How are we looking SST wise?

[iffy38]

I could be behind the curve on this, but does the new SST 2.0 include watches?

http://www.thesundaily.my/news/2018/07/30/mwta-wants-timepiece-exempted-sst

[iffy38]

Nobody knows?

[Cocas]

Please find your request info from this thread.

http://www.malaysiawatchforum.com/index.php?topic=20196.msg172219#msg172219

Watch is not on the proposed exempt list, so 10% Sales Tax applies.

[iffy38]

Looks like MWTA request is not successful. Will see if there are further updates in the future.

[chuahsky]

10% sales tax for wrist watches..

[dommie85]

Yah... looks like it's gonna be 10%... saw it in the list

[epsilon82]

Buy your grail watch before SST!


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[dommie85]

I wish I could... no stock already, have to be in waiting list... sigh

[epsilon82]

I am not sure the waiting list is actually working or not in Malaysia


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[dommie85]

Had the same thought as you. That’s why I am trying it out and see if the AD does call me or not

[tim.thavi]

Had the same thought as you. That’s why I am trying it out and see if the AD does call me or not

Depend on the brand and the shop I guess. Rolex waiting list is likely to be imaginary (hope someone prove me wrong though). For something like Tudor GMT, i know you can get on waiting list but with a full deposit at certain AD (basically advance purchase). And the annoying part is if the price does increase when you pick up the watch, you need to pay the difference...

Outside, the hot models from typical hot brand, i cant imagine any issue if you want to pick the watch up before SST come in.

[trimble]

Will a 10% increase means a 10% on top of the current retail price?

[dommie85]

Should be lah. I asked an AD about this too and he said that price will increase next month

[Cocas]

Because of this SST, I spent 28k for 4 watches lately.

[dommie85]

Because of this SST, I spent 28k for 4 watches lately.

Wow... tycoon here 

[epsilon82]

Because of this SST, I spent 28k for 4 watches lately.

Good for you bro and you are saving 2.8K next month.


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[Cocas]

@dommie85 bro.  I am just a small fry here.

Thanks @epsilon82 bro!

[lee882888]

Then does it affects the second hand market? As in prices increases as well

[spayre]

Then does it affects the second hand market? As in prices increases as well

I believe so.. cause wingwah dropped their prices when the GST was temporarily abolished. Won't be suprised when SST comes, watches (new and pre-owned) will go up to cover the additional charges

[dommie85]

Then does it affects the second hand market? As in prices increases as well

I believe so.. cause wingwah dropped their prices when the GST was temporarily abolished. Won't be suprised when SST comes, watches (new and pre-owned) will go up to cover the additional charges

I think this will depends on whether the 2nd hand seller's shop is registered or not for the SST. Shops like Wing Wah, I believe they're registered but some other grey resellers who doesn't record a quick turnaround, they may not be registered for SST (they may take advantage though to charge you SST and increase their profit)... just my opinion

[ethan89]

Then does it affects the second hand market? As in prices increases as well

I believe so.. cause wingwah dropped their prices when the GST was temporarily abolished. Won't be suprised when SST comes, watches (new and pre-owned) will go up to cover the additional charges

Wingwah price is very close to the global market, I believe they do refer to chrono24. They can't simply charge you 10% more upon their current selling price, since their current selling price is around the peak upon the global market.
GST or SST doesn't affect much on secondary market which driven by demand and supply.

[lamkinpark]

SST is not like GST where it is multi layered. SST will be imposed 10% import tax for those newly incoming watch, and authorized dealer will definitely increase the price to maintain their profit margin. Not sure how will the SST affect the grey seller pricing.

[flatcap200]

SST is not like GST where it is multi layered. SST will be imposed 10% import tax for those newly incoming watch, and authorized dealer will definitely increase the price to maintain their profit margin. Not sure how will the SST affect the grey seller pricing.

Grey dealers should be affected the same way unless the watches are brought in without customs declaration. If however there is an increase in prices across the board including for pre SST stock, these dealers are liable to be prosecuted under anti-profiteering laws.

[lamkinpark]

SST is not like GST where it is multi layered. SST will be imposed 10% import tax for those newly incoming watch, and authorized dealer will definitely increase the price to maintain their profit margin. Not sure how will the SST affect the grey seller pricing.

Grey dealers should be affected the same way unless the watches are brought in without customs declaration. If however there is an increase in prices across the board including for pre SST stock, these dealers are liable to be prosecuted under anti-profiteering laws.

@flatcap200, well said. But I would guess both AD n grey seller will be taking the chances with keeping their stock at the moment.

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[dommie85]

SST is not like GST where it is multi layered. SST will be imposed 10% import tax for those newly incoming watch, and authorized dealer will definitely increase the price to maintain their profit margin. Not sure how will the SST affect the grey seller pricing.

Grey dealers should be affected the same way unless the watches are brought in without customs declaration. If however there is an increase in prices across the board including for pre SST stock, these dealers are liable to be prosecuted under anti-profiteering laws.

I don't think there's ways to detect if the grey dealer's watches are brought in with or without customs declaration...