After more than a month since the new government announced that the Goods and Services Tax (GST) will be abolished, Malaysia has experienced an economic boom thanks to the decrease in pricing.
But have you ever wondered how many items around us are actually affected by the abolishment and if the prices are significantly lower than we expected it to be?
A survey conducted by the government revealed that prices for 72 per cent
of necessity good dropped after GST was declared zero-rated, as reported by The Malay Mail
The price of basic necessities reportedly decreased between one per cent to 13 per cent.
And overall, 97 per cent
of goods that were previously taxed six per cent GST also saw a decrease in pricing.
Interestingly, the price of 56 per cent
of goods that were already zero-rated during the GST era also experienced price reductions after the tax was abolished.
However, despite the abolishment, the National Price Council are still receiving complaints regarding prices of goods increasing or remaining the same even after post-GST.
“Complaints were focused on food and drink prices, mostly at restaurants and ‘warungs
’,” Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail told The Malay Mail
Throughout the month of June, the ministry received 968
complaints of prices remaining the same while 1,023
complaints were for goods that experienced a price hike.