Malaysia's finance ministry says no date yet for abolishing GST
KUALA LUMPUR: Malaysia has not yet set a date for the abolishment of the Goods and Services Tax (GST), the finance ministry said in a statement on Monday (May 14).
Malaysia’s newly elected administration, led by Prime Minister Mahathir Mohamad, had promised to abolish the deeply unpopular tax within its first 100 days.
The ministry said rumours on social media that the tax would be abolished effective Jun 1, with no new tax to be imposed for first two years of the new administration, were untrue.
“As such, all businesses must follow current law and continue imposing GST as required,” the ministry’s statement said.
Mahathir had said on Sunday the country had sufficient revenue to remove GST, state news agency Bernama reported.