Latest news with #GST-exempt
Malaysiakini
14 hours ago
- Business
- Malaysiakini
GST vs SST: Is one better than the other?
KINIGUIDE | There is an ongoing national conversation in Malaysia about consumption taxes, balancing the legacy of the goods and services tax (GST) with the phased return and expansion of the sales and services tax (SST). Let's scrutinise both tax systems. What is GST? Enacted under the Goods and Services Tax Act 2014, Malaysia implemented GST ( six percent) from April 1, 2015, levied at each supply-chain stage. Basic goods like fresh food, water, and electricity remained zero-rated, while some services - education and healthcare, for example, were GST-exempt. Businesses could claim input tax refunds, avoiding tax-on-tax. A year before it was...
Malaysiakini
17 hours ago
- Business
- Malaysiakini
GST vs SST: Is one better than the other?
KINIGUIDE | There is an ongoing national conversation in Malaysia about consumption taxes, balancing the legacy of the goods and services tax (GST) with the phased return and expansion of the sales and services tax (SST). Let's scrutinise both tax systems. What is GST? Enacted under the Goods and Services Tax Act 2014, Malaysia implemented GST ( six percent) from April 1, 2015, levied at each supply-chain stage. Basic goods like fresh food, water, and electricity remained zero-rated, while some services - education and healthcare, for example, were GST-exempt. Businesses could claim input tax refunds, avoiding tax-on-tax. A year before it was...
