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Malaysia to Scrap GST From June 1
May 23, 2018
In what’s certainly a shocking decision, after barely 3 years since the implementation of Goods and Services Tax (GST) in the country, Malaysia has decided to scrap the regime from June 1.
The new government announced that the GST rate should be dropped to zero from June-beginning, thus eliminating the tax regime. This is likely to encourage a lot of spending in the country albeit at the cost of more problems for the exchequer.
Malaysia’s new prime minister Mahathir Mohamad had earlier promised to scrap the 6% to extend relief to the people regarding the increasing cost of living.
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