This Regulations does not set the profit that can be gained by the sellers on goods sold or services offered. The costs to be taken into account are the price paid for the acquisition or production of the goods or services, and costs incurred in selling the goods or services that are considered in determining the selling price of the goods or charge of the services. Business expenses cannot be deemed as costs. The calculation is as per example illustrated below:. The business Financial Year is 1st January and ends on 31st December each year, and the business has operated since What is the role of the Ministry in handling the issue of rising prices of goods and services in line with the implementation of Sales and Services Tax SST?
What are the enforcement measures taken by the Ministry upon the implementation of SST? What is the meaning of profiteering sellers?
Profiteering sellers refer to any sellers who are taking excessive profits on goods or services. What are the regulations enforced by the Ministry to manage the profiteering sellers? Do these Regulations have expiration date? These Regulations are enforced all the time and do not have expiration date. Do these Regulations bring benefits to the consumers in handling the issue of prices of goods?
What are the factors that cause the rising prices of goods? Is rising price an offence that can be taken into action at the Ministry level? Are the sellers considered as profiteering if the selling price for the same goods can be sold at different prices in different premises?
What are the actions that can be taken by the Ministry if there is an increase in prices of goods or charges of services? What is the purpose of the notice being issued to the sellers? What are the penalties imposed to the sellers who are doing profiteering offence? However, the Ministry has the basis through mechanism in this Regulations in ensuring that the profit set or gained by the sellers for such goods is reasonable based on the previous company information data.
The Ministry started the enforcement and exercise of the Regulations for 2 categories of goods which are foods and beverages as well as household goods. The household goods comprise of non-durable goods including personal-care products. Priority is given to these goods as it gives direct impact on the household expenses and the cost of living of the people.
However, the Ministry will expand the enforcement of this Regulations into other goods and services according to the need and suitability. This Regulations is enforced upon all levels of business for goods that are included in the scope of regulation exercise.
Power of Minister to make regulations Public Authorities Protection Act The Public Authorities Protection Act [Act ] shall apply to any action, suit, prosecution or proceedings against the Controller, Deputy Controller, Assistant Controller or against the Chairman, any member of the Council and employees or agents of the Controller or the Council in respect of any act, neglect or default done or committed by him in good faith or any omission omitted by him in good faith, in such capacity.
Protection of officers and other persons No action or prosecution shall be brought, instituted or maintained in any court against a the Controller, Deputy Controller, Assistant Controller or any other person in respect of any act ordered or done for the purpose of carrying into effect this Act; and b any other person in respect of any act done or purported to be done by him under the order, direction or instruction of the Controller or an authorized officer if the act was done in good faith and in a reasonable belief that it was necessary for the purpose intended to be served by it.
Saving and transitional Price Control and Anti-Profiteering 3 All regulations, Act, shall continue to had been made under regulations, rules and. Open navigation menu. Close suggestions Search Search. User Settings.
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Drury Reinhardt Baskerville v. United States, F. United States v. Marvin Percival Johnson, Kathleen M. Johnson, F. Jose Valdes, Lino Lopez, F. Jump to Page. Search inside document. Short title and commencement 2. Interpretation 3. Power of the Controller to determine prices of goods 5. Power of the Controller to determine charges for services 6. Power of the Controller to determine prices or charges according to area 7. Power of the Controller to determine the amount of deposit 8.
Prices determined to include tax 9. Seller to display list of prices Price Control and Anti-Profiteering 11 Power of the Controller to determine prices or charges according to area 6.
Price Control and Anti-Profiteering 13 2 In any proceedings for an offence under subsection 1 , it shall be a defence for the person charged to prove that he had no knowledge and acted in good faith in purchasing or offering to purchase any price-controlled goods or obtaining or offering to obtain any charge-controlled services at prices or charges otherwise than in accordance with the prices or charges determined by the Controller.
Chapter 3 Powers of Search and Seizure Access to places or premises Price Control and Anti-Profiteering 21 2 The Assistant Controller in accessing the places or premises under subsection 1 may bring with him any authorized officer as he thinks necessary for the due administration of this Act. Price Control and Anti-Profiteering 23 3 The Assistant Controller may make copies or take extracts of the recorded information, computerized or digitalized data if he deems it necessary.
Price Control and Anti-Profiteering 25 2 An order for the forfeiture or for the release of any goods seized in exercise of any power conferred under this Act shall be made by the court before which the prosecution with regard thereto has been held and an order for the forfeiture of the goods shall be made if it is proved to the satisfaction of the court that an offence under this Act has been committed and that the goods were the subject matter of or were used in the commission of the offence notwithstanding that no person may have been convicted of such offence.
Price Control and Anti-Profiteering 27 Obstruction Price Control and Anti-Profiteering 29 Vacation of office Price Control and Anti-Profiteering 31 Validity of acts and proceedings Price Control and Anti-Profiteering 33 Offences by body corporate Price Control and Anti-Profiteering 3 All regulations, Act, shall continue to had been made under regulations, rules and 35 rules and orders made under the repealed be in operation and have effect as if they this Act until replaced or revoked by any orders made under this Act.
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