The Dawn Of The 8% SST Era: Here's A Highlight Of The Key Changes Ahead

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The Dawn Of The 8% SST Era: Here's A Highlight Of The Key Changes Ahead

28-Feb-2024
By EGHYJ

As of March 1, 2024, Malaysia's Sales and Service Tax (SST) is slated to increase from 6% to 8%. Despite some opposition to the implementation, the planning is proceeding as scheduled. To provide clarity on these changes, here's a concise summary of the new SST adjustments.


#Categories subject to 8% SST:

- Hotel and accommodation industry

- Credit card and charge card processing and fees

- Entertainment and leisure industry (clubs, etc.)

- Maintenance or repair services (car repairs, etc.)

- Professional services industry (accounting, advertising, construction, etc.)

- Other services industry (hair salons, beauty parlors, laundry services, etc.)

https://image.goody25.com/images/catalog/48105/20240228_17090978204661_mobile.jpg


#Categories maintaining a 6% tax rate:

- Food and beverage industry

- Telecommunication services

- Parking services

- Logistics services

https://image.goody25.com/images/catalog/48105/20240228_17090978209252_mobile.jpg


#Newly added taxable categories:

- Broking and underwriting services

- Delivery services

- Karaoke

https://image.goody25.com/images/catalog/48105/20240228_17090978214643_mobile.jpg

SST Sales and service Tax sales and Service Tax sales and service sales and service tax anwar ibrahim 8% Madani economy financial price hike


EGHYJ

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