Thursday 28 Mar 2024
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KUALA LUMPUR (Mar 10): Retailers and merchants are advised to absorb the Goods and Services Tax (GST) without passing it on to their customers, said Deputy Finance Minister Datuk Ahmad Maslan.

"It is not wrong to absorb it. In fact, they are recommended to do so. They have to discuss with the Customs on the matter," he told reporters on the sidelines of the first Malaysia Conference on Innovation and Entrepreneurship Education organised by the Kuala Lumpur Metropolitan University College (KLMUC) here today.

He said giving rebates was one of the ways retailers compete, especially those operating in an oligopolistic environment.

He also pointed to the example of a retailer, which had caught the attention of the public with its eye-catching billboards that said the company was willing to incur losses, as long as it could please its customers. It also made a promise to pay the 6% GST.

Meanwhile, Ahmad declined to comment on the 1MDB's probe, which has just started.

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