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Jimat dan Senang Kira – Rounding Up Bills

Come 1 April 2008 1 sen coins will soon be a rarity in Malaysia. (This is NOT an April Fool’s joke!)

The reason for this is that the Government is introducing a rounding mechanism for bills so that you no longer get odd total bills like RM589.99 but it will be rounded up to RM590.00.

Some points to note are:-

  • The rounding is on the Total Bill NOT individual products. So, if your toothpaste costs RM4.99 it will not be rounded up to RM5 unless thats the only thing you buy.
  • The rounding is on all cash and non cash (credit card) transactions
  • Receipts, Bills and Invoices must show the total amount before and after rounding so check your receipts!

Here is a table from the Bank Negara site showing how the rounding mechanism works:-

rounding

The rounding up of the total amount of a bill (including goods and services subject to tax) are rounded up or down to the nearest multiple of 5 sen

  • 1, 2, 6 and 7 sen to be rounded downwards
  • 3, 4, 8 and 9 sen to be rounded upwards

Most importantly, the 1 sen coin is still legal tender. So don’t listen to rumors that say that it is no longer legal tender or of no value.

March 27, 2008 | Filed Under Discussions, Tips 

comments

2 Responses to “Jimat dan Senang Kira – Rounding Up Bills”

  1. giddy tigress on March 27th, 2008

    Did you see how fake the ad for this on TV is? hehehe

    Giddy Tigress: YES! It makes me cringe every single time.

  2. StevenTan.org: myLife. myInterest. myStyle. » Blog Archive » Utility Bill on June 12th, 2008

    [...] http://www.all-aboutshopping.com/2008/03/27/jimat-dan-senang-kira-rounding-up-bills/ [...]

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