SST Increase: Breaking Down This Week’s Updates and Changes for Businesses
Ng Sue Lynn, Head of Indirect Tax , KPMG
29-Feb-24 12:00
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Enterprise Explores and breaks down the latest SST developments and how it will impact businesses in the lead up to implementation tomorrow (March 1st) with Ng Sue Lynn, Head of Indirect Tax at KPMG.
In a surprise move, the service tax will now be imposed on maintenance and repair (M&R) services and on top of that it stated that it would be effective Monday, the 26th of February, which led to some confusion around the actual start date for the changes and updates to the SST and its increase.
On top of that there’s been some concern over how broad the term ‘Maintenance and Repair’ is and we also explore changes around how the service tax will be applied to the logistics industry, which has now been brought into the Service Tax fold for the first time.
Produced by: Roshan Kanesan, Kishan Sivaswamy
Presented by: Roshan Kanesan
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Categories: government, entrepreneurs, financial wellness
Tags: taxpayers, sst, tax, service tax, budget 2024,