One week after winning the election, Pakatan Harapan has announced the reduction of the Goods & Services Tax (GST) rate from 6% to 0% effective 1 June 2018. GST has been around since 2015, and effectively reduced the price of many locally-produced vehicles. It replaced our Sales and Services tax, which hasn’t been reintroduced as of yet.
Because no sales tax replaces GST, this MIGHT mean a reduction in the price of goods (including cars) in about 14 days. Does that mean you should hold out on your purchase? Well, perhaps. Don’t hesitate to put down a refundable booking fee if available.
Business owners with any enquiries can contact the Royal Malaysian Customs at 1300-88-8500.
