Say goodbye to GST guys!
In a statement by Dr. Mahathir, the Pakatan Harapan coalition leader has reiterated that his new government will move to abolish the Goods and Services Tax (GST).
As part of their manifesto, coalition Pakatan Harapan has promised to abolish GST within 100 days of their appointment to office. Instead, they will bring back the sales and services tax (SST).
“We do not need GST. We will revert back to the SST,” he said at a press conference held earlier today.
The GST was implemented on 1st April 2015 with a standard rate of 6% tax imposed on at each level of distribution.
SST on the other hand may vary in rates of 5 per cent, 10 per cent or have a specific rate imposed along with a 6 per cent service. This however, is only imposed at the level of the manufacturer or consumer level alone.
Also read: Mahathir: Malaysia Now Has No Government Until New PM is Sworn In
