(Penang) Indirect Tax Academy: The Return of SST Seminar
9 August 2018
The much anticipated Sales Tax and Service Tax (“SST”) framework has finally been revealed on 19 July 2018 by the Royal Malaysian Customs Department (“RMCD”). The announcement was made to provide businesses a head start in their preparation for the re-introduction of the taxes. It is expected that the Sales Tax 2018 and Service Tax 2018 Bills would be passed in Parliament by August 2018, and come into force on 1 September 2018.
As it is vital to ensure a smooth transition from GST to SST and to integrate the taxes operationally, our Indirect Tax team conducted a seminar where our tax experts shared insights on the changes and preparation of SST readiness plans whilst addressing potential challenges.
Click here to view photos of the seminar held in Penang.
SST Update Seminar: Release of the Bills and possible impacts
14 August 2018
The much anticipated Sales Tax and Service Tax (“SST”) bills were introduced before the Malaysian House of Representatives or “Dewan Rakyat” for its first reading before the Parliament on 1 August 2018. The recent issuance of SST registration letters by the Royal Malaysian Customs Department (RMCD) appears to be the precursor to the implementation of the SST.
In the interim, businesses will need to fully understand how the SST will impact them financially and operationally and in light of the above, our Indirect Tax Academy conducted a seminar on Tuesday, 14 August 2018 at the Sime Darby Convention Centre to provide clients with an understanding of the framework of the SST including the scope, exemption facilities and compliance as well as reporting obligations. Our indirect tax experts also provided key insights on issues faced when transitioning from GST to SST and shared their views on how to identify business processes impacted by the SST based on the SST bills.
Click here to view photos of the seminar held in Kuala Lumpur.