr Wee Ka Siong said he received a written reply from the ministry...
KUALA LUMPUR: Mandatory Employee Provident Fund (EPF) contributions for foreign workers is expected to come into effect in the fourth quarter of 2025, says Finance Minister II Datuk Seri Amir Hamzah Azizan. This comes after the Employees Provident Fund (Amendment) Bill 2025, which mandates foreign workers and their employers to contribute 2% of monthly wages to...
KUALA LUMPUR: The distribution of the 'Sumbangan Asas Rahmah' (Sara) aid starting Wednesday will see improvements to the targetted aid resulting from the increase in the Budget 2025 allocations for the Sara and 'Sumbangan Tunai Rahmah' (STR) assistance to their highest historical level of RM13bil compared to RM10bil in 2024. The Sara aid will be increased...
KUALA LUMPUR: The retail prices for RON97 petrol and diesel will go up by 5sen per litre from Jan 9-15. The Finance Ministry, in a statement on Wednesday (Jan 8), said the retail price of RON97 petrol would increase 5sen from RM3.28 to RM3.33 per litre. The price of diesel in Peninsular Malaysia will go up by...
KUALA LUMPUR: A tax rate exceeding 20% will be set for individuals who earn an income of over RM100,000, says Datuk Seri Amir Hamzah Azizan (pic). The Finance Minister II said this in his winding-up speech on the Supply Bill 2025 debate in the Dewan Rakyat late Wednesday (Nov 13). However, he did not specify if the RM100,000...
KUALA LUMPUR: The enhancements to the Sales and Service Tax (SST), effective from May 1, 2025, are expected to help generate revenue of RM51.7 billion in 2025, according to Finance Minister II Datuk Seri Dr Amir Hamzah Azizan. He said this represents an additional revenue of RM5 billion over the current SST collection forecast of RM46.7...
