KUALA LUMPUR, Feb 12 — The additional revenue from sales and service tax (SST) expansion to 8.0 per cent from 6.0 per cent effective March 1, 2024, can benefit the rakyat in the form of cash aid, urban infrastructure and healthcare amid the ageing population in the country.

KUALA LUMPUR, Feb 12 — Malaysia is one of the lowest tax revenue collectors in Southeast Asia, with a tax-to-gross domestic product (GDP) ratio of 11.8 per cent.

KUALA LUMPUR, Nov 27 — The government is now looking at further narrowing its fiscal deficit, which eased to 5.6 per cent last year after hitting 6.4 per cent in 2021, amid a much-needed pandemic-induced spending to boost the economy and safeguard Malaysian’s livelihood at large.

KUALA LUMPUR, Nov 20 — Kenanga Investment Bank Bhd has upgraded its calendar year 2023’s total industry volume (TIV) forecast by seven per cent to 770,000 from 720,000 units amid stronger-than-expected sales volumes across the board, especially for Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

KUALA LUMPUR, Oct 26 —The implementation of the electronic invoicing system (e-invoicing) will bode well should the government opt to reinstate the Goods and Services Tax (GST), and simultaneously, assist it in achieving its 2024 tax collection target of RM185 billion, said Inland Revenue Board (IRB) chief executive officer Datuk Seri Mohd Nizom Sairi.

KUALA LUMPUR, Oct 18 — The government has been urged to reconsider and postpone for the time being the proposal regarding the (sales and) service tax (SST).

KUALA LUMPUR, Oct 17 — At least 20 per cent of oil palm are unharvested due to labour shortage, hence additional government initiatives are needed to ensure that the industry remains sustainable.

KUALA LUMPUR, Oct 17 — BMI Country Risk & Industry Research (BMI) has retained its forecast for Malaysia’s budget deficit as a share of gross domestic products (GDP) to fall from 4.9 per cent in 2023 to 4.3 per cent in 2024, in line with the government’s fiscal projections.

KUALA LUMPUR, Oct 13 — The choice between the Sales and Service Tax (SST) and the Goods and Services Tax (GST) hinges on Malaysia's economic goals, administrative capabilities, and the need to achieve an optimal balance between revenue generation and the promotion of fairness and equity among the rakyat, said the Finance Ministry (MoF).

KUALA LUMPUR, Oct 1 — Tourism-related associations have expressed hope for the government to increase the Sales and Services Tax (SST) annual threshold for the hospitality industry from RM500,000 to RM1.5 million through Budget 2024.

MUAR, Aug 28 — The Agriculture and Food Security Ministry  held dialogues with rice milling companies last Saturday, through its Paddy and Rice Regulatory Division, to discuss the issue of super special local (SST) rice stocks in the market.

PUTRAJAYA, Jan 30 — Over 90 per cent of companies paid their Sales and Services Tax (SST) last year, with less than 10 per cent of defaulting companies causing the country to lose almost RM150 million in revenue, according to the Royal Malaysian Customs Department (JKDM).

PUTRAJAYA, Dec 22 — Projects that have been awarded a letter of acceptance (SST) will not be cancelled, even if they were done via direct negotiations, said Transport Minister Anthony Loke.

KUALA LUMPUR, June 22 — Maybank Investment Bank Bhd (Maybank IB) foresees unnecessary issues over the next nine months in the automotive sector with a rise in speculative bookings until end-Jun 2022 followed with cancellations until end-Mar 2023.

KUALA LUMPUR, March 22 — The government is still studying the suitability of implementing the Goods and Services Tax (GST) and the usage of other taxation models, said the Finance Ministry.

KUALA LUMPUR, Dec 28 — The government will only re-implement the Goods and Services Tax (GST) after carrying out a detailed study to ensure that it does not affect the interests of the people.

KUALA LUMPUR, Dec 10 — The government is studying the feasibility of the re-implementation of the Goods and Services Tax (GST) or other consumption tax models.

KUALA LUMPUR, Oct 8 — Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz says widening the Sales and Services Tax (SST) is one of the many options available to expand the government’s revenue base but the timing has to be right.

PUTRAJAYA, Sept 30 — The Inland Revenue Board (IRB) is revising downwards its tax collection target for 2020 from the RM154 billion projected in January, which was prior to the movement control order's (MCO) implementation.