SHAH ALAM, Feb 28 – Nestle (Malaysia) Bhd will not determine the price of its products to end consumers in line with the Anti-Profiteering Act 2011 and the impending implementation of Goods and Services Tax (GST) on April 1. Managing Director Alois Hofbauer said following the new tax regime, savings made on its products would be passed on to its retail partners, as Nestle did not sell its products directly to consumers.
He said Nestle would officially announce its product revised price list to retailers sometime next week. “We are still in the midst of finalising the details. Prices will depend on the product itself as some have a higher sales tax while others have a lower sales tax.
“At the end, the retailers are the ones who will set the prices with GST to consumers,” he told reporters after the launch of the “Lebih Nilai, Lagi Hebat’ promotion campaign, officiated by Domestic Trade, Cooperatives and Consumerism minister Datuk Seri Hasan Malek.