No increase in GST percentage for 2017

There will definitely be no increase in the Goods and Services Tax (GST) percentage for 2017, said Second Finance Minister Datuk Johari Abdul Ghani.

GST

“The public can rest assured that there will not be any increase in the GST in 2017,” he told reporters on the sidelines of the National Tax Conference 2016, today.

This is a reiteration of what was previously said by Deputy Finance Minister Datuk Chua Tee Yong and Prime Minister Datuk Sri Najib earlier this year.

The GST currently stands at six per cent since its establishment in April 2015.

Johari said the government is looking at leveling the playing field for small Malaysian businesses who are operating online.

“We do not want to tax these small companies who are just starting up, because this will affect them. If anything, we want to further enrich them,” said Johari.

The two-day conference at the Kuala Lumpur Conference Centre is jointly hosted by the Inland Revenue Board and Chartered Tax Institute of Malaysia (CTIM).

Read More : http://www.nst.com.my/news/2016/08/164198/no-increase-gst-percentage-2017