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PETALING JAYA: The reintroduction of the Sales and Service Tax (SST), which will come into effect on September 1st, will take into account households B40 or 40% of the bottom, says Datuk Seri Subromaniam Tholasy ( peak ).
The director general of the customs department said that the government will announce in due course how OHS will take into account the needs of low-income people such as group B40.
"We will take into account the needs of the B40.There is a bit of widening in the new SST compared to the old SST but not so much.
" At the same time, we we also have income concerns, so we have to find a balance, "he said after opening an information session by the Customs Department on OHS to industry and industry stakeholders. to the media Thursday.
According to Subromaniam, the new SST, which he describes as SST 2.0, will have a slightly larger coverage of goods and services that will be taxed compared to the old SST. [19659002HoweverhepointedoutthatthecoverageoftheTVSwillbemuchsmallerinrelationtotheGoodsandServicesTax(GST)
Citing an example, Subromaniam stated that 472,000 businesses were subject to the GST then less than 100,000 would be affected by RST
"Comparativeme In the GST, the scope of the next TOD is narrower, ESS should not have the same impact (on consumers) as the GST, "he said.
Asked whether prices of goods and services will increase because of SST, Subromaniam said that SST is only a small component. He said that other factors such as fuel prices and the attitude of traders and companies also play a role. "We hope that companies do not benefit from OHS by raising prices," he said. He said that the SST will be a simpler system for businesses because of its smaller coverage as all the deposit will be made online compared to manually under
Subromaniam also announced that his department will organize a national session of Stakeholder engagement on OSH from Monday 23 July.
He said that sessions are important because companies need time before the implementation of OHS.
"If we wait for the OHS bill to be approved in Parliament, it will take time."
"We expect the SST Bill to be passed next month, near the end of this Parliament."
"It takes time, so we inform companies earlier about the coverage and tax rate, so that they are ready. "
Subromaniam also said that the ministry has published a list of items that it proposes to be exempted from the tax. SST tax
However, he pointed out that the list contains only elements that the Customs Department proposes to exempt, adding that Parliament will make a final decision.
The list can be found here: http://www.customs.gov.my/
The ministry has also downloaded a list of frequently asked questions about SST that can be found at the FAQ: http: // www.customs.gov.my/ [19659002]
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