Retail Group Malaysia maintains 2018 retail sales growth at 5.3%
17 Jul 2018 / 12:14 H.
KUALA LUMPUR: Retail consulting firm Retail Group Malaysia has maintained its projected sales growth rate for the local retail industry in 2018 at 5.3% after the government announced that the sales and services tax (SST) rate will be set at 10% for sales and 6% for services.
SST will be reintroduced on Sept 1, 2018.
Managing director Tan Hai Hsin said new economic policies to support economic growth are needed in the next few months.
"The benefits of these policies must be made known to and understood by the public. This will support consumers' spending in 2019," he said at a press briefing here this morning.