Guan Eng Announces 10% SST For Sales, 6% For Services
Author Avatar

 

Guan Eng Announces 10% SST For Sales, 6% For Services
(Image: The Star)

Finance Minister Lim Guan Eng announced today that the sales and services tax (SST) rate will be set at 10% for sales and 6% for services. The bill on the tax is expected to be passed in Parliament the following month.

The SST will come into force on 1 September as a replacement to the 6% Goods and Services Tax (GST) implemented by the previous government. It is expected to bring in a revenue of RM4 billion.

Lim said that despite the expected loss of RM21 billion in revenue after the zero-rating of GST from 1 June, the reintroduction of SST, rising crude oil prices, and extra dividends from government-linked companies are expected to bring in an additional RM14.4 billion in revenue this year.

Lim made the announcements during his keynote address at the National Tax Conference at KLCC today.

(Source: Free Malaysia Today

 

0 0 votes
Article Rating
SHARE

Comments (0)

Subscribe
Notify of

0 Comments
Inline Feedbacks
View all comments
Most Viewed Articles
Post Image
Personal Finance News
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
RinggitPlus
- 4th February 2026
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Personal Finance News
ASB FY2025 Distribution: What The 5.75 Sen Payout Means For Unitholders
Samuel Chua
- 22nd December 2025
Amanah Saham Bumiputera, or ASB, unitholders will receive a total income distribution of 5.75 sen per unit [PDF] […]
Post Image
Personal Finance News
Ryt Bank Retains 4% Savings Rate And Launches New PayLater Feature
Christina Chandra
- 25th November 2025
Ryt Bank has announced that it will maintain its competitive 4% per annum savings rate while introducing fresh […]
Post Image
Personal Finance News
Another RM100 SARA Aid For Malaysians From 9 Feb 2026
Samuel Chua
- 5th January 2026
Around 22 million Malaysians aged 18 and above will receive another RM100 under the Sumbangan Asas Rahmah, or […]

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image