Malaysia NEW GST Tax System To Replace SST Tax System 5 Feb 2014

Due to COVID-19, some offers may no longer be valid or temporarily suspended. Please verify the validity (even if it says "ON TODAY" below) before heading down

GST is a consumption tax levied on goods and services at all levels of businesses. The consumer is taxed only when they spend.

GST will replace the Sales and Service Tax (SST). It is aimed to streamline the country’s tax system to be more effective, efficient, transparent and business-friendly.

GST was first implemented in France as early as 1950s.

Today, more than 160 countries have implemented GST. Malaysia, Myanmar & Brunei are the only remaining countries in the ASEAN region which have not implemented GST.

It is a better and fairer tax system compared to SST.

Goods and Services Not Subjected to Gst

For socio-economic benefits, certain goods and services are not subjected to tax such as:

  • Basic groceries such as rice, flour, sugar and cooking oil
  • Purchase and rental of residential building
  • Sale and purchase of agricultural land
  • Education
  • Public transport
  • Healthcare services

See ad image for more details

Click on thumbnail[s] to enlarge.

Share this with your friends & loved ones on Facebook!

Advertisement

Related News

Be the first to comment

Leave a Reply

Your email address will not be published.





Advertisement