FMT - Minister: Vegetables and meat 30-50% cheaper after zero-GST (extracts):
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PUTRAJAYA: Fresh produce prices have dropped significantly after Goods and Services Tax was zero-rated on June 1, said Agriculture and Agro-based Industry Minister Salahuddin Ayub.
He said it may take some time for prices of other good and services to be reduced.
However, he said there were already noticeable price reductions in fresh produce, such as vegetables. “Vegetable prices have dropped by 50% while prices of poultry and meat, such as beef, have also been reduced,” he said.
“I was told that you can buy poultry at RM5 or RM6 per kilogramme. Beef can be purchased at RM30 to RM33, but tenderloin (batang pinang) is more expensive,” he said at a Hari Raya open house at the Seri Perdana complex, the official residence of the prime minister.
Salahuddin noted that essential items have dropped 30-50% in price.
Amazing. I didn't realise that vegetables were previously GST-ed at 50%, surely one of the HIGHEST GST rate in the world.
But now thanks to the removal of the GST, the vegetables are 50% cheaper.
What an amazing revelation by Minister YB Salahuddin Ayub right on Hari Raya Day, praise be to Allah swt.
He said it may take some time for prices of other good and services to be reduced.
However, he said there were already noticeable price reductions in fresh produce, such as vegetables. “Vegetable prices have dropped by 50% while prices of poultry and meat, such as beef, have also been reduced,” he said.
“I was told that you can buy poultry at RM5 or RM6 per kilogramme. Beef can be purchased at RM30 to RM33, but tenderloin (batang pinang) is more expensive,” he said at a Hari Raya open house at the Seri Perdana complex, the official residence of the prime minister.
Salahuddin noted that essential items have dropped 30-50% in price.
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OH MY GAWD, previously all these vegetables must have been GST-ed |
Amazing. I didn't realise that vegetables were previously GST-ed at 50%, surely one of the HIGHEST GST rate in the world.
But now thanks to the removal of the GST, the vegetables are 50% cheaper.
What an amazing revelation by Minister YB Salahuddin Ayub right on Hari Raya Day, praise be to Allah swt.