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Malaysia's new govt says GST to be effectively scrapped from June 1

GST would be zero-rated from June 1, the Ministry of Finance said

Reuters  |  Kuala Lumpur 

Malaysia's new government on Wednesday said it would reduce a goods and services tax to zero from June 1, effectively abolishing it, a move that is likely to spur spending in the Southeast Asian nation but put pressure on its fiscal position. Prime Minister Mahathir Mohamad, who won last week's general election, had vowed during the campaign to get rid of the 6 percent GST to address the rising cost of living. Ousted leader Najib Razak had introduced the tax in 2015 amid lower oil prices. GST would be zero-rated from June 1, the Ministry of Finance said in a statement on ...

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First Published: Thu, May 17 2018. 00:45 IST
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