LatestGoods & Service Tax (GST) 30 October 2026
Malaysia Holds GST Plans, Focuses on SST Reform
Malaysia's finance ministry confirms the Goods and Services Tax will not return soon, citing regressive impact on low‑income families, and pledges to enhance the Sales and Service Tax instead. The GST revival is tied to higher incomes and lower living costs, while new GST registration categories aim to ease business compliance. Meanwhile, J&K Bank receives GST relief on notional interest, and concerns arise over a $6.7 million project perceived as a threat to small businesses.
The finance ministry says the GST will stay off the agenda, focusing on improving the existing Sales and Service Tax (SST). *Amir Hamzah* notes the GST would be regressive for low‑income households.
- GST revival conditions – Higher incomes and lower living costs are needed before reconsidering GST, per the minister’s remarks source.
- Business registration ease – New categories on the GST portal simplify registration for various premises, helping firms comply more easily details.
- Bank GST relief – CBIC exempts notional interest under the Fund Transfer Pricing mechanism from GST, benefiting J&K Bank report.
- Small‑business funding worries – A proposed $6.7 million project raises alarms that it could undercut local small businesses discussion.
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