Survey: Half of Malaysians polled believe prices will go down after zero GST

12-Jun-2018 Intellasia | Malay Mail | 6:02 AM Print This Post

Will the prices of goods come down now that the federal government has stopped collecting the Goods and Services Tax (GST)?

Although it is early days still with the GST zero-rated barely less than two weeks ago, over half of 1,000 respondents in a survey done by market research firm Nielsen Malaysia think so.

The June survey showed 57 per cent of the consumers polled believe that prices will drop with the GST at a zero rate, while 33 per cent believe prices will remain unchanged and 11 per cent believe that prices will go up.

The federal government stopped collecting the GST on June 1.

Malaysians will now enjoy a tax holiday, as the GST’s replacement the Sales and Services Tax (SST) will only be reintroduced on September 1.

The finance ministry had said the zero-rating of GST and the September reintroduction of the SST is expected to help Malaysians save RM17 billion for the rest of the year.

The ministry had predicted that this move will help boost consumer spending and consumer optimism, as well as business profits in Malaysia.

The June survey involved 1,000 consumers ranging between the ages of 18 to 64 and of different races and income groups throughout the country.


Category: Malaysia

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