Malaysia to impose 5-10% tax on goods, 6% on services

Reuters
The new taxes come into force on September 1, 2018. (Shutterstock)
  • Taxes will be between 5% and 10% on the sale of goods, while services will attract a 6% levy
  • Prime Minister Mahathir Mohamad previously repealed an unpopular goods and services tax (GST)

KUALA LUMPUR: Malaysia will impose a tax of between 5 percent and 10 percent on the sale of goods, while services will attract a 6 percent levy when a new tax regime comes into effect on Sept. 1, the country’s customs chief Subromaniam Tholasy said on Thursday.
The Sales and Services Tax (SST) is being reintroduced after the government led by Prime Minister Mahathir Mohamad repealed an unpopular goods and services tax (GST) earlier this month.
The GST, which covered a broader range of items and services compared with the SST, has been set at 6 percent.

Topics: Malaysia retail tax economy