What is the implication of SST on financial products & services? (Aug 2018)

The Ministry of Finance has announced that 6% of Service Tax will come into effect in Malaysia on 1st September 2018, repealing the Goods and Services Tax (GST) which was first introduced as 6% on 1st April 2015 and further reduced to 0% on 1st June 2018.

Unlike GST which taxes all goods and services unless an exemption is provided, Service Tax is only charged on certain prescribed services made by prescribed taxable persons.

For Life Insurance products, Service Tax of 6% will be chargeable on the premiums of products below:

The 5 companies that Khazanah Nasional invested in may surprise you !!!

First of all, we have to bid farewell to Tan Sri Datuk Azman Mokhtar for his great leadership and guiding the investment arm of our government - Khazanah Nasional Bhd - for the past 14 years. Also, this should extend to all board members who were collectively resigned voluntarily last month.

Khazanah Nasional Berhad is the strategic investment fund of the Government of Malaysia. We are entrusted to hold and manage the commercial assets of the Government, and to undertake strategic investments on behalf of the nation.

Spectacular performance for the past 14 years !!!

RAV: Market value of all equities, securities and cash held;
NWA: RAV less Total Liabilities and adjusted to measure value created

Interesting companies that were invested by Khazanah Nasional Bhd: