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GOODS & SERVICES TAX

Extract of Budget Speech 2010

Strengthening Management of Goverment Finance

"...........GST needs to be implimented to stabilize Goverment finance, it will not burden the rakyat. If Goverment impliments GST, it will replace the current sales tax and service tax as well as exemption will be granted to the low-income group"

YAB Dato' Sri Najib Tun Abdul Razak
Prime Minister of Malaysia
cum Minister of Finance Malaysia
23 October 2009

GST Model in Malaysia

  • GST is a broad-based consumption tax levied on the supply of goods and services in Malaysia .
  • Also known as VAT or the value added tax in many countries and GST will replace the existing sales tax and services tax.

Scope and Charge

  • GST is also charged on the importation of goods and services.
  • Proposed rate of GST in Malaysia is 6%.

Taxable Person

  • A taxable person is a person required to be registered under the GST who makes taxable supplies in Malaysia and whose annual turnover exceeds the prescribed threshold.

How We Can Help?

  • GST awareness,training and education
  • GST impact study on business operation
  • Advice on GST implementation
  • Advice on GST rulings
  • GST compliance
  • Refunds / remittance
  • GST strategies and planning
  • Record keeping and internal control review for GST
  • GST audit and investigation
  • Resolution of appeal
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