The Malaysian government has extended the Sales and Service Tax (SST) to fee-based financial services. 8% SST charge will be imposed on top of the current service charge of MYR 1.00 by the Bank for all ASNB Fixed Price fund transactions regardless of the investment amount. These charges will be debited from your RHB Current/Savings Accounts.
The service charge and SST are non-refundable. These charges still apply even if the transaction is rejected.
A sample calculation of the charges for ASNB Fixed Price Fund(s) is provided below:
Investment value: = MYR 50,000.00
Service Charge: = MYR 1.00
SST Amount: = MYR 1.00 x 8% = MYR 0.08
Total Payable Amount: = MYR 50,000.00 + MYR 1.00 + MYR 0.08 = MYR 50,001.08
Variable Price Funds have no charges, but ASNB Variable Price Funds include a sales charge plus 8% SST, which will be deducted from your investment amount.
Find out more about sales charge
here