ASIA REGULATORY ROUND UP – NEW SALES AND SERVICES TAX LAUNCHED IN MALAYSIA

A SALES and Services Tax (SST), replacing Malaysia’s now abolished goods and services tax (GST), has come into force (from September 1), via the new Sales Tax Act 2018 and the Service Tax Act 2018. The SST is a single-stage tax, a sales and services tax imposed on manufacturers and service providers rather than end customers, as with the 6% GST. The SST involves manufacturers and importers paying between 5% and 10% sales tax at cost price on goods, and services paying 6% on their supplies. See ...


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