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Govt collects more than RM400 million in Digital Service Tax 29 Dec 2020 / 14:40 H. Pix for representational purpose only. KUALA LUMPUR: The government has so far collected RM428.07 million from digital service providers since enforcement of the Digital Services Tax early this year, said Deputy Finance Minister I Datuk Abd Rahim Bakri. He said the tax was imposed on, among others, Netflix, Amazon, advertisements on social media platforms such as Facebook and Instagram, as well as applications and games on smartphones. “This is a new source of revenue for the country and will be enhance...

KUALA LUMPUR (Dec 29): The previous government's decision to abolish the goods and services tax (GST) has to some extent affected the country's revenue, said Deputy Finance Minister I Datuk Abd Rahim Bakri. He said this was because the country faced a revenue shortfall when the GST was abolished and replaced with the sales and service tax (SST). "The GST was introduced in 2015 before the then government decided to abolish the tax system in 2018. "Judging from the data, GST collection was RM44 billion a year and the total during its implementation was RM133.1 billion, while SST colle...

Abolishment of GST affected country’s revenue — Abd Rahim 29 Dec 2020 / 15:41 H. Pix for representational purpose only. KUALA LUMPUR: The previous government’s decision to abolish the Goods and Services Tax (GST) has to some extent affected the country’s revenue, said Deputy Finance Minister I Datuk Abd Rahim Bakri. He said this was because the country faced a revenue shortfall when GST was abolished and replaced with the Sales and Service Tax (SST). “GST was introduced in 2015 before the then government decided to abolish the tax system in 2018. “Judging from the data, GST c...

KUALA LUMPUR (Dec 28): The Dewan Negara today passed five Bills including the Finance Bill 2020, the Customs (Amendment) Bill 2020, and the Excise (Amendment) Bill 2020. Also passed was the Free Zones (Amendment) Bill 2020 and the Temporary Measures for Government Financing Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020. The Finance Bill 2020 and the Temporary Measures Bill for Government Financing Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020 were tabled by Deputy Finance Minister II Mohd Shahar Abdullah. Meanwhile, the Customs (Amendment) Bill 2020, Excise (Amendment)...

Monday, 28 Dec 2020 06:08 PM MYT A general view of Dewan Negara at Parliament, Kuala Lumpur September 2, 2020. ― Picture via Twitter Subscribe to our Telegram channel for the latest updates on news you need to know. KUALA LUMPUR, Dec 28 — The Dewan Negara today passed five Bills including the Finance Bill 2020, the Customs (Amendment) Bill 2020, and the Excise (Amendment) Bill 2020. Also passed was the Free Zones (Amendment) Bill 2020 and the Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020. The Finance Bill 2020 and the Temporary Meas...