GST Updates
GST has been implemented in Malaysia since 2015. There have been many policy and administrative changes to fine tune the implementation process.
But first, a little bit on GST
GST shall be levied and charged on the taxable supply of goods and services made in the course or furtherance of business in Malaysia by a taxable person. GST is also charged on the importation of goods and services. A taxable supply is a supply which is standard rated or zero rated. Exempt and out of scope supplies are not taxable supplies. GST is to be levied and charged on the value of the supply. GST can only be levied and charged if the business is registered under GST. A business is not liable to be registered if its annual turnover of taxable supplies does not reach the prescribed threshold. Therefore, such businesses cannot charge and collect GST on the supply of goods and services made to their customers. Nevertheless, businesses can apply to be registered voluntarily. We need to pay tax so that the government can operate. GST is one method of collecting taxes which works better than others.
(from http://gst.customs.gov.my _ Official Website Malaysia Goods & Services Tax (GST))
Join us for the upcoming seminar with Ms Fynn Lim, G&A Assistant General, to get a comprehensive understanding of the recent changes to GST rules and other updates.
Admission Fee - Member: FREE; Non-member: RM50
Register here: http://www.gahive.com/gstseminar/