VAT News

Malaysia-Sales and Service Tax to be introduced

Following the effective abolition of GST in Malaysia earlier in 2018, the Malaysian authorities have announced the introduction of a sales and service tax which will be effective from 1 September 2018.

The tax will apply to taxable supplies of goods and imports, as well as numerous services. Tax rates for goods will be 5%, 10% or a product specific rate, with tax rates for services being 6%, with a special rate for certain credit card transactions.

The threshold for applying the tax will be RMB 500,000.

Related articles

UK Brexit-MOSS Rules

Businesses currently using the MOSS system in the UK must be aware of changes following Brexit

Read more
UK Brexit-Urgent action for 2018 claims

UK businesses wishing to claim EU VAT incurred in 2018 must act now

Read more
UK-Import VAT deferral

The statutory instrument enabling businesses to defer UK import VAT has recently been issued

Read more