KUALA LUMPUR: Consumers may soon be paying significantly more for imported fruits following a series of cost increases from July 1, traders say. Kuala Lumpur Fruits Wholesalers Association president Chin Nyuk Moy said importers were bracing to get hit on three fronts: a 5% sales and service tax (SST) on imported fruits, a 30% increase in...
PETALING JAYA: Refined sugar, commonly known as white sugar, will remain untaxed under the revised sales and service tax (SST) framework set to take effect from July 1, says the Finance Ministry. Addressing concerns raised by manufacturer MSM Malaysia Holdings Berhad, the ministry said the government's targeted taxation approach would ensure that essential goods including sugar,...
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: 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...
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...
PETALING JAYA: Young adults are learning to get thrifty in their spending as they begin to feel the pinch on their wallets a week into the sales and service tax (SST) hike earlier this month. Business development consultant Timmothy Chan, 27, lamented that his monthly expenses had increased by almost 10% due to the increased prices...
PETALING JAYA: Consumers in the B40 and M40 groups will be affected by the increase in the Sales and Service Tax (SST) despite being exempted directly, says says Datuk Seri Dr Wee Ka Siong The MCA president said that although those who use less than 600 kWh a month in electricity would be exempted from SST,...
PETALING JAYA: Traditional and complementary medicine (TCM) services are crucial parts of our healthcare system and should not be taxed, says Datuk Seri Dr Wee Ka Siong (pic). The MCA president urged the government to withdraw its plan to introduce a sales and services tax (SST) for TCM, including massage and physiotherapy services. "Be it TCM treatment...
KOTA KINABALU: The introduction of an 8% tax on traditional and complementary medicine (TCM) services would encourage underground practices and quacks, says Dr Pamela Yong (pic). The MCA deputy secretary-general said the new tax would adversely affect its integration into general healthy living. She said in a move to increase coffers and revenue, it seems that the...
