News about tax

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.

SHAH ALAM (Sept 21): The Real Estate and Housing Developersʼ Association (Rehda) is conducting a case study on building costs after the implementation of the Sales and Service Tax (SST) regime.

KUALA LUMPUR (Sept 18): Consumer spending — which accelerated during the tax holiday period from June to September that saw a mad rush for automotive purchases — is expected to decline from the fourth quarter (4Q18) onwards following the implementation of the sales and service tax (SST) on Sept 1, say economists.