KUALA LUMPUR, May 16 ‚ÄĒ The Goods and Services Tax (GST) will be zero-rated for all items and services in Malaysia from June 1, the Finance Ministry announced today.
The ministry said the GST will no longer be imposed at a rate of 6 per cent from then on, adding that this will be subject to further notice.
‚ÄúThis move to impose the GST at a zero rate takes effect starting from June 1, 2018 and applies to the whole country until further notice,‚ÄĚ it said in a brief statement today.
The ministry‚Äôs announcement comes almost a week after the Pakatan Harapan (PH) coalition took over as federal government.
Prior to being voted into power in the 14th general election, PH had promised that it would abolish the GST within 100 days of forming the government.
Zero rating would essentially remove the price impact of the GST, but retain its tax reporting functions.
This is confirmed or not???
MoF: Zero GST starting June 1?, To be verified