News about tax

PETALING JAYA: The government should not implement new taxes on the real estate industry, especially counter-productive ones such as a vacancy tax, said the immediate past president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) Foo Gee Jen.

KUALA LUMPUR (Oct 18): Revenue will continue to be diversified by increasing the contribution of indirect taxes and non-tax revenue such as licenses, permits, fees and rentals, said the mid-term review of the 11th Malaysia Plan.

KUALA LUMPUR (Oct 10): Malaysians might have breathed a sigh a relief too soon after the goods and services tax was removed a few months ago as the government will be introducing more taxes to pare down the whopping national debts.

PETALING JAYA (Oct 8): Majlis Perbandaran Pulau Pinang (MBPP) will absorb the 6% charge from the Sales and Service Tax (SST) imposed on parking fees for council lots, reported The Star.

KUALA LUMPUR (Oct 6): The Edge Malaysia asked this question as part of its cover story this week: Will we see new taxes on inheritance and capital gains? “Talk of new taxes being introduced normally intensifies as the tabling of the annual budget approaches.

KUALA LUMPUR (October 4): Rosmah Mansor has pleaded not guilty to 17 charges related to money laundering, and her bail has been set at RM2mil.

KUALA LUMPUR (Oct 2): UEM Sunrise Bhd is studying if it is even possible to reduce property prices thanks to exemptions on certain construction materials and services from the Sales and Service Tax (SST) on property prices as any savings may be offset by the rise of other construction costs.

PETALING JAYA (Sept 29): The only way developers can bring property prices down is by cutting their profit margins, said a property industry observer.

KUALA LUMPUR (Sept 24): Finance Minister Lim Guan Eng has urged developers to lower prices of homes as construction materials and services are exempted from the Sales and Service Tax (SST), or the government will review the waiver.

Following the abolishment of the Goods and Services Tax (GST), the Sales and Service Tax (SST) kicked off on Sept 1 promptly, but without a complete list of chargeable items, surprising many business operators and consumers.