Tel :
Tel :
The Federation of Malaysian Steel Manufacturers (Misif) reiterated that the Sales and Service Tax (SST) on primary steelmaking raw materials, including scrap, is weakening the industry's competitiveness. From July 1, 2025, various steel-related products will be subject to the SST, with rates ranging from 5% to 10%. 35A230 Non oriented magnetic steel, The previous compliance grace period ended last year, and the latest SST adjustments announced in January this year did not grant any exemptions to steel products.
Misif rejected a recent proposal by members of parliament to impose a 10% SST on iron ore, coking coal, and coke as a "trademark" for exempting scrap from the SST. Currently, iron ore, scrap, coking coal, and coke are all subject to a 5% SST rate.
Misif argues that this approach merely shifts cost pressures from one segment of the industry to another, 35A230 Non oriented magnetic steel, failing to address the fundamental structural challenges facing the domestic steel industry.
Misif stated that he continues to support the government's efforts to strengthen fiscal sustainability, 35A230 Non oriented magnetic steel, but also pointed out that policies concerning core industrial inputs must be carefully calibrated to ensure alignment with national industrial development, decarbonization targets, and supply chain resilience.
