Malaysia’s renewed love for Tun Dr Mahathir Mohamad would no doubt be stronger in the next few months; three to be exact.
Aside from announcing the 50% discount on all tolled roads for the two days before Hari Raya, the nonagenarian also said that the Sales and Services Tax (SST) will make its comeback at the beginning of September 2018, as the zero-rated GST kicks in this Friday, 1st of June 2018.
This effectively means that there’ll be a “tax holiday” between June and September; enjoy it while it lasts. If you’ve read our recent opinion on whether or not it would be the right time to buy a car, you’d know that the situation is not as straightforward as it seems.
While we wouldn’t speculate on what car prices will be like post-SST, (which will revert to the previous rate of 10%) it did experience a slight reduction when the 6% GST was introduced back in early 2015. Analysts from different quarters have predicted that, should SST be set at 10%, there should be a rise in car prices again – a statement also released by the Malaysian Automotive Association.