MADURAI: The cost of living in Chennai city is very high and more than double compared to Malaysia’s capital city Kuala Lumpur because the prices of several essential things is costly in India compared to Malaysia, Mr.Saravana Kumar Kumaravasagam, Consul General of Malaysian Consulate in Chennai, has said here yesterday.
“Definitely Chennai life is costlier than Malaysia. With just a couple of thousands of Malaysian currency Ringgits, people are leading a good living in Kuala Lumpur. But, here in Chennai, it is costly and the price of petrol is just one example,” he observed while addressing a meeting organized by the Tamil Nadu Chamber of Commerce and Industry in Madurai on February 16th 2024.
He said this in the context of how people are able to make savings in Malaysia due to low cost of living, good earnings and good scope for trade and business.
GST LIKELY IN MALAYSIA SOON:
The Consul General who spoke on ‘Doing Business in Malaysia’ has also informed that GST is one of the things likely to come in Malaysia. “Here in India, you have the GST. In Malaysia, it is likely to happen because the IMF is pushing for it,” he said. Presently, there is 10 per cent sales tax, 6 per cent service tax and 24 per cent corporate tax in Malaysia.
