Will The SST Exemption Extended, Or Will It Remain?

According to The Star, the government may extend the sales tax exemption (SST) for new vehicles to help the automotive industry. 

“The government is currently considering the proposal to extend the SST exemption, and a decision will be announced soon,” Datuk Seri Wee Ka Siong, the transport minister said in a recorded statement at the Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM) annual general meeting.

The Malaysian Automobile Association (MAA) has also been steadfast in its requests to the Finance Ministry to extend the SST exemption period; a response from the MOF is still pending.

The SST exemption scheme, which was first introduced as part of the Penjana stimulus package, has already been extended three times, with the most recent one set to expire at the end of June 2022. 

“We welcome initiatives that will help economic recovery, and we will look into the matter to see if the Transport Ministry can help facilitate this proposal.“ Wee added.

Will the SST exemption be extended, or will it remain? 

Stay tuned to Caricarz for further updates!