Poll: SST raises cost of doing business

Soh: ‘To stay competitive, the steel sector is urging the Government not to issue new licences on products currently produced.’

PETALING JAYA: The sales and service tax (SST), which was introduced in September 2018, have increased the cost of doing business among Malaysian manufacturers by up to 10%, according to a recent survey by the Federation of Malaysian Manufacturers (FMM) and the Malaysian Institute of Economic Research (MIER).

The Pakatan Harapan government had previously assured Malaysians that the move to replace the GST with SST would reduce costs. The abolishment of GST and the introduction of SST were the centrepiece ofthe Pakatan manifesto for the 14th general election.