• No GST on EPF Withdrawals
The Employees Provident Fund (EPF) has informed its members that the goods and services tax (GST) will not be imposed on EPF withdrawals. In a press release on Thursday, the EPF also advised its members not to appoint any agents or third parties to help in withdrawals. “Members who meet the requirements are advised to deal directly with the EPF to make withdrawals,” it said.
• Telco companies to impose 6% GST on the prepaid top-up
Telecommunication companies are allowed to impose the 6% Goods and Services Tax on the prepaid top-up in lieu of additional talk time. “A meeting was held with the chief executives of all the telco companies this morning and a decision was made," Customs GST director Datuk Subromaniam Tholasy said. “The telcos have two choices, either maintain the prepaid reload card prices with the 6% GST absorbed, or to charge the 6% on top of the reload card price but give consumers additional airtime. They have agreed to the latter," he said.
The additional airtime given is only applicable for the next three months and should not have any significant impact on the financials for the Malaysian mobile operators.
• Telco companies have agreed to reduce their broadband rates.
Telecommunciations companies have agreed to reduce their broadband rates and the details of the reduction will be announced this month. Minister of Communications and Multimedia, Datuk Seri Shabery Cheek said on Thursday the drop in broadband prices would be more than 6%.
• Protasco bagged RM77m contract to maintain the federal roads in Sarawak
Protasco Bhd’s unit has bagged a RM77m contract to maintain the federal roads in Sarawak. It said on Thursday its unit HCM Engineering Sdn Bhd was awarded the contract by the Public Works Department. The contracts included the construction of four overtaking lanes in Sibu and Bintulu divisions. Protasco said the project was expected to be completed by April next year.
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