When Sst Malaysia Start

Dato sri abdul latif bin abdul kadir director general of customs royal malaysian customs royal malaysian customs department tribunal rayuan kastam trk malaysian. The sst system is replacing the previous goods and services tax gst which was implemented at a 6 rate in malaysia. While labuan is one of the federal territory in malaysia it is the only mid shore jurisdiction in malaysia and the world.

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He states that services will be taxed at 6 while sales of goods will have a 10 tax.

When sst malaysia start. Finance minister lim guan eng spoke at the launch of the national tax conference 2018 to announce the launch of sst which is expected to start from september 1 malay mail reported. The ministry of finance mof announced that sales and service tax sst which administered by the royal malaysian customs department rmcd will come into effect in malaysia on 1 september 2018. Find out more about tmf labuan and our services.

In this regard bursa malaysia berhad and some of its subsidiaries have been registered for service tax purposes and will start charging 6 service tax on certain fees effective from 1 may 2019. Here are the details on how the sst works the registration process returns and payment of the sst and the transitional measures to take after the abolishment of the gst. 3e accounting your one stop shop for sst services this page is all about sales and services tax sst service in malaysia and package fee.

The new sales and services tax sst will come into effect on september 1 this year after the goods and services tax gst goes zero rated on june 1. The government of malaysia tabled for first reading the bill to repeal gst in parliament on 31 july 2018 dewan rakyat. Sst will be reintroduced in september 2018 and the business community can contribute their concerns and suggestions to the government.

Prime minister tun dr mahathir mohamad said the price of goods should go down by at least six per cent once the zero rated gst system kicks in. It is a designated area and are exempted from malaysia s gst. This website is developed to enable the public to access information related to the royal malaysian customs department includes corporate information organization and customs related matters such as sales and service tax sst.

It was reduced to 0 on 1 june 2018. Beginning from 1 september 2018 the sales and service tax malaysia also known as sst malaysia administered by the royal malaysian customs department rmcd will come into effect. Sst effective 1 september 2018 the malaysian government has replaced the goods and services tax gst with sales and service tax sst.

Thus the changes in malaysia s gst and sst will not impact labuan nor applicable to labuan companies. The move of scrapping the 6 gst has paved the way for the re introduction of sst 2 0 which will come into effect in 1 september 2018. From 1 september 2018 the sales and services tax sst will replace the goods and services tax gst in malaysia.

Gst was replaced with the sales tax and service tax starting 1 september 2018.