The Ministry of Finance issued a press release dated 9 June 2025 announcing that the scope expansion of sales tax and service tax ("SST") as announced in the Budget 2025 speech shall take effect on 1 July 2025. A new taxable category (Group H) has been introduced, imposing an 8% service tax on financial services. In this regards China Construction Bank Corporation Labuan Branch will impose 8% service tax on the relevant taxable services with effect from 1 July 2025.