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Mon Oct 26 @10:00 - 05:30PM
Webinar: Latest Sales Tax Mechanism and Exemption Facilities Updates for Manufacturers and Traders
Tue Oct 27 @10:00 - 05:30PM
Webinar: Latest Sales Tax Mechanism and Exemption Facilities Updates for Manufacturers and Traders
Thu Nov 12 @10:00 - 04:00PM
Half-Day Webinar: Sales Tax Mechanism and Budget 2021 on Sales Tax

Questions and Answers from training

Questions and Answers from training on June 6, 2016 (PJ)

Thank you for your participation for the training held on June 6, 2016.

  1. Please take note that you can only raise disbursement if you met all conditions specified with DG Decision 5/2015 Item6 v2

The following is the question and answer summary for the training on June 6, 2016 (PJ).

  1. Local tax invoice in foreign currencies - Some accounting software has specific feature to record taxable amount and accounting value. Alternatively, you may need to use GST clearing accounts to record these transactions
  2. Software and License - Software is a service
  3. Billing to overseas entity for software - It shall qualify as reimbursement at zero rated as it is directly beneficial to a person outside Malaysia when the recovery service is performed
  4. Free of charge sample - If you send the sample out of Malaysia and subsequent return to Malaysia, it may subject to importation. You may apply for the relief with RMCD
  5. Ad-hoc services - It shall combine with primary MSIC
  6. Management Fee - If it is treated as single business source, then it shall use the primary MSIC
  7. Imported Services - Tax code to be used is Input Tax (TX) and Output Tax (DS)
  8. Registration for business which holds commercial properties - it follows the ordinary rule of registration based on taxable threshold. A business is different from individual as its initial intention is to carry a business.
  9. Incidental Exempt Financial Supplies - ES43 - Kindly assign for interest income and net gain for realized gain/loss in exchange. It shall not include any accruals and revaluation
  10. Selling books by organization which is not publisher - Selling books will qualify as zero rated supply despite you are not the publisher.

Please download the PDF document to read the Q&A in details.

Download this file (QA-June062016.pdf)Question and Answer - June 6 2016[Summary]215 kB

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GST System Changes