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From Sept. 1 tax on services at 6%, sale of goods 10%


“Following the zero-rating of the goods and services tax (GST), the federal government is expecting to lose RM21bil in revenue per year.  “In contrast, the reintroduction of the SST, rising crude oil prices and the dividends from the government-linked companies would bring in an extra RM15bil in revenue for the federal government in 2018,” Lim said in his speech at the National Tax Conference(pic) yesterday.

“Following the zero-rating of the goods and services tax (GST), the federal government is expecting to lose RM21bil in revenue per year. “In contrast, the reintroduction of the SST, rising crude oil prices and the dividends from the government-linked companies would bring in an extra RM15bil in revenue for the federal government in 2018,” Lim said in his speech at the National Tax Conference(pic) yesterday.

KUALA LUMPUR: The provision of services will be taxed at 6% under the reintroduced sales and services tax (SST), while the sale of goods will incur a 10% tax, said Finance Minister Lim Guan Eng.

He said that the SST would be implemented on Sept 1 after the necessary laws are passed in the current Parliament session.

Taxation , Corporate News , SST , GST , Lin Guan Eng

   

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