Duty-Free Islands Will Still Be Taxed Under SST in Malaysia Malaysia has some duty-free islands where the foreign visitors can indulge in tax-free shopping. However, the SST in Malaysia kick starts on September 1 and is expected to affect specific items based on the orders of the country’s finance minister. Lim Guan Eng, the Finance…
Service Sector Remain 6% from GST into SST in Malaysia However, room tariffs may not increase after the new policy is deployed from September 1, 2018. As far as the service sector is concerned, the deployment of SST (Sales and Services Tax) starting from September 1, 2018, may not result in much of a price…
SST Malaysia to Impose 5-10% Tax on Goods and 6% on Services Saturday, September 1 will be a landmark day for Malaysia as a new tax policy comes into effect. Under the latest tax policy SST Malaysia, a tax will be imposed on the range of 5-10 percent on the sale of goods. Plus, a…
Transitioning from GST to SST in Malaysia Tax Changes are Coming to Malaysia There’s going to be a change of tax in Malaysia come 1 st September 2018. The new tax which is going to be introduced is known as the Sales and Services Tax (SST), and the SST is set to replace the…
Breaking Down the SST in Malaysia Following the recent announcement of the re-introduction of the sales and service tax (“SST”) in the market, many people started to revisit how the SST tax regime and what’s the impacts of it? According to the Finance Minister of Malaysia, Lim Guan Eng, SST will make a comeback with…
Customs Department Says Essential Items Will Not Be Taxed SST Certain Consumer Goods Will Not Subjected to the Upcoming SST Vegetables. Poultry. Fresh milk. Various types of sugar. These are just some of the consumer good items on a long list prepared by the Customs Department that is proposed to be exempted from Sales…
SST Takes Effect in Malaysia on Sept 1 The new Sales and Service Tax (SST) will come into effect in Malaysian on September 1 this year, after the Goods and Services Tax (GST) was zero-rated on June 1. Following this, the price of goods dropped by at least six per cent once the zero-rated GST system kicked…
Manufacturers in Malaysia Are Urging Putrajaya to Reinstate GST and Prioritise Economic Recovery Given the weak domestic and external environments caused by Covid-19, priority should be given to strengthening the economy and restoring more favourable business conditions. This is according to the Federation of Malaysian Manufacturers (FMM). This situation is concerning because the debt servicing…
Notice Regarding GST Price Displays 30 May 2018 – The Royal Malaysian Customs Department (RMCD) is issued a notice regarding the change in GST rate. This notice provides customers with the guidelines about the price tag changes which began on the 1st of June 2018 when the GST rate was zeroed out. Key highlights…
GOODS AND SERVICES TAX (GST) AUDIT FRAMEWORK Need more insight information? Feel free to contact 3E Accounting for us to assist in getting yourself prepared and ready for the GST audit. Prevention is always better than rectification. Get the right GST agent like 3E Accounting and you will not need to worry about the GST…