On 10 October 2014, Malaysia's Prime Minister Najib Razak presented Budget 2015. Key tax aspects of the budget are summarized as follows:
GST
The Budget for 2015 includes several goods that will be exempt from the new Goods and Services Tax (GST), which will be implemented in April 2015, including:
- All types of fruits whether local or imported
- Breads and certain noodles
- Coffee powder, tea dust and cocoa powder
- Essential medicines
- Books and newspapers
- RON95 petrol, diesel and LPG
In or…