Navigating the 6% to 8% SST Increase In Malaysia: What You Can Do About It
Understanding the SST Increase The Sales and Service Tax (SST) in Malaysia is set to increase from 6% to 8% effective from March 1, 2024. This increase was proposed in the national fiscal (Budget 2024) announcement. However, the SST increase will not apply to services such as food and beverages (F&B) and telecommunications where the rate will be maintained at 6%. The increase in SST is expected to impact the cost of living, with consumers likely to feel the pinch. Prices payable by consumers for streaming services and digital advertisements are set to increase at the beginning of March when the SST hike comes into force. The Importance of Earning More by Doing Things Differently In light of these changes, it's important to consider how we can adapt and thrive. One way is by earning more, but not just by working more hours. It's about doing things differently. People who earn more often have certain habits. They believe in their professional value, negotiate for rais