Countdown to GST 2015 Implementation in Malaysia

The start date to GST era beginning from 1 April 2015 in Malaysia is near as we approach the new year 2015 in the coming days. The GST rate is fixed at 6 percent for taxable goods and services supplied in and imported into Malaysia. Yes, imported services is also chargeable unlike in Singapore where it remained suspended.

As Malaysian businesses realised there is no turning back this time around, many exempt supply industries are lobbying hard to the government for their supplies to be zero rated. This is because if they will be not eligible to claim GST input tax on their purchases unlike their standard rated and zero rated counterparts. In turn, their cost will increase and they will need to bear such cost if they are unable to pass it on to the consumers. The affected industries are healthcare and housing.

We are keeping a close watch on this developments in Malaysia so we can advise our clients who have business interest across the Causeway. Please contact us if you need our assistance.

Share:

More Posts