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Eateries with turnover exceeding RM1.5 million annually will charge SST

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PUTRAJAYA — Aug. 30, 2018: Malaysian eateries will only be subject to the Sales and Services Tax (SST) if their annual turnover exceeds RM1.5 million annually, up from the RM$500,000 ceiling under the Goods & Services Tax.

“We have agreed to raise the amount after getting requests for the threshold to be raised by various parties including nasi kandar restaurants and coffee joints nationwide,” said Finance Minister Lim Guan Eng.

However, Lim said some businesses even requested for the threshold to be raised to RM3 million, claiming that their operational costs were high since their businesses were in Kuala Lumpur.

Lim hopes there will not be any increase in prices and advised consumers to be vigilant against eateries that do so. — Bernama

 

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Syndicated News

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.