GST in Malaysia – How the Goods and Services Tax affects You
As the Budget 2014 (tabled on the 25th of October 2013) announcement came, Malaysians awaited with bated breath on whether the government of the day will or won’t finally introduce a Goods and Services Tax (GST) in Malaysia.
Update: A GST of 6% was announced, with the abolishment of Sales Tax and Service Tax effective 1 April 2015.
For the full lowdown on what was announced in the budget, check out our complete Malaysia Budget 2014 review, as well as our Live Blog: Malaysia Budget 2014 – As it Happened blog post. Alternatively, we covered the Malaysia Budget 2013 in similar fashion. Take a look at our Malaysia Budget 2013 – How the Budget Can Save You Money article.
GST wasn’t the only big thing that was announced, with changes to Personal Income Tax Rates as well.