GST for Business

GST ( Goods and Services Tax) is a value added tax that is based on multilevel tax based on consumption. GST will be replacing the current Government Sales and Service Tax from 1st of April, 2015. There will be a huge impact on businesses in Malaysia when GST is introduced. What does GST means for…

GST First reading on Parliament

Punishment for GST Evasion : Fine from RM 50,000 to RM 500,000 or maximum 7 years jail sentences or both The first detail of GST implentation has been read at the Malaysian parliament today. The new GST will be imposed under Sales and Tax Act 1975 which will start effect on 1st , April 2015…

GST Bill Ready to be tabled

It seems the GST Bill is ready and will be tabled in Dewan Rakyat very soon. The soonest date of the tabling of GST implementation will be early April 2014 according to Deputy Finance Minister Datuk Ahmad Maslan. Currently the draft is being assessed by Chambers of Attorney General. During the 2013 Budget, Prime Minister…

GST Bill Passed in Parliament

The new proposed GST Bill has been passed in Dewan Rakyat with a total of 119 MPs voted in support and another 81 who are against the bill just after two days of intense debate. No modification by central comitee was seen on the bill when it was tabled for first reading in the Dewan…

What is GST ?

Goods & Services Tax (GST) April 1 2015, Malaysia will be imposing GST and since it’s a new concept for Malaysian business and consumers, there might be a slight confusion on the implementation. In order to properly implement GST, businesses have to convert the billing system, and restructure payment method in order to be transparent.…

Personal Loans in Malaysia

Given the huge amount of options that you in applying for personal loans in Malaysia, it might be easy for you to feel overwhelmed. Below is a list of some of the personal loans in Malaysia that you can consider applying for.   HSBC Amanah Personal Financing-i HSBC Amanah Personal Financing-i is a personal loan…

GST vs Sales Tax ?

There has been much confusion over GST ( Goods and Services Tax) which is proposed at 6% and the existing  GST ( Government Service Tax) at current 10%. Since the inauguration of GST, the perception is that GST will replace the existing Sales and Service Tax. Sales Tax Under the Sales Tax Act 1972, manufacturer…