Analysis of SST
In an article published by a news portal last Friday (20 July), partner S Saravana Kumar and senior associate Jason Tan Jia Xin — both with the Tax, GST & Customs Practice at Lee Hishammuddin Allen & Gledhill — offer some insights as Malaysia prepares for the sales and services tax (SST), which will take over from the goods and services tax (GST) implemented in April 2015.
They highlight the differences between the GST and the SST, as well as the items that were previously taxable or exempted, and how this will change when the new tax mechanism is in force.
Given that the Bill for the implementation of the SST is likely to be tabled next month, and collection of the SST due to commence from 1 September 2018, businesses and companies may find themselves racing against time to adapt, register and implement the new tax structure.
Source: Malay Mail Online
25 July 2018