Beginning 1st January 2016, all prepaid reloads in Malaysia will be sold without the extra 6% charge. This is in line with the directive to exempt prepaid reloads from GST. It doesn’t mean that prepaid is free from GST, as it will be charged upon usage, instead of being paid upfront.
Fortunately, the government will be offering GST rebates as announced during Budget 2016. To address concerns, MCMC has published the full details ahead of its implementation on new year’s day
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Malaysian prepaid players we’re given a 1st November deadline to revise its top up/reload pricing to its pre-GST days. At the moment, a RM10 top up would cost RM10.60 while a RM50 top up costs RM53, inclusive of 6% GST.
The Ministry of Finance (MoF) has been slaving away tinkering and adjusting the scale of the annual Budget announcement. Being hard hit by drops in oil trade prices due to an excess of supply and micromanaging the qualms of 1MDB, our Prime Minister Datuk Seri Najib Tun Razak has a lot on his hands – if that wasn’t clear enough. But will the ICT market win or lose when Budget 2016 is read?
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