SST/ GST LATEST NEWS

Keeping you updated with the current changes

SST reprieve for businesses in Budget 2019

Effective Jan 1, 2019, however, the government will grant services tax exemptions in certain B2B relationships, with a view of curbing cost increases resulting from compounded taxation. The Edge dated 5 November 2018 ...
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/ SST

SST Credit System Budget 2019

“The [sales tax] credit system could potentially be an efficient facility as it would allow small manufacturers to source their manufacturing inputs from local importers or traders, rather than importing directly. This would streamline the sales tax treatment of imported and locally sourced materials,” Yeoh tells Enterprise. “Any sales tax embedded into ...
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/ SST

Service tax to be levied on digital services: Budget 2019

KUALA LUMPUR: The Malaysian Finance Ministry (MOF) has announced the implementation of service tax on foreign digital services – including software, music, video and digital advertising – effective Jan 1, 2020. In Finance Minister Lim Guan Eng’s presentation, several company logos were shown including music streaming service Spotify, video streaming site ...
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/ SST, Uncategorized

Guan Eng: GST refund next year

KUALA LUMPUR: The Pakatan Harapan government is committed to returning the Goods and Services Tax (GST) refunds that were improperly or even “illegally” withheld by the previous government, beginning next year, said Finance Minister Lim GuanEng today. He said the commitment was being made despite the huge amount of refunds ...
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/ GST

SST will not lead to significant price changes

KUALA LUMPUR: The implementation of the Sales and Service Tax (SST), beginning Saturday, will not cause hardship to consumers as there will be no significant price hikes. This is because the six per cent service tax and 10 per cent sales tax will only be imposed on certain products and ...
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/ SST, Uncategorized

New Guide on Accounting Software @ 5 February 2018

RMCD has posted an updated Guide on Accounting Software. Some major changes in the guide include but not limited to “revised tax codes” and “new requirements for item 15 in the GST 03 form”. You can download from here ...
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Two Months Taxable Period

Please be informed that registrants may now request to the Director General for a two months taxable period (Bi-Monthly)  subject to the following conditions: Applicable only for registrants with a monthly taxable period Registrants under cash basis industries such as retailing are not allowed to apply All applications will be ...
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Remission of GST Penalty on Late Payment

The Royal Malaysian Customs Department (RMCD) has made an announcement that GST registrants who have been imposed with late payment penalty may appeal to the Director General (DG) of Customs pursuant to Section 62(2) of GSTA 2014. GST registrants who wish to make an application for remission of penalty should ...
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/ Uncategorized

Watch out’, plainclothes customs officers tell GST evaders

PETALING JAYA: Irked by goods and services tax (GST) collections that “do not make sense”, the Royal Malaysian Customs Department is sending out enforcement officers posing as customers to nab traders who evade paying the true amount of the tax. The department’s director-general, T Subromaniam, was quoted in Sin Chew ...
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Reinventing customs

AN officer and a gentleman. That’s the first thing that strikes you about Customs director-general Datuk Subromaniam Tholasy. Soft-spoken, well-read and down to earth. Read more at http://www.thestar.com.my/news/nation/2017/04/23/reinventing-customs/#qmw02BtOIIUG6z0j.99 or https://www.facebook.com/kacadvisory/ ...
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/ Uncategorized

Customs to keep close eye on cash registers

ALOR SETAR: Businesses will not be able to avoid paying the Goods and Services Tax (GST) after a mechanism is introduced to link cash registers to the Customs Department’s system. Its deputy director-general (GST) Datuk Zulkifli Yahya said the mechanism, which will have a dongle attached to the cash registers, ...
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/ Business, GST, GST fraud

Over 5,000 traders facing GST probe

Offences include fraud and failure to pay PETALING JAYA: The Customs Department has a policy of friendliness, but that does not mean it will close an eye on errant traders. At least 5,000 nationwide face possible action for offences related to the Goods and Services Tax (GST), fraud and non-submission ...
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GST: Customs to collect extra 10-13% in revenue

MALACCA: The Customs and Excise Department is targeting to increase the goods and services tax (GST) collection by 10-13% next year, as compared to RM38 billion this year, says director-general Khazali Ahmad. He said Customs would focus on the issue of GST delivery statement compliance as one of the measures ...
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/ Business, GST, GST fraud

The hard truth about GST

FOR goods and services tax (GST)registered businesses who have monthly filing obligations, they would have filed their August 2016 GST return last month and this would have been their 17th GST return since Malaysia introduced this consumption tax on 1 April 2015. After 17 returns, what is the state of ...
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Guilty plea to GST charges

Telco shop owner asks for two weeks to pay fines IPOH: A telecommunications retail shop owner, who pleaded guilty to eight counts of not submitting the Goods and Services Tax (GST) statements, has appealed to the Sessions Court here to give him two weeks to arrange to pay his fines ...
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/ Business, GST, GST offence & penalty

Two deny fake GST claims of RM945,123

Fraud case said to be country’s first IPOH: In what is said to be the first such case in the country, two men have claimed trial to 12 counts of making fraudulent claims on the Goods and Services Tax (GST) totalling RM945,123. Businessmen Mok Siew Khuen and Ahmad Zawawi Abdul ...
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Petrol station owner fined RM72,000 for not filing GST forms

KUALA LUMPUR: A petrol station owner was today fined RM72,000 by the Sessions Court on nine charges of failing to submit the Goods and Services Tax (GST) return forms for her business last year. Nur Izzati Beatrice Haekal Ngauh, 42, pleaded guilty to committing the offence of failing to submit ...
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Petrol station owner fined RM25,000 for failure to submit GST statement

SHAH ALAM: A petrol station owner was fined RM25,000 by the Sessions Court here today for failure to submit the Goods and Services Tax (GST) statements to the Customs Department. Judge Ahmad Azhari Abdul Hamid also ordered Rosemani Mohd Saludin, 59, to be imprisoned for five month if she failed ...
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No GST hike for 2017, minister says

KUALA LUMPUR, Aug 9 ― There will be no hike in the Goods and Services Tax (GST) rate for 2017, Finance Minister II Datuk Johari Abdul Ghani assured today. “Rest assured, there will be no increase in GST for 2017,” he told reporters after launching the National Tax Conference here ...
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/ Accounting, Business, Business, GST, GST, Tax

GST STAFF EXIT AUDIT

KELANA JAYA: What is the Goods & Services Tax (GST) impact when company has a change of Accountants or person-in charge of Goods & Services Tax (GST). KAC Advisory Services Sdn Bhd’s director cum GST consultant, Derek Wong explained that GST records and documentation may be lost when the person ...
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