SST MAZARS Circular 2018 - 1/2
This newsletter serves to update you on the latest development on the proposed re-introduction of the previous sales tax and services tax regime, commonly known by the acronym “SST”.
A briefing was held at the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018 and the following proposals made by the RMCD for the consideration of the Minister of Finance were shared with representatives of the various trade associations and professional bodies.
A briefing was held at the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018 and the following proposals made by the RMCD for the consideration of the Minister of Finance were shared with representatives of the various trade associations and professional bodies.
A SNAP-SHOT OF WHAT TO EXPECT FROM THE SST MODEL
❖ Except for credit cards, a standardised threshold of turnover of RM500,000 over a 12-month period applies for all taxable persons who are manufacturers of taxable goods or who are providing taxable services
❖ Based on the existing goods and services tax (“GST”) database, the RMCD will send notification to taxable persons in the month of August 2018 to inform them of automatic registration.
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