New Sabah Times, Photo Credit to Free Malaysia Today
clock 24-11-2017
hit 820

No Plans to Change GST Rate

Be the first to review

KUALA LUMPUR: The government has not planned to change the rate of the goods and services tax (GST) which has been set at six percent, said the Ministry of Finance.


In a written reply, which was circulated to the media during the Dewan Rakyat sitting on Monday, the ministry explained that the rate was fixed after a detailed study has been made to ensure it was at the most appropriate rate for Malaysia.

The ministry had said this in reply to a question by Khalid Abdul Samad's (PAS-Shah Alam) who wanted to know whether the government would consider reducing the GST rate from six percent.

"The government always wants to ensure that the country's tax system covering direct taxes, including corporate and individual tax rates, as well as indirect taxes, can promote economic development and sustain the country's competitiveness in the long run" he said.





SIGN UP NEWSLETTER

logo
Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.