Sales and Service Tax to be in effect from September 1, 2018

KUALA LUMPUR: In a press conference last night, Tun Dr. Mahathir, the prime minister of Malaysia announced that the new Sales and Service Tax or SST as it is called, will be implemented from September 1, 2018. The government had previously removed the Goods and Service Tax (GST) earlier this month. Due to this most of the manufacturers had announced a reprieve in the prices of their vehicles. While Mahathir didn't reveal the exact SST amount, it is likely to be higher than the previous 10 percent.

Now is the right time to go and buy the automobile of your choice. Currently, with no GST being implemented, cars, as well as motorcycles, have nearly 1/4th of their price shaved. Couple this with the Hari Raya Aidilfitri celebration discounts being doled out currently and you get the most bang for the buck.

We are a highly price sensitive market and given the performance of the RM in terms of global economy, it is but natural that lower prices are the most attractive for us. It is highly likely that the economy will see a fillip in the next three months with sales of cars and bikes set to be at an all-time high. Before Eid-Ul-Fitar, it is expected that most of the premium vehicle makers will have already completed their yearly quota of sales.