SST/ GST LATEST NEWS

Keeping you updated with the current changes

SST : Amended Policies And Issued New Guides in August and September 2020

Customs issued two new guides on 15 September 2020. (1) Service Tax Treatment on Disbursement and Reimbursement (2) Panduan Perkhidmatan Perundingan, Latihan dan Tunjuk Ajar (BM version) Customs amended the following service tax policies in August 2020 (Pindaan No.1) bagi Dasar Cukai Perkhidmatan Bil 1,3,4,5 & 8/2020 ...
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GST Guide on Declaration and Adjustment After 1st September 2018

On 18 August 2020, customs did issue a revised guide on GST declaration and adjustments. The area of concern are as follows:- (1) Registered person’s liabilities under the repeal GST Act (2) Bad debts relief claimed in GST era and subsequently recovered from customers (3) Adjustment for outstanding amount due ...
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2020 Economic Stimulus Package

SST highlight: To exempt the 6% service tax for hotels. However, this exemption will be made effective earlier, that is from March to August 2020. Service tax Regulation, First Schedule: Group A: Accommodation (Column 2 (b), provision of any other taxable service specified in other Groups in this Schedule) ...
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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 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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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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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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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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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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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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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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LIABILITIES OF ACCOUNTANTS OR PERSON-IN CHARGE OF GST

PETALING JAYA: The liabilities of Accountants or person-in charge of Goods & Services Tax (GST) preparation and submission is significant under Section 97 of GST Act 2014. This issue was brought up by GST consultant Derek Wong during the talk held at Hotel Cititel Midvalley April 2016. It was organised ...
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Mamak restaurant fined RM4,000 for RM1 nasi lemak price hike

SHAH ALAM: A mamak restaurant here was fined RM4,000 by the Sessions Court for raising the price of its nasi lemak by RM1. Restoran Silva’s Curry House in Subang Jaya raised its price for a normal plate of nasi lemak from RM2.50 in January to RM3.50 in June last year ...
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GST needed to reduce fiscal deficit, prevent recession

November 23, 2015 The government should educate people on the positive effects of GST on the economy, instead of just saying how good it is for the economy By Low Jin Wu Goods and Services Tax (GST) is perceived to be the most devilish of policies implemented by the government ...
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GST appeal tribunal awards tax exemption for small office-home office (Soho) project

PUTRAJAYA, Nov 17, 2015: In a landmark decision, the Customs GST Appeal Tribunal has awarded an exemption in Goods and Services Tax (GST) for a small office-home office (Soho) project in Pandan Perdana after the Customs Department classified it as residential, marking the first case involving a housing project before the tribunal ...
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Govt sees red over black economy, promises action

PUTRAJAYA: The Government will wage war against practitioners of “black economy” as it is threatening the survival of legitimate businesses as well as national revenue, says Deputy Finance Minister Datuk Johari Abdul Ghani. Black economy is a sector that tries all means to evade taxation and regulatory oversight, which gives ...
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Glitches aside, GST is up and running

PETALING JAYA: As expected, there were glitches and hiccups on the first day as the Goods and Services Tax (GST) structure kicked off. (more…) ...
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New tax system will ensure most of 84% who do not pay their dues do so

PETALING JAYA: About 84% of companies registered with the Com­­panies Commission of Malaysia (CCM) and salaried employees do not pay taxes under the current system. But this ends today. With the launch of the Goods and Services Tax (GST) system, the base of companies and individuals paying taxes will be ...
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中國報/迎戰消費稅, source chinapress

一個好的消費稅軟件,不僅能讓報稅變成小事一樁,也能減低人為疏失,儼然成為另類“把關人”,讓商家們能少操一份心,不用老是得分神擔心員工若報錯賬怎么辦。 Syntax科技總執行長張志新指出,消費稅在明年4月1日開跑后,商家們得在1個月內完成索回進項稅的工作,並在明年5月開始向關稅局呈報,但此前要先配備適用軟件,否則一切都只是空談。 “消費稅課稅編號總計達28個,除了得以商品種類歸類,還要為貨物設定銷項稅與進項稅。記得也要設好消費稅開跑日期,不然一旦完成軟件提升,馬上自動轉換成消費稅模式,這可是違法的。” (more…) ...
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消費稅註冊

(吉隆坡28日訊)消費稅註冊限期迫在眉睫,目前每日有接近1200間公司註冊,但大馬皇家關稅局希望每日註冊2000至3000間,並呼籲商家“先註冊、后了解”。  關稅局消費稅董事拿督蘇巴馬念說,截至昨日消費稅註冊達2萬625間公司。  “在過去數月,每日註冊量從500至700間,提高到目前的平均1200間,這是相當令人振奮的消息。但是這還不夠,我們希望可達到每日至少2000至3000間。” (more…) ...
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No time to waste for GST preparation

Royal Malaysian Customs director of GST Division Datuk Subromaniam Tholasy warned businesses to make sure that they act swiftly in preparing for the implementation of GST. “All the laws have been uploaded on the A-G’s website, which means it will be implemented on April 1, 2015,” he said. “Unlikely to ...
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Lower income tax rates likely with GST

KUALA LUMPUR (Sept 2, 2013): The implementation of the goods and services tax (GST) will benefit taxpayers as there is a possibility that the government will reduce income tax rates, said Inland Revenue Board (IRB) director-general Tan Sri Mohd Shukor Mahfar today. He said this is possible as the government ...
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Customs, IRB to conduct joint audits on companies

PUTRAJAYA:   The Inland Revenue Board (IRB) and the Customs Department will  pool their resources to tighten the auditing process. Both government agencies signed a memorandum of understanding (MoU) on joint  audit yesterday, where auditors from both departments will work together. (more…) ...
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GST Seminars by KAC

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With the GST, efficiency in tax collection should be the imperative

NST online, 30 August 2013 THE government is working towards revenue enhancement and one of the ways  proposed towards that end is the introduction of the long proposed Goods and  Services Tax (GST), much talked about for some years now, but yet to see  implementation. However, in this recent announcement, ...
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Economist: Govt could reduce dependence on O&G sector through GST

KUALA LUMPUR: The Government could reduce its dependency on the oil and gas (O&G) sector by raising additional revenue via the Goods and Services Tax (GST), said an economist. RAM Holdings Bhd group chief economist Dr Yeah Kim Leng said the GST would provide the Government with greater flexibility to ...
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GST more efficient than sales tax: economist

KUALA LUMPUR, July 10 (Bernama) –- The goods and services tax (GST) is more efficient and causes less economic distortions than the sales tax it will replace, said an economist. Malaysian Rating Corp Bhd (MARC) chief economist, Nor Zahidi Alias, said the structure of GST will provide a strong incentive ...
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