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EPF: No GST On Withdrawals

KUALA LUMPUR, April 2 (Bernama) — Withdrawals from the Employees Provident Fund (EPF) are not subjected to the Goods and Services Tax (GST), which took effect yesterday.[br]

 

In a statement today, the EPF reminded its members not to appoint agents or third parties to assist in making any withdrawals.[br]

 

“Members who meet the requirements are advised to deal directly with the EPF to make withdrawals.[br]

 

“As for the EPF Members Investment Scheme, the EPF will not impose the GST on the amount transferred for investments,” it said.[br]

 

It said under the scheme, members were allowed to transfer a portion of their EPF money to invest in the unit trust funds approved by the EPF.[br]

 

“Members are strongly advised to understand the costs and risks involved, and seek advice from qualified advisers, before deciding to participate in the scheme,” it said.[br]

 

— BERNAMA[br]

Source : http://bernama.com/bernama/v8/wn/newsworld.php?id=1122414[br]

 

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