Malaysia exempts some foods from expanded sales tax

The Malaysian Finance Ministry announced a 5% Sales and Service Tax (SST) on locally manufactured and imported goods, effective July 1. The ministry specified exemptions for essential imported foods like rice, sugar, and meat, as well as locally grown fruits and cooking oil. The tax applies to imported fruits, but not their local counterparts. This expanded SST aims to bolster the country's finances by increasing revenue and broadening the tax base, according to the Finance Ministry's statement on Monday.