[ad_1]
KUALA LUMPUR: The Minister of Finance, Lim Guan Eng, wants expensive items such as yachts and helicopters to be taxed under the sales and service tax (SST) regime.
He said that the proposed list of articles to be excluded from the SST, published yesterday by the Royal Malaysian Customs Department, is still subject to public review.
"While the list issued by the Customs Department is only a proposal The Ministry of Finance believes that it is necessary to tax the items of great value."
In the proposed list, expensive items such as airplanes, luxury ships, ferries, helicopters, spacecraft and snowboards are exempt from OHS
Government Prepares to Introduce OHS Bill in Parliament to replace the Goods and Services Tax (GST). Lim, earlier this week, said the SST would come into effect as of September 1st.
In today's statement, Lim conceded that the GST was "more transparent and efficient" with respect to OHS, but only GST covers a broader base of taxpayers
This allows the GST to collect RM44bil for the government, compared to RM21bil under the ESS.
"The GST is More Effective and Transparent when Imposed on 60% of Consumers" With the Replacement of the GST with the SST, the RM23bil that Was Collected from the GST Would Be Returned to the People ", a- he said.
[ad_2]
Source link
