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MALAYSIA: Goods and Services Tax Effectively Abolished as of 1 June

Malaysia’s Goods and Services Tax (GST) is set to be, effectively, abolished as of 1 June this year. In the first instance, it will be cut from its present rate of 6% to 0%, before being formally abolished once the country’s parliament repeals the GST Act of 2014.

First imposed in 2015, abolishing GST was one of the campaign pledges of Mahathir Mohamad, the country’s newly-elected Prime Minister.

Content provided by Picture: HKTDC Research
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