MM Online - In Perak, trade groups warn not to expect price drops right after GST goes (extracts):
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Malaysian International Chamber of Commerce and Industry (MICCI) Perak chairman Datuk Lim Si Boon said businesses need time to adjust and maintain the reporting system.
“Consumers may derive some benefits post-June 1 but for businesses, there is still the compliance cost,” he told Malay Mail.
Lim said among the services that would see immediate effect are legal services and motoring.
“It will depend on the products. We cannot say across the board there will be an immediate reduction in price,” he added.
And Sales & Service Tax (SST) is soon to come as part of the fiscal reform initiative by the newly formed Pakatan Harapan government.
“Consumers may derive some benefits post-June 1 but for businesses, there is still the compliance cost,” he told Malay Mail.
Lim said among the services that would see immediate effect are legal services and motoring.
“It will depend on the products. We cannot say across the board there will be an immediate reduction in price,” he added.
And Sales & Service Tax (SST) is soon to come as part of the fiscal reform initiative by the newly formed Pakatan Harapan government.
Wakakaka.