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KUALA LUMPUR (August 8): The Parliament has passed the Service Tax Bill 2018 today through voice vote, after Finance Minister Lim Guan Eng read the bill for the third time.
Under the Service Tax Bill 2018, a 6% service tax will be charged on any taxable service provided in Malaysia by a registered person in the course of carrying out a business.
The Service Tax Bill 2018 forms a part of the country's proposed Sales and Services Tax (SST) that will be implemented from Sept 1 this year.
Only 43.5% of services will be subject to the SST, compared with the 64.8% of services that were subjected to the goods and services tax (GST).
New types of services to be subjected to the 6% tax, are gambling activities (betting, casinos, clubs, lotteries and horse racing), domestic flights, chartered flight services including helicopters, and IT services.
The Parliament had yesterday passed the Sales Tax Bill 2018. Yesterday, theedgemarkets.com reported that the Sales Tax Bill 2018, which involves a 10% sales tax, was passed with a resounding majority by voice vote, despite arguments put up by Barisan Nasional backbenchers.
It was reported that under the Sales Tax Bill 2018, a 10% sales tax would be charged on any taxable goods manufactured in Malaysia and sold, used or disposed of by a registered manufacturer. It was reported that the Sales Tax Bill 2018 also applies to taxable goods imported into Malaysia by any person. — theedgemarkets.com
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