Malaysia’s June Inflation Rate Dips After GST Scrapped Following the abolishment of the 6% Goods and Services Tax (“GST”) from June 1 onwards, Malaysia’s June inflation rate eased to a 3-year low of 0.8%. In June, the country’s inflation rate was recorded at 0.8 %, which is the lowest rate since February 2015 – the…
Revival of Malaysia Inc. to Help Stimulate Growth Malaysia’s PM to Reintroduce Malaysia Inc. Concept Malaysia Inc., a concept which was first introduced by Prime Minister Mahathir Mohamad, will be revived with the aim to make Malaysia regarded as one massive corporation that both government and private sector will work to ensure its success. Tun…
Invest Selangor to Collaborate with MIDA on Boosting Logistics Supply Chain Malaysia’s logistic industry is expanding, and expanding fast, and the MIDA and Invest Selangor are set to work together to meet this need by working together to cater to the ASEAN and APAC region. In a jointly organized Investment Forum on Logistics Industry themed…
Breaking Down the SST in Malaysia Following the recent announcement of the re-introduction of the sales and service tax (“SST”) in the market, many people started to revisit how the SST tax regime and what’s the impacts of it? According to the Finance Minister of Malaysia, Lim Guan Eng, SST will make a comeback with…
Customs Department Says Essential Items Will Not Be Taxed SST Certain Consumer Goods Will Not Subjected to the Upcoming SST Vegetables. Poultry. Fresh milk. Various types of sugar. These are just some of the consumer good items on a long list prepared by the Customs Department that is proposed to be exempted from Sales…
Notice Regarding GST Price Displays 30 May 2018 – The Royal Malaysian Customs Department (RMCD) is issued a notice regarding the change in GST rate. This notice provides customers with the guidelines about the price tag changes which began on the 1st of June 2018 when the GST rate was zeroed out. Key highlights…
Malaysia’s New Finance Minister Confident of Stronger Economy Malaysia’s newly appointed Finance Minister Lim Guan Eng recently stated that the country’s economy remained strong and was backed by sound fundamentals. However, he said there was still a need to improve the fiscal conditions and also iron out other pressing issues. “The country’s economic fundamentals…
SST Takes Effect in Malaysia on Sept 1 The new Sales and Service Tax (SST) will come into effect in Malaysian on September 1 this year, after the Goods and Services Tax (GST) was zero-rated on June 1. Following this, the price of goods dropped by at least six per cent once the zero-rated GST system kicked…
Tax Incentive for Returning Expert Programme The Inland Revenue Board of Malaysia (IRBM) recently issued the Public Ruling (PR) No. 2/2018: Tax Incentive for Returning Expert Programme. The objective of this PR is to explain the tax treatment relating to tax incentives in respect of the Returning Expert Programme to attract Malaysian citizens who work…
New Malaysian Government Fulfils Promise, Malaysia GST Reduced to Zero The Malaysian government has today thrilled citizens by fulfilling their promise – the Malaysian Goods and Services Tax (GST) will be reduced from 6% to zero come June 1st. The new Malaysian Prime Minister Mahathir Mohamad had earlier instructed the government to stop collection on…
