Customs Department Says Easy for Business, Fair for People – Business News

PETALING JAYA: The Sales and Services Tax (SST), which will be implemented from 1 September this year, will be manageable for businesses and will also take into account the needs of the Bottom Household Group -40.

General Manager Datuk Seri Subromaniam Tholasy said the tax included three categories, namely zero percent, five percent and ten percent, but most products would fall into the zero percent category or be zero-rated [19659002]. "In the meantime, six percent will be taxed on services, but not all, compared to the previous Goods and Services Tax (GST)," he told reporters on Thursday.

Subromaniam said that the tax would be reintroduced 2.0 the greater part of its procedure would be based on the Internet compared to the previous traditional manual method, which would result in savings of time and costs due to the reduction of the bureaucracy

"Compared to the GST, it is also much simpler, only to catch manufacturers and service providers.

" All retailers will be unavailable, there will be no deposit fees and no compliance cost, "he said, adding that 472,000 businesses were registered for the GST.

Meanwhile, Customs will download the zero-rated list of OHS products on its website on Thursday.

On August 1, the GST Web site will be converted to OHS. [19659002LeministwillalsobegintheHVThormanagementprogrammefrom24Julytohelplocalindustriespassthroughrsystem

"I am sure that if we can deploy the GST successfully, there will be no problem" I expect the OHS bill to be approved next month, " said Subromaniam

. It was announced earlier that the details of improvements to OHS 2.0 would be announced when the new OHS bill is tabled in Parliament. . – Bernama