{"id":356957,"date":"2024-02-14T16:39:46","date_gmt":"2024-02-14T08:39:46","guid":{"rendered":"https:\/\/www.ziet.co\/v2024\/?p=356957"},"modified":"2024-10-11T16:40:27","modified_gmt":"2024-10-11T08:40:27","slug":"the-ugly-truth-about-malaysias-tax-system","status":"publish","type":"post","link":"https:\/\/www.ziet.co\/v2024\/playlist\/news-economy\/the-ugly-truth-about-malaysias-tax-system\/","title":{"rendered":"The Ugly Truth About Malaysia\u2019s Tax System"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"The Ugly Truth About Malaysia\u2019s Tax System\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/dUmzXz4XPuY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized has-custom-border\"><a href=\"https:\/\/www.youtube.com\/watch?v=dUmzXz4XPuY\" target=\"_blank\" rel=\"noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"313\" src=\"https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo.png\" alt=\"\" class=\"wp-image-354936\" style=\"border-style:none;border-width:0px;border-radius:5px;width:180px\" srcset=\"https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo.png 1080w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-300x87.png 300w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-1024x297.png 1024w, https:\/\/www.ziet.co\/v2024\/wp-content\/uploads\/2024\/09\/Listen-on-Youtube-logo-768x223.png 768w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/a><\/figure>\n\n\n\n<p>We used to have GST, and now SST, have you ever wondered which one cost us more? <\/p>\n\n\n\n<p>\ud83d\udd34 \ud835\udde6\ud835\ude01\ud835\uddee\ud835\uddff\ud835\ude01 \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\udddc\ud835\uddd5\ud835\uddde\ud835\udde5 \u27a1\ufe0f <a href=\"https:\/\/www.interactivebrokers.com\/en\/whyib\/overview.php?nored=t\" target=\"_blank\" rel=\"noreferrer noopener\">Click Here<\/a><\/p>\n\n\n\n<p>\u2b07\ufe0f Timestamps:<br>0:00 \u2192 Intro<br>0:27 \u2192 Understanding GST and SST<br>3:00 \u2192 From GST to SST<br>5:19 \u2192 GST vs SST &#8211; Which is Better?<br>9:03 \u2192 Which system suits Malaysia the best?<br>11:43 \u2192 Conclusion<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Tax collected in Malaysia used to be called GST, but now it&#8217;s called SST. So, what&#8217;s the deal with SST? Is it really needed for Malaysia&#8217;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?<\/p>\n\n\n\n<p>First, let&#8217;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.<\/p>\n\n\n\n<p>Then, in 2018, Malaysia switched to using SST, which is supposed to be a simpler tax structure. It&#8217;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&#8217;s also a 6% tax for some services we use. SST claimed to make things cheaper and simpler, but does it really?<\/p>\n\n\n\n<p>Now, there\u2019s talk about maybe bringing GST back to help Malaysia\u2019s economy, especially since we\u2019re making less money from taxes with just SST. GST could help get more money for important things like healthcare and roads.<\/p>\n\n\n\n<p>Watch the video to get the actual apple to apple comparison of which tax system is better!<\/p>\n\n\n\n<p>\u2757\ufe0fUSEFUL LINKS\u2757\ufe0f<br>\u2705Start Investing in the U.S. market now!\ud83d\udc47\ud83c\udffb<br>\u2022 <a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdm_1un9xXF5zv7-lsaLwgVV\" target=\"_blank\" rel=\"noreferrer noopener\">Investing in the US market<\/a><\/p>\n\n\n\n<p>\u2705Full Interactive Brokers Playlist\ud83d\udc47\ud83c\udffb<br>\u2022 <a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdmoHyOx4ft2q9L3ue1HjE8n\" target=\"_blank\" rel=\"noreferrer noopener\">Interactive Brokers Guide<\/a><\/p>\n\n\n\n<p>\u2705Beginner&#8217;s Step-By-Step Playlist to Start Investing \ud83d\udc47\ud83c\udffb<br>\u2022 <a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdkmIijHCaNqj19QaWzXWY1q\" target=\"_blank\" rel=\"noreferrer noopener\">Beginner&#8217;s Guide to Investing<\/a><\/p>\n\n\n\n<p>\u2705Exchange-Traded Funds (ETFs) Playlist \ud83d\udc47\ud83c\udffb<br>\u2022 <a href=\"https:\/\/www.youtube.com\/playlist?list=PLNtoL6rfNKdk74aq-253KcjLIFfn9Z6Y4\" target=\"_blank\" rel=\"noreferrer noopener\">Exchange-Traded Funds (ETFs)<\/a><\/p>\n\n\n\n<p>\u2705\ud83c\udfa5All the gears that I use to make my YouTube videos: <a href=\"https:\/\/kit.co\/Ziet\/youtube-gears\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/kit.co\/Ziet\/youtube-gears<\/a><\/p>\n\n\n\n<div class=\"wp-block-group has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"border-radius:5px;background-color:#f5f5f7\">\n<h4 class=\"wp-block-heading\"><strong>Follow Ziet<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-social-links has-icon-color is-style-default is-content-justification-left is-layout-flex wp-container-core-social-links-is-layout-1 wp-block-social-links-is-layout-flex\" style=\"margin-right:0;margin-left:0;padding-right:0;padding-left:0\"><li style=\"color: var(u002du002dast-global-color-5); 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Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.<\/p>\n\n\n\n<p>None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We used to have GST, and now SST, have you ever wondered which one cost us more? \ud83d\udd34 \ud835\udde6\ud835\ude01\ud835\uddee\ud835\uddff\ud835\ude01 \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\udddc\ud835\uddd5\ud835\uddde\ud835\udde5 \u27a1\ufe0f Click Here \u2b07\ufe0f Timestamps:0:00 \u2192 Intro0:27 \u2192 Understanding GST and SST3:00 \u2192 From GST to SST5:19 \u2192 GST vs SST &#8211; Which is Better?9:03 \u2192 Which system suits Malaysia the best?11:43 \u2192 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&#8217;s called SST. So, what&#8217;s the deal with SST? Is it really needed for Malaysia&#8217;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&#8217;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&#8217;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&#8217;s also a 6% tax for some services we use. SST claimed to make things cheaper and simpler, but does it really? Now, there\u2019s talk about maybe bringing GST back to help Malaysia\u2019s economy, especially since we\u2019re 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! \u2757\ufe0fUSEFUL LINKS\u2757\ufe0f\u2705Start Investing in the U.S. market now!\ud83d\udc47\ud83c\udffb\u2022 Investing in the US market \u2705Full Interactive Brokers Playlist\ud83d\udc47\ud83c\udffb\u2022 Interactive Brokers Guide \u2705Beginner&#8217;s Step-By-Step Playlist to Start Investing \ud83d\udc47\ud83c\udffb\u2022 Beginner&#8217;s Guide to Investing \u2705Exchange-Traded Funds (ETFs) Playlist \ud83d\udc47\ud83c\udffb\u2022 Exchange-Traded Funds (ETFs) \u2705\ud83c\udfa5All the gears that I use to make my YouTube videos: https:\/\/kit.co\/Ziet\/youtube-gears Follow Ziet Disclaimer: This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success. None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. 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