Malaysia to axe GST on June 1

Making good of its election pledge, the new Malaysia government is abolishing the goods and services tax (GST) effective June 1. In its place will be a sales and services tax (SST) to be implemented at another date.

To consumers in Malaysia, this works out to be a six-percent savings on purchases. Between now and June 1, it would be wise to put off purchase of luxury and big ticket items such as cars and property as the savings can be substantial.

Take for instance, the Proton Perdana 2.4 AT (above) which has a nett selling price of RM133,733.56. The savings is around RM7,569.82.

Even buys such as smartphones and computers can result in savings that can be used to purchase accessories such as power banks and headsets.

It’s time to get ready for some big time shopping come June 1.

Enjoy the savings until the SST, which is expected to be lower than six-percent, comes on board.