Finance Ministry Reports Significant Increase in SST Exemptions
August 20, 2025 - 12:35
KUALA LUMPUR, Aug 20 — The Finance Ministry has announced that the Sales and Service Tax (SST) now includes over 1,800 exempted items, a substantial increase compared to the number covered under the previous Goods and Services Tax (GST). This new development indicates a strategic shift in the government's approach to taxation, aiming to alleviate the financial burden on consumers by broadening the scope of tax exemptions.
The increase in exempted items under SST is seen as a positive move to promote economic growth and enhance consumer spending. By tripling the number of exempted items, the ministry hopes to provide more affordable options for the public, particularly in essential goods and services. This change is part of a broader initiative to streamline the tax system and make it more equitable for all citizens.
The Finance Ministry's decision reflects its commitment to creating a more consumer-friendly environment while ensuring that the tax system remains efficient and effective in generating revenue for the country.
MORE NEWS
August 23, 2025 - 04:32
Stocks Experience Afternoon Surge Following Dovish Remarks from Fed ChairA variety of stocks saw significant gains in the afternoon trading session, buoyed by a rebound in major indices. This surge came on the heels of dovish comments made by Federal Reserve Chair...
August 22, 2025 - 12:53
Elon Musk Approached Mark Zuckerberg for OpenAI Acquisition SupportElon Musk made an attempt to recruit Mark Zuckerberg to assist in his unsolicited bid to acquire OpenAI earlier this year, according to recent court documents. The revelation highlights the intense...
August 21, 2025 - 19:14
Trends in Equipment Lending Amid High Interest Rates and Tariff ConcernsThe equipment lending sector is currently facing significant challenges due to elevated interest rates and ongoing tariff uncertainties. These economic factors are creating a cautious atmosphere...
August 21, 2025 - 10:03
Southeast Asia's Thriving Islamic Finance Sector Attracts Non-Islamic FirmsMambu, a SaaS company based in Amsterdam, is strategically focusing on Southeast Asia`s burgeoning Islamic finance market. The region is witnessing a notable shift as younger populations...