Malaysia issues GST rate details

Fri 31st Oct 2014

The various rates and classifications of goods and service have been published for the Malaysia Goods & Services implementation, scheduled to take place on 1 April 2015.

Zero rated goods

Many basic foodstuffs and medicines have been classified as zero rated, meaning there is no VAT charge. The supply of public services and water is also included. Exports of goods and services are exempted from GST. Unusually, not all financial service are exempt. Some will be zero rated in compliance with Sharia law.