By Selangor Journal Staffs
KUALA LUMPUR: The Goods and Services Tax (GST) is officially dead.
This were the words of Finance Minister Lim Guan Eng after the Goods and Services Tax (Repeal) Bill 2018 was passed, last night.
This had draw cheers from the Dewan Rakyat mostly from the Pakatan Harapan (PH) side who have been combating the taxation system for over three years.
GST was implemented by the previous Barisan Nasional (BN) government on April 1, 2015.
PH aims to replace GST by reintroducing the ‘less efficient but more people friendly’ the Sales and Service Tax (SST).
The Sales Tax Bill 2018 was passed by the Dewan Rakyat on Tuesday and the Service Tax Bill 2018 was too passed yesterday.
The bills will now be debated in the Dewan Negara.
SST is scheduled to kick off on Sept 1. It was reported that under SST, sales of goods will incur a 10% tax, while the provision of services will be taxed at 6%.