GST 6% to 0% Effective 1st June 2018
On 16th May 2018, Malaysia’s Ministry of Finance (MOF) has announced that GST will be set back from 6% to 0% effective 1st June 2018.
SIARAN MEDIA : PENGENAAN CUKAI BARANG DAN PERKHIDMATAN (GST) PADA KADAR SIFAR.
Posted by Kementerian Kewangan Malaysia on Wednesday, May 16, 2018
Goods and Service Tax was implemented officially effective 1st April 2015. With that, value added at each level in the supply chain, started from the production, right up to consumer consumption including the export Good and Services. This is a clear multistage tax based on consumption.
However, following the people tsunami in General Election-14 (GE14), that happened in Malaysia. The new ruling Government, Pakatan Harapan (PH) -has pledged to abolish the Good and Services Tax (GST). In relation to that, effective 1st June 2018 the GST of 6% will be set back to 0%, and reintroduce with the Sales and Service Tax (SST).
During this transition period, every one of us will have a lot of questions regarding the matter. Here we have some common questions and answers for your reference. Should you have any doubt, kindly reconfirm with the relevant authority for better clarification.
