Finance Ministry: Fiscal reform under way, SST to be re-introduced

PETALING JAYA: The fiscal reform initiative is under way following the announcement that the Goods and Services Tax (GST) will be zero-rated from June 1, says the Finance Ministry.

"The shortfall from GST which is to be zero-rated effective June 1, 2018 will be cushioned by specific revenue and expenditure measures that shall be announced in due course," it said in a statement on Thursday.

It said that the Sales and Services Tax (SST) will be re-introduced while expenditure reduction will begin with rationalisation, efficiency measures and reduction in wastages.

Economy , SST , GST