KUALA LUMPUR: It would take some times to reinstate the Sales and Services Tax (SST) and replace the current Goods and Services Tax (GST), but it is not difficult to do so, Malaysia Retailers Association (MRA) said.
Its newly elected president James Loke said the association has assured that it would give full support to the government’s initiative to scrap GST for the benefit of the people.
“As far as we are concerned, we would definitely do whatever we can to support this new initiative, the abolishment of GST.
“We have to change the point of sales system (POS), and the price tags, particularly for some of the old items as well as GST and non-GST items.
“It would take some time but we do not see that as a problem. We need to engage and discuss with various agencies on how best to implement the new initiatives, so that all our MRA members are well prepared and informed, with a given time frame,” he said when contacted today.
Loke said MRA is also keen to work alongside the new government in reducing the cost of doing business and strengthen the retail industry for a more robust business environment in order to further enhance national economic growth and development towards a prosperous Malaysia.
“MRA is confident that the new government will formulate equal and fair policies for the distributive trade industry.
“As such, MRA is committed to working closely with the government for the development and advancement of our beloved country.”
Prime Minister Tun Dr Mahathir Mohamad in a press conference on Thursday had said that the government will keep its promise to abolish GST after forming the Federal government.
Dr Mahathir said the SST will be reinstated to replace the GST.
Malaysia’s six per cent GST was introduced on April 1, 2015 to replace the SST.