With effect from 1 July 2025, the Government has further expanded the application of the Sales and Service Tax (“SST”) on certain financial services that are charged for fees, commission or similar payment listed in Appendix A of the Guide on Financial Services (“the Guide”), available on the Royal Malaysian Customs Department ("RMCD") MySST website.

In accordance with the Service Tax Policy No.1/2025 (Amendment No.2) dated 17 September 2025, effective 1 October 2025, SST will be applied at a rate of 8% to financial services that are charged for fees, commission or similar payment by Principal Asset Management Berhad and Principal Islamic Asset Management Sdn. Bhd. (collectively known as “Principal”) to our customers.

For more information on the SST implementation:

• Please refer to the Guide on Financial Services in the Royal Malaysian Customs Department ("RMCD") MySST website in “Service Tax Industry Guide”; and
• Please refer to the FAQ on SST here.

We will continue to provide regular updates if there are further announcements from the Government.