- Consumers need to be prudent in spending and limit unnecessary expenses due to SST hike
- Logistics firms may raise prices to pass extra cost to consumers
- Food and beverage, telecommunications, vehicle parking services exempt from tax hike
- Previously untaxed services now subject to 8% SST
- Government realigning tax collection to include more consumption tax
- Impact of SST hike on consumer expenditure depends on how businesses increase prices
- Average family to face estimated 0.3% increase in household expenditure due to SST hike
- Direct effects of SST hike estimated based on additional revenue from rise in SST percentage
Source: msn.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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