total of 5,445 consumer goods to be exempted from sst - small electrical appliances

by:Yovog     2019-09-01
total of 5,445 consumer goods to be exempted from sst  -  small electrical appliances
Putrajaya: the number of consumer goods exempted from sales tax is 10 times the number of goods now exempted-
Tax on goods and services that have been abolished (GST).
A total of 5,443 Consumer goods are exempt from sales tax of 5% or 10%.
When the GST was introduced in 2015, only 545 consumer goods were exempted.
Deputy Director General of Customs-
General Datuk Seri subromanthousray revealed a list of items exempt from sales and service taxes (SST)
At a briefing with the media on Thursday (Aug 30).
Non-taxable items include general commodities such as daily food, newspapers and sanitary napkins such as live animals, rice, edible oil and bread, as well as vehicles such as bicycles, motorcycles Below 250cc, and forklifts
Private hospital services such as wards and food, veterinary services and flights in Sabah and Sarawak will also be taxed.
What still needs to be taxed is electrical appliances such as washing machines and radios, personal items such as shampoo and shower gel, and processed foods such as juice and butter.
Subromaniam also revealed some service taxes
There are 43 applicable merchants.
49% compared to 65.
85% of services are GSTapplicable.
"There are 472,000 businesses registered with GST, but we expect only 80,000 to be registered with SST," he said . ".
"About 85% of enterprises will withdraw from the tax Network," he said . " This will help lower prices, he added, as small manufacturers, cottage industries and small retailers will not be burdened by taxes.
Subromaniam said that the compliance cost of SST taxable enterprises is also low, further reducing the price.
"There is no refund mechanism . . . . . .
"Unlike GST, they do not need to purchase special accounting software, conduct staff training or appoint GST consultants to manage their accounts," he said . ".
Commodity and service taxes are a complex tax system for businesses because there are 36 tax laws for different projects, says Subromaniam.
"The government has taken into account the well-being of the people --being.
SST's tax revenue will be halved (
RM40bil collected from GST to RM21bil expected to be collected by SST)
But our goal is to reduce the cost of living . "
Related report: SST only implements restaurants with turnover exceeding rm1.
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