Legal! Government Announces SST-Free Gold

thecekodok


Treasury Secretary-General, Datuk Johan Mahmood Merican announced that gold purchases will not be subject to Sales and Services Tax (SST).


He stated that the government will not impose any tax on gold purchases due to cultural, economic, investment, people's well-being and business growth factors.


Furthermore, Johan said that gold plays an important role in various communities as a symbolic gift during important events such as weddings and births.


Johan also discussed that although some consider gold to be a high-value consumer good, the government has decided to maintain the tax rate at zero.


He also stressed that the government will exempt apples and oranges from tax since these fruits are widely consumed among the people, especially during the Chinese New Year and Hari Raya celebrations.


He added that the government chose to maintain the SST rather than re-introduce the Goods and Services Tax (GST) to ease the tax burden on Malaysians.