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Amendments to DG’s Decision 1/2018 & 3/2018 by the Royal Malaysian Customs Department The Royal Malaysian Customs Department has made amendments to the DG’s Decision for 1/2018 and 3/2018. The amendments affect the areas of tax invoice issuance, and submission of the goods and services tax return. Amendments to the Issuance of Tax Invoice…
Malaysia’s Inland Revenue Board Launches Special Program for Voluntary Disclosure On 3 November 2018, the Inland Revenue Board of Malaysia (IRBM) issued its Operational Guidelines No. 1/2018. This guideline outlines the implementation procedures of the Special Program for Voluntary Disclosure (Special Program), which is eligible for taxpayers. Malaysia’s Tax Reform Committee is part of the…
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…