The Malaysian government is still deciding on extending the SST exemption on cars, which has led to RM4.8 billion in lost revenue since June 2020. Finance Minister Tengku Zafrul highlighted that further extensions would mean more forgone funds, which could support development and inflation subsidies. He also noted the impact of recent U.S. interest rate hikes on Malaysia's economy due to its global ties, stressing the need for prudent monetary and fiscal policies.NO DECISION YET ON FURTHER SST EXEMPTION FOR CARS
The Malaysian government is still deciding on extending the SST exemption on cars, which has led to RM4.8 billion in lost revenue since June 2020. Finance Minister Tengku Zafrul highlighted that further extensions would mean more forgone funds, which could support development and inflation subsidies. He also noted the impact of recent U.S. interest rate hikes on Malaysia's economy due to its global ties, stressing the need for prudent monetary and fiscal policies.
