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August 18, 2018 12:42 PM Companies migrating to SST urged to seek further assistance: Customs DG

SUBANG JAYA: Companies that were migrated automatically to the sales and service tax (SST) system, as well as businesses that are taxable, have been urged to seek further assistance to avoid any complications before the implementation date. Royal Malaysian Customs Department director-general Datuk Seri Subromaniam Tholasy said this during a press conference 4

August 18, 2018 7:18 AM Police to record Lim Guan Eng's statement over missing GST refunds

KUALA LUMPUR: Finance Minister Lim Guan Eng's statement over the missing RM19.25 billion in the Goods and Services Tax (GST) Refunds Trust Account will be recorded by the police next week. Lim, who is also DAP Secretary-General, said his full cooperation with the police proves that the new government wants the truth to prevail. He said former Prime Minister 5

August 15, 2018 6:59 AM KK Supermart saw 10-15% sales increment during tax holiday

KUALA LUMPUR: KK Supermart & Superstore Sdn Bhd, which enjoyed 10%-15% sales increment during the tax holiday period, is on track to achieve its sales target for the year, said its founder and executive chairman Datuk Seri Dr KK Chai. "This month, sales will increase over the next two weeks. Once SST (Sales and Services Tax) comes in, market sentiment 6

August 14, 2018 1:53 PM Toll concessionaires’ shares rise

PETALING JAYA: The shares of most toll concessionaires rose today after the government decided to postpone the abolishment of tolls. Among the nine toll concessionaires listed on Bursa Malaysia, Lingkaran Trans Kota Holdings Bhd (Litrak) was the top gainer, rising 2.85% or 13 sen to close at RM4.69 with 704,700 shares traded today. The company, which 5

August 14, 2018 7:27 AM SSM to offer 50-80% discount on compounds imposed

PETALING JAYA: The Companies Commission of Malaysia (SSM) will offer discounts of between 50% and 80%, from Sept 1 to Dec 30, 2018, to companies with outstanding compounds. Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail said the incentive, given in conjunction with SSM's campaign themed, "Comply With Companies Act, Show Interest 4

August 14, 2018 6:40 AM Mercy to focus on Mon State where 10,166 people in 10 villages are hit

KUALA LUMPUR: Mercy Malaysia will focus its Myanmar humanitarian effort on the Mon State which had been hit by the most severe floods in 40 years. Mercy Malaysia Myanmar country manager Shah Fiesal Hussain said the first phase of its relief efforts started in late May when a team of four assessed the situations in Mon, Kayin and Bago states. He said 10 villages 4

August 14, 2018 5:16 AM SSM offers up to 80% discount on compounds

PETALING JAYA: Companies Commission of Malaysia (SSM) is offering up to 80% discount for compounds imposed on companies, starting Sept 1 until Dec 31. Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Saifuddin Nasution Ismail, who officiated SSM National Conference 2018 this morning, said the move was taken in conjunction with SSM’s “Comply 3

August 14, 2018 5:00 AM Ideas: Easing monetary policy, fiscal stimuli not the right move

PETALING JAYA: Easing monetary policy and introducing fiscal stimuli to support consumption may not be the right way to prepare Malaysia for its first recession since 2009, said the Institute for Democracy and Economic Affairs (Ideas). Ideas senior fellow Dr Carmelo Ferlito was responding to Bank Islam Malaysia chief economist Dr Mohd Afzanizam Abdul 3

August 13, 2018 7:15 AM GST refund shortfall more than we thought: Lim

KUALA LUMPUR: Finance Minister Lim Guan Eng has clarified that the amount left in the government's trust fund meant for Goods and Services Tax (GST) refunds was not RM1.486 billion, but only a tenth of that figure. He said in his speech in the Dewan Rakyat last week, he had revealed that the total outstanding amount of GST refunds since its introduction 6

August 12, 2018 4:22 AM No SST for construction services, some building materials

KUALA LUMPUR: The pressure on house prices, industrial and commercial buildings is expected to ease off with the abolition of the Goods and Services Tax (GST) and exemption of some building materials from the Sales and Services Tax (SST), Finance Minister Lim Guan Eng (pix) said. He said the federal government hoped that the construction costs could 15