KUALA LUMPUR: Withdrawals from the Employees Provident Fund (EPF) are not subjected to the Goods and Services Tax (GST), which took effect yesterday.
In a statement today, the EPF reminded its members not to appoint agents or third parties to assist in making any withdrawals.
â€œMembers who meet the requirements are advised to deal directly with the EPF to make withdrawals.
â€œAs for the EPF Members Investment Scheme, the EPF will not impose the GST on the amount transferred for investments,â€ it said.
It said under the scheme, members were allowed to transfer a portion of their EPF money to invest in the unit trust funds approved by the EPF.
â€œMembers are strongly advised to understand the costs and risks involved, and seek advice from qualified advisers, before deciding to participate in the scheme,â€ it said.–BERNAMA