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Jumaat, 20 Julai 2018 11:23

SST 2.0: A simpler tax for businesses

KUALA LUMPUR: The new sales tax and service tax, dubbed SST 2.0, will be much simpler for businesses as compared with the goods and services tax (GST) and the old SST framework that preceded the GST, says the Royal Malaysian Customs Department....

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KUALA LUMPUR: The minimum wage order for workers is expected to be gazetted within two months, the Dewan Rakyat was told today. Human Resources Minister M. Kulagesaran said the National Wage Consultative Council (MPGN) had concluded its study on the matter and would submit its findings to the government soon. “If there is no hindrance, the new minimum wage order will be gazetted in one or two months,” he said in reply to a question by Datuk Azizah Mohd Dun (BN-UMNO Beaufort).

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FARNBOROUGH (Thurs): A smooth transition in the change of government and a stable economic and political landscape have ensured continued confidence in Malaysia as a country to invest in as it looks to accelerate its push as a hub for aerospace industry in the South East Asian region. Malaysia External Trade Development Corporation (MATRADE) chief executive officer Ir Dr Mohd Shahreen Zainooreen Madros, who is attending the Farnborough International Airshow 2018, after meeting foreign aerospace companies, said they are hopeful that Malaysia continues to be a healthy place to invest.

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KUALA LUMPUR, July 19 (Bernama) -- The Sales and Services Tax (SST) will cover only 38 per cent of the Consumer Price Index (CPI) basket of goods compared with the 60 per cent from the Goods and Services Tax (GST). Finance Minister Lim Guan Eng said the implementation of the improved SST would 'return' to the people RM23 billion in taxes collected which would ease their financial burden, especially those affected by high living costs.

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KUALA LUMPUR: Malaysia's inflation rate fell below 1% in June, which was the first time in 40 months following the abolishment of the Goods and Services Tax (GST) , discounted prices by retailers and price control due to the festivities....

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KUALA LUMPUR, July 18 (Bernama) -- The Ministry of International Trade and Industry (MITI) has established a task force in July 2018 with the aim to monitor and assess the developments of the United States-China trade conflict.

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PETALING JAYA, July 19 (Bernama) -- The Sales and Services Tax (SST), to be implemented from Sept 1 this year, will be easy for companies to manage and also takes into consideration the needs of the Bottom-40 household group, says the Customs Department. Director-General Datuk Seri Subromaniam Tholasy said the tax comprised three categories, namely zero per cent, five per cent and 10 per cent, but most goods would fall into the zero per cent category or zero-rated.

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JOHOR BAHRU, July 16 (Bernama) -- Ar Rahnu TEKUN, which offers mortgage financing by accepting gold products or jewellery as collateral, plans to open four more branches in the near future....

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KUALA LUMPUR, July 17 (Bernama) --Malaysian small businesses are falling behind the global average when it comes to engaging in international trade, with almost a third (29 per cent) declining participation in any relevant activities.

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MUMBAI: India's palm oil imports in June plunged 41 percent from a year earlier to their lowest in nearly 4-1/2 years, a leading trade body said on Monday, as a higher import tax on the tropical oil made it more expensive....

 

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