High value goods tax and SST to serve distinct purposes

A people passing by Al Ikhsan shop with 0 GST and SST sign at Petaling Jaya. NORAFIFI EHSAN/The Star.

PETALING JAYA: Initially proposed in Budget 2023, the luxury goods tax has been re-tabled in Budget 2024 as high value goods tax (HVGT).

Grant Thornton Malaysia national tax practice leader Datin Seah Siew Yun noted that the high value goods tax and sales and service tax (SST) are two different types of taxes, each serving distinct purposes.