PUTRAJAYA – Prime Minister Datuk Seri Najib Tun Razak today announced that the rate of the Goods and Services Tax (GST) will be maintained at the current six per cent.
GST was introduced on April 1, 2015.
The premier today announced the recalibration of the 2016 Budget in line with the challenges in the global economic environment.
In his Budget presentation on Oct 23, 2015 Najib said GST collection was expected to increase government revenue to RM39 million versus RM27 million recorded in the first eight months of 2015.
Some basic goods are listed as zero-rated items including over-the counter drugs, rice, livestock and baby formula. – BERNAMA