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What is GST Malaysia

WHY JOIN GST SEMINAR BY ITRAININGEXPERT.COM This is a TWO day GST- Comprehensive Course that Every Business Needs to Know What Exactly To Do to Get Ready and Implement GST in your company. After many discussion with the Customs, accountants and GST Tax Consultants, we've come up with a comprehensive 2 days GST comprehensive workshop that highlights to businesses (like yourself),what to need to know and do to implement the GST module in your business. From the Basics of GST (half day), impact to your goods and services, implication to your Business Units, Impact to your Profit and Cashflow, real examples of how to do prepare your accounting and how to file tax returns because of bad debts, these wil all be covered extensively and comprehensively in this course. GST has an immense impact on your business and you and your staff deserve to understand and know the GST subject in details. Save your time and improve your efficiency in attending good, easy to understand, approachable and professional training providers in Malaysia. ITRAININGEXPERT has been in the training and development industry for 15 years and we are here to stay for many years to come because we are passionate about training and human capital development. *Checkout for more course information, latest dates and training venues on http://itrainingexpert.com/course/51/GST--Goods-and-Services-Tax.html

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What is GST Malaysia

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  1. Goods and Services Tax (GST) What is a GST? Introduction to GST Implementation In Malaysia Effective 1 April 2015 Organised by: iTrainingExpert.com www.iTrainingExpert.com

  2. WHAT YOU NEED TO KNOWwhich as not told to you… Malaysia's new 6 per cent GST commences from Wednesday 1 April 2015, replacing the current sales and services taxes (SST). Registrations are due by Wednesday 31 December 2014. So register your BUSINESS with the Malaysia Customs by 30 December 2014 www.iTrainingExpert.com

  3. Highlights of GST • A broad-based consumption tax or value added tax • Imposed on the supply of taxable goods and services • Transaction based, multi stage tax imposed at each stage of business transaction (i.e. from production to distribution of products and services) • Collection and payment is on self-assessment basis – monthly, quarterly, half yearly GST returns • Collected through a credit system where GST incurred on inputs is offset against GST charged on outputs • Will replace the existing Sales Tax and Service Tax • To cover all sectors of the economy with limited exemptions and zero rating • GST rate – 6% • Final Tax on Consumption & not Investment www.iTrainingExpert.com

  4. You Want To Act now GST will only come in effect on 1 April 2015. However, your business cannot procrastinate and wait until last minute to act. Experience from other countries who has implemented GST shoes that the range of tax, legal, cash flow, pricing, systems and training issues that must be addressed in transitioning to a new GST regime are usually both considerable and often time-consuming. At such, your planning and early preparation is vital, as the introduction of a GST is a whole-of-business change, and bear in mind that most taxpayers will need to register by Wednesday 31 December 2014. Today, the Malaysia government is expecting about 300,000 taxpayers to register for the GST – and currently less than 80,00 have actually registered. Penalties are applicable to late registration also. Why risk your business and the directors to be penalised for late registration when you can act now and attend iTrainingExpert’s quality GST course to get ahead and start the GST implementation process? www.iTrainingExpert.com

  5. Who must register for GST? A person is required to be registered for GST if he makes taxable supplies where the annual taxable turnover exceeds RM500,000.Taxable turnover means the total value of taxable supplies excluding the amount of GST.Excluding: capital assets disposed imported services disregarded supplies made in relation to the Warehousing Scheme disregarded supplies made within or between designated areas www.iTrainingExpert.com

  6. Is GST applicable to most goods and services? GST will be charged on: Any taxable supply of goods and services, made in the course or furtherance of any business, by a taxable person in Malaysia The importation of goods into Malaysia, except goods prescribed as zero rated and exempt, and All imported services acquired for the purpose of business, except exempt supplies of services. www.iTrainingExpert.com

  7. What is a GST? A multi-stage tax collected at all stages of production. A tax ultimately borne by the consumer. Overcomes cascading along the supply chain. A tax that creates churn, because of its multi-staged nature. www.iTrainingExpert.com

  8. What should I do now? Time to register is running out, so you need to act now. Businesses need to be preparing for both registration and the commencement date. Some key issues to consider when preparing for the GST: CEO, CFO and all Department Heads and staff training on GST with approved GST Tax consultant registration is now open via the Royal Malaysia Customs Department website. pricing contracts spanning the implementation of the GST accounting systems www.iTrainingExpert.com

  9. More information and for reading Royal Customs Malaysia General Guidelines on GST www.iTrainingExpert.com

  10. Click here for Course Details and Availability • Nothing beats attending a customised small class GST workshop with iTrainingExpert’s approved GST Tax Consultant and ask as many questions as you want about the ins and outs of GST implementation; get answers to problems that you may encounter Click here for Course Details and Availability Limited seats available http://www.itrainingexpert.com/course/51/GST--Goods-and-Services-Tax.html www.iTrainingExpert.com

  11. PUTTING IT ALL TOGETHER Contact us for follow-up and any other enquiries. Enquiries/Feedback: info@itrainingexpert.com T: +603 8075 9045 iTrainingExpert Global PLT www.iTrainingExpert.com

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