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> MoF: Zero GST starting June 1?, To be verified

darkhunter16
post May 16 2018, 05:27 PM, updated 2w ago

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KUALA LUMPUR, May 16 — 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.

“This 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,” it said in a brief statement today.

The ministry’s 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.


Source: https://sg.news.yahoo.com/mof-zero-gst-star...-091014820.html


This is confirmed or not??? icon_question.gif confused.gif confused.gif
Ckmwpy0370
post May 16 2018, 05:27 PM

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very subjective
darkhunter16
post May 16 2018, 05:28 PM

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QUOTE(darkhunter16 @ May 16 2018, 05:27 PM)
KUALA LUMPUR, May 16 — 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.

“This 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,” it said in a brief statement today.

The ministry’s 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.
Source: https://sg.news.yahoo.com/mof-zero-gst-star...-091014820.html
This is confirmed or not??? icon_question.gif  confused.gif  confused.gif
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Malaysia Kini also reported similarly https://www.malaysiakini.com/news/425272 confused.gif
darkhunter16
post May 16 2018, 05:33 PM

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Kementerian Kewangan Malaysia Facebook page https://www.facebook.com/KementerianKewanga...155799549538547


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zhaoweiyang
post May 16 2018, 06:33 PM

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QUOTE(darkhunter16 @ May 16 2018, 05:27 PM)
KUALA LUMPUR, May 16 — 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.

“This 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,” it said in a brief statement today.

The ministry’s 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.
Source: https://sg.news.yahoo.com/mof-zero-gst-star...-091014820.html
This is confirmed or not??? icon_question.gif  :confused:  :confused:
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Never put trust on picture and text, trust only video of said person actually saying it.

This post has been edited by zhaoweiyang: May 16 2018, 07:12 PM
AVFAN
post May 16 2018, 06:55 PM

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I read it as zero gst on june1, nothing else.

It does not say abolish gst or reintroduce sst.

quite clever.

Ramadan, raya... let prices cool, drop, assess impact.

Then slowly reintroduce sst or apply gst 2, 2.5 %.

Politically, that may be acceptable if handled carefully.

Selectt
post May 16 2018, 07:03 PM

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QUOTE(AVFAN @ May 16 2018, 06:55 PM)
I read it as zero gst on june1, nothing else.

It does not say abolish gst or reintroduce sst.

quite clever.

Ramadan, raya... let prices cool, drop, assess impact.

Then slowly reintroduce sst or apply gst 2, 2.5 %.

Politically, that may be acceptable if handled carefully.
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as long no impact to rakyat, thats the keypoint.
jerry1227
post May 16 2018, 08:42 PM

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Can anyone explain what is sales tax and what item/services is subject to sales tax?
nexona88
post May 16 2018, 09:00 PM

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There's still GST but its ZERO rate...
Smart political move... Many kampong folks would be syukur...
It would be talk of the town tomorrow... This weekend. Many sure balik kampung.. First week of fasting...
freeman1
post May 16 2018, 09:03 PM

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h@ksam
post May 17 2018, 12:35 AM

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the fastest way to stop collecting GST right now is zero rate all items in the current system.

so you can still file, but it will be 0 input, 0 output, hence 0 payment to kastam.



This post has been edited by h@ksam: May 17 2018, 12:38 AM
Ckmwpy0370
post May 17 2018, 09:47 AM

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With the Zero rate in the system, no need to abolish the whole process and system which have invested.
With this, to ease of implementation in near future which new Gov might put in small % in GST to generate revenue to boost the economic at the right time in future


AVFAN
post May 17 2018, 11:03 AM

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here it comes... as expected, SST returns.

QUOTE
SST to make comeback on June 1
FMT Reporters | May 17, 2018

It will replace the GST, which will be zero-rated next month.
BREAKING NEWS

The goods and services tax will be replaced with the sales and services tax come June 1.

PETALING JAYA: Putrajaya says it will re-introduce the sales and services tax (SST) on June 1, following its decision to do away with the goods and services tax (GST).

The move to zero-rate the GST, introduced three years ago, was announced by the finance ministry yesterday. It covers all local and imported goods.
http://www.freemalaysiatoday.com/category/...back-on-june-1/

andrekua2
post May 17 2018, 11:17 AM

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QUOTE(h@ksam @ May 17 2018, 12:35 AM)
the fastest way to stop collecting GST right now is zero rate all items in the current system.

so you can still file, but it will be 0 input, 0 output, hence 0 payment to kastam.
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0 payment July onwards... Next month still kena bayar.
infested_ysy
post May 17 2018, 11:21 AM

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QUOTE(AVFAN @ May 17 2018, 11:03 AM)
here it comes... as expected, SST returns.
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I'm planning to buy a laptop now.

Does the SST mean I'll end up paying more for the same laptop if I buy it after June?
macyhouse
post May 17 2018, 11:39 AM

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Base on initial press talk still going to abolish but will implement stages

Since they will be a lot of cost involve for company to change

Best is hope the wise one just take it with a pinch of salt and implement a lower gst %

This post has been edited by macyhouse: May 17 2018, 11:40 AM
AVFAN
post May 17 2018, 12:44 PM

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QUOTE(infested_ysy @ May 17 2018, 11:21 AM)
I'm planning to buy a laptop now.

Does the SST mean I'll end up paying more for the same laptop if I buy it after June?
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i do not know the details.

will be good if u can ask the laptop sellers/biz.
Damocles
post May 17 2018, 12:52 PM

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Does this mean that all prices will go down by 6%?
Including chicken rice, mixed rice , kopi etc at the coffee shop?
If so, how does one ensure that all shop proprietors follow suit?
DrNinja
post May 17 2018, 01:38 PM

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QUOTE(Ckmwpy0370 @ May 17 2018, 09:47 AM)
With the Zero rate in the system, no need to abolish the whole process and system which have invested.
With this, to ease of implementation in near future which new Gov might  put in small % in GST to generate revenue to boost the economic at the right time in future
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More taxes = better economy.

Better go and jump from the top of klcc la.
Ckmwpy0370
post May 18 2018, 05:23 PM

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QUOTE(DrNinja @ May 17 2018, 01:38 PM)
More taxes = better economy.

Better go and jump from the top of klcc la.
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ya,
extra tax will return to the market to spur economy growth, then followed by growth income ma... biggrin.gif

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