Like coming back to reality after a long vacation, coming out of the tax holiday definitely had us wishing that we could enjoy lower prices on goods and services a bit longer.
Thankfully, there’s some good news—at least if you’re in the market for a new ride—because according to Finance Minister Lim Guan Eng, several car models have recorded a price reduction of up to RM3,000 after the implementation of the Sales and Services Tax (SST)!
The much-loved Perodua Myvi 1.5L AV – Automatic recorded a price of RM54,090 after SST, compared to a price tag of RM55,300 before SST. At RM40,390, the Perodua Axia also recorded an RM1,107 reduction in price after the implementation of SST.
But it’s not just limited to local cars either! Other models that enjoy a lower price tag include:
- Honda Jazz 1.5 (RM83,633 after SST; RM85,750 before SST)
- Toyota Vios (RM93,200 after SST; RM93,980 before SST)
- Volkswagen Polo (RM74,900 after SST; RM76,888 before SST)
- BMW 118i (RM185,800 after SST; RM188,800 before SST)
Speaking about the reasoning for this price reduction, Finance Minister Lim Guan Eng was quoted by The Star as saying, “This is because we don’t collect as much (tax) compared with the GST, the prices of goods can be flexible and it is also adopted by the government to ensure prosperity for the people.”
Nobody likes taxes, and we’ll miss the tax holiday for sure, but it’s nice to know that we don’t necessarily have to pay higher prices on everything with the re-introduction of SST.