Malaysia Sales and Services Tax update
Sales and Services Tax will be implemented on 1 September 2018, what's changed:
Since 1 June 2018 the current Goods and Services Tax (GST) has been zero-rated because it will be replaced by the previous Sales and Services Tax (SST).
On 16 July 2018, the Malaysian Finance Minister, Lim Guan Eng announced that the SST will be reintroduced on 1 September 2018, after the passing of the SST Bill. From that moment, the provision of services will be taxed at 6%, while the sale of goods will be taxed at 10%.
We are working to be ready for the change and effects it will have on your business. We can help you with the transition from the current GST to the SST system and ensure all processes and impacts are considered.