But will this help us consumers?
The Government will have room to reduce the goods and services tax (GST) rate by more than 1% should oil prices climb above US$55 per barrel, according to MIDF Research.
Beginning January 1, GST rebates will be given to Malaysian prepaid customers by the telecommunication operators.
Some retailers are registering more than 40% decline in sales over festive periods in the second half of the year, the Malaysian Employers' Federation (MEF) said today.
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As Budget 2016 draws closer, Malaysians reveal issues they think the upcoming Budget should be making a priority. The answers might surprise you.
A survey found about 90% of the Malaysian workforce unable to cope with the additional expenses incurred after the implementation of the Goods and Services Tax (GST).
Households earning RM2,000 and below are reportedly paying RM51.89 per month (2.59% of their earnings) in the Goods and Services Tax (GST), which was implemented on April 1, said the Finance Ministry.
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Datuk Ahmad Maslan, the deputy finance minister, told the Dewan Rakyat that over RM6 billion was collected in Goods and Services Tax (GST).