PETALING JAYA: Banking associations have reassured the public that the upcoming expansion of the service tax which on July 1, 2025, will not affect commonly used basic banking services. "Basic banking services that involve fees or commissions such as those related to current accounts (cheque accounts), savings accounts, or similar accounts, including e-wallets, are not subject...
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 Government has confirmed that water bills will remain exempted from the sale and service tax (SST). Meanwhile, an 8% SST will be charged on electricity usage of more than 600kWH per month, effective March 1, 2024. According to the Finance Ministry, the new tax imposed is expected to affect about 15% of domestic electricity...
