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Thread: GST to be implemented in Malaysia starting 1st Apirl 2015

  1. #1
    Senior Member
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    GST to be implemented in Malaysia starting 1st Apirl 2015

    At 6%.

    Can someone explain in depth how GST works? I have no idea.

    Thank you.

    http://www.thestar.com.my/News/Natio...pport-GST.aspx

  2. #2
    Senior Member Stillearly's Avatar
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    All the things you buy , goods and services will add on 6% to their charge , so you buy a car or have your house painted , it will cost 6% extra , unless they are exempt ( educational material maybe ... )
    'If it floats, flies or fcuks , it's cheaper to rent"

  3. #3
    Senior Member
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    Goods and Services Tax

    • Government to introduce Goods and Services Tax (GST) at 6% starting April 1, 2015. Sales and Services Tax to be abolished.


    • Items to be exempted from GST - rice, sugar, salt, flour, cooking oil, dhal, chilli, herbs, salted fish, cincalok, budu, belacan, piped water, electricity (for first 200 for domestic use), government services, public transport (bus, LRT, ferry, toll) sales and purchase of property or rental of property.


    • Implementation comes with a reduction in tax structure effective from 2015. Generally, those with family and earning RM4,000 and below need no longer pay income tax.


    • After GST, a one-off cash payment of RM300 to be made to those now receiving BR1M help.


    • GST monitoring committee to be chaired by Minister of Finance II Ahmad Husni Hanadzlah to ensure smooth implementation.

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