What is GST and when is it effective in Malaysia? A multi-stage tax collected at all stages of production. A tax ultimately borne by the consumer. Overcomes cascading along the supply chain. A tax that creates churn, because of its multi-staged nature. Malaysia's new 6 per cent GST commences from Wednesday 1 April 2015, replacing the current sales and services taxes (SST).  Registrations are due by Wednesday 31 December 2014. So register your BUSINESS with the Malaysia Customs by 30 December 2014

1. Goods and Services Tax (GST)
Introduction to
GST Implementation
In Malaysia
Effective 1 April 2015
Organised by:
What is a GST?
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2. WHAT YOU NEED TO KNOW
which as not told to you…
Malaysia's new 6 per cent GST commences from
Wednesday 1 April 2015, replacing the current
sales and services taxes (SST).
Registrations are due by Wednesday 31 December
2014.
So register your BUSINESS with the Malaysia
Customs by 30 December 2014
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3. Highlights of GST
• A broad-based consumption tax or value added tax
• Imposed on the supply of taxable goods and services
• Transaction based, multi stage tax imposed at each stage of
business transaction (i.e. from production to distribution of
products and services)
• Collection and payment is on self-assessment basis –
monthly, quarterly, half yearly GST returns
• Collected through a credit system where GST incurred on
inputs is offset against GST charged on outputs
• Will replace the existing Sales Tax and Service Tax
• To cover all sectors of the economy with limited exemptions
and zero rating
• GST rate – 6%
• Final Tax on Consumption & not Investment
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4. You Want To Act now
GST will only come in effect on 1 April 2015. However, your business cannot
procrastinate and wait until last minute to act. Experience from other countries
who has implemented GST shoes that the range of tax, legal, cash flow, pricing,
systems and training issues that must be addressed in transitioning to a new
GST regime are usually both considerable and often time-consuming.
At such, your planning and early preparation is vital, as the introduction of a
GST is a whole-of-business change, and bear in mind that most taxpayers will
need to register by Wednesday 31 December 2014.
Today, the Malaysia government is expecting about 300,000 taxpayers to
register for the GST – and currently less than 80,00 have actually registered.
Penalties are applicable to late registration also.
Why risk your business and the directors to be penalised for late registration
when you can act now and attend iTrainingExpert’s quality GST course to get
ahead and start the GST implementation process?
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5. Who must register for GST?
A person is required to be registered for GST if he makes taxable
supplies where the annual taxable turnover exceeds RM500,000.
Taxable turnover means the total value of taxable supplies
excluding the amount of GST.
Excluding:
•capital assets disposed
•imported services
•disregarded supplies made in relation to the Warehousing Scheme
•disregarded supplies made within or between designated areas
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6. Is GST applicable to most goods
and services?
GST will be charged on:
Any taxable supply of goods and services, made in the
course or furtherance of any business, by a taxable
person in Malaysia
The importation of goods into Malaysia, except goods
prescribed as zero rated and exempt, and
All imported services acquired for the purpose of
business, except exempt supplies of services.
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7. What is a GST?
•A multi-stage tax collected at all stages of production.
•A tax ultimately borne by the consumer.
•Overcomes cascading along the supply chain.
•A tax that creates churn, because of its multi-staged nature.
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8. What should I do now?
Time to register is running out, so you need to act now.
Businesses need to be preparing for both registration
and the commencement date.
Some key issues to consider when preparing for the GST:
•CEO, CFO and all Department Heads and staff training
on GST with approved GST Tax consultant
•registration is now open via the Royal Malaysia Customs
Department website.
•pricing
•contracts spanning the implementation of the GST
•accounting systems
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9. More information and for reading
Royal Customs Malaysia
General Guidelines on GST
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10. Click here for Course Details and Availability
• Nothing beats attending a customised small
class GST workshop with iTrainingExpert’s
approved GST Tax Consultant and ask as many
questions as you want about the ins and outs
of GST implementation; get answers to
problems that you may encounter
Click here for Course Details and Availability
Limited seats available
http://www.itrainingexpert.com/course/51/GST-
-Goods-and-Services-Tax.html
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11. PUTTING IT ALL TOGETHER
Contact us for follow-up and any
other enquiries.
Enquiries/Feedback: info@itrainingexpert.com
T: +603 8075 9045
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