Business

SST to be reintroduced in 2-3 months

Tun Daim Zainuddin

Tun Daim Zainuddin

Syndicated News
Written by Syndicated News

KUALA LUMPUR, May 19 2018 : The reintroduction of the Sales and Services Tax (SST) will take place within two to three months, said Head of the Council of Eminent Persons, Tun Daim Zainuddin.

The new government had earlier announced that the Goods and Services Tax (GST) is set to be zero-rated from six per cent effective June 1, 2018.

“(SST will be implemented) very soon..the implementation needs some time…you cannot do it immediately, roughly it will take about two to three months.

“For the last seven years, we do not have GST, (and) there was no problem, we can overcome everything…the problem here is corruption,” he told a press conference at his office here yesterday.

However, Daim did not clearly state when the SST would take effect and what the rate would be. 

He said the SST was estimated to raise about RM30 billion in revenue annually and would mitigate the loss from GST collection. – Bernama

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