We used to have GST, and now SST, have you ever wondered which one cost us more?
🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ Click Here
⬇️ Timestamps:
0:00 → Intro
0:27 → Understanding GST and SST
3:00 → From GST to SST
5:19 → GST vs SST – Which is Better?
9:03 → Which system suits Malaysia the best?
11:43 → Conclusion
We all hate tax. Of course we do, it makes everything you buy more expensive, but all said and done, tax is just as unavoidable as death.
Tax collected in Malaysia used to be called GST, but now it’s called SST. So, what’s the deal with SST? Is it really needed for Malaysia’s economy, or is it just a way for politicians to use it for their own benefit, or even a sneaky way to take more money from us?
First, let’s break down what GST and SST are and how they are different. GST added a 6% tax on most things being sold, from the making of the product all the way to when we buy it. This meant almost everything got a bit more expensive for us, the buyers. But, the businesses could get some of this tax rebate, so it was supposed to not hit them too hard.
Then, in 2018, Malaysia switched to using SST, which is supposed to be a simpler tax structure. It’s only added one time when the product is made, and the rate can be 5% to 10%, depending on what the product is. There’s also a 6% tax for some services we use. SST claimed to make things cheaper and simpler, but does it really?
Now, there’s talk about maybe bringing GST back to help Malaysia’s economy, especially since we’re making less money from taxes with just SST. GST could help get more money for important things like healthcare and roads.
Watch the video to get the actual apple to apple comparison of which tax system is better!
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