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Eateries subject to SST if turnover exceeds RM1.5m annually

August 30, 2018 6:40 AM
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PUTRAJAYA: Malaysian eateries will only be subject to the Sales and Services Tax (SST) if their annual turnover exceeds RM1.5 million annually, said Finance Minister Lim Guan Eng (pix).

He said the ministry agreed to raise the turnover threshold from the RM500,000 set under the Goods and Services Tax (GST), and asserted that the decision was final.

"We have agreed to raise the amount after getting requests for the threshold to be raised from RM500,000 by various parties including from nasi kandar restaurants and coffee joints nationwide, so we have raised it initially to RM1 million," he said.

However, Lim said business owners were dissatisfied and some even requested for the threshold to be raised to RM3 million, claiming that their operational costs were high since their businesses were in Kuala Lumpur.

"So we agreed to raise it to RM1.5 million," he told reporters after briefing the media on the implementation of the SST here today.

As such, Lim expressed hope that there would not be any increase in prices, and urged consumers to be vigilant against eateries that do so.

Source: thesundaily.my

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