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Home News Auto News Tun Dr. Mahathir: GST To Be Abolished Tun Dr. Mahathir: GST To Be Abolished Auto News Hans | May 10, 2018 01:40 pm Tun Dr. Mahathir, the leader of the Pakatan Harapan coalition which has won the recently concluded 14th General Election in Malaysia has confirmed today in a press conference that the new government will cancel GST.“There is no rolling back. It’s a cancellation,” said Tun Dr. Mahathir when asked about what will happen to the 6 percent Goods and Services Tax introduced by the previous Najib Abdul Razak’s administration to replace the 10 percent Sales and Services Tax (SST). The abolishment of GST was a key part of Pakatan Harapan’s manifesto.Pending the formation of a new government led by the Pakatan Harapan coalition and consent from the King, details are still lacking but the uncertainty will certainly have an impact on many businesses.File pictureFor the automotive sector, the announcement also means that price lists for not just cars, but also automotive parts and services will have to be revised. A major revision on accounting and IT support systems are required but with no further details, businesses are currently left in a limbo. If we are to revert to the previous SST, the relevant ministries will have to confirm on the implementation and taxable amount. Whichever path the new government intends to follow, it is important that clear and detailed directives are communicated out the public as soon as possible.If you are an accounting professional working in Finance, do share with us your thoughts on the matter in the comments section. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags GST Print Related News GST To Be Zero Rated On 1st June 2018- Ministry of Finance Auto News Siew Weng | May 16, 2018 The Ministry of Finance Malaysia has just announced that the Goods and Services Tax (GST) will be set at zero per cent beginning 1st June 2018.In a ... Zero GST - The Rich Will Gain Most, The Poor And Middle Class Less So Insights Hans | May 18, 2018 In keeping with Pakatan Harapan’s election manifesto, the newly formed Malaysian government under the leadership of Tun Dr. Mahathir Mohamad has ... Quick Summary Of Brands: New Prices Without GST Here Buying Guides Siew Weng | June 04, 2018 Now that all the mainstream and premium brands have announced their new prices that have withdrawn the GST levy of 6%, we can tabulate all the prices ... Post-GST: Prices Of CKD Honda Models Slashed By Up To RM2,500 Buying Guides Hans | June 30, 2015 In a surprising move which will definitely create a lot of disruption within the local automotive industry, Honda Malaysia Sdn. Bhd. has announced ... Comments
Tun Dr. Mahathir: GST To Be Abolished Auto News Hans | May 10, 2018 01:40 pm Tun Dr. Mahathir, the leader of the Pakatan Harapan coalition which has won the recently concluded 14th General Election in Malaysia has confirmed today in a press conference that the new government will cancel GST.“There is no rolling back. It’s a cancellation,” said Tun Dr. Mahathir when asked about what will happen to the 6 percent Goods and Services Tax introduced by the previous Najib Abdul Razak’s administration to replace the 10 percent Sales and Services Tax (SST). The abolishment of GST was a key part of Pakatan Harapan’s manifesto.Pending the formation of a new government led by the Pakatan Harapan coalition and consent from the King, details are still lacking but the uncertainty will certainly have an impact on many businesses.File pictureFor the automotive sector, the announcement also means that price lists for not just cars, but also automotive parts and services will have to be revised. A major revision on accounting and IT support systems are required but with no further details, businesses are currently left in a limbo. If we are to revert to the previous SST, the relevant ministries will have to confirm on the implementation and taxable amount. Whichever path the new government intends to follow, it is important that clear and detailed directives are communicated out the public as soon as possible.If you are an accounting professional working in Finance, do share with us your thoughts on the matter in the comments section. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags GST
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
GST To Be Zero Rated On 1st June 2018- Ministry of Finance Auto News Siew Weng | May 16, 2018 The Ministry of Finance Malaysia has just announced that the Goods and Services Tax (GST) will be set at zero per cent beginning 1st June 2018.In a ...
Zero GST - The Rich Will Gain Most, The Poor And Middle Class Less So Insights Hans | May 18, 2018 In keeping with Pakatan Harapan’s election manifesto, the newly formed Malaysian government under the leadership of Tun Dr. Mahathir Mohamad has ...
Quick Summary Of Brands: New Prices Without GST Here Buying Guides Siew Weng | June 04, 2018 Now that all the mainstream and premium brands have announced their new prices that have withdrawn the GST levy of 6%, we can tabulate all the prices ...
Post-GST: Prices Of CKD Honda Models Slashed By Up To RM2,500 Buying Guides Hans | June 30, 2015 In a surprising move which will definitely create a lot of disruption within the local automotive industry, Honda Malaysia Sdn. Bhd. has announced ...