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

Bahrain-Large business registration deadline

Businesses with a certain taxable turnover in Bahrain must register for VAT by 20 December 2018.

Read more
New details on rules for e-commerce presented by European Commission

The EC today announced detailed measures that are intended to ease the transition to new VAT rules for e-commerce that come into force in January 2021. The rules announced today (11 December, 2018), lay out the steps needed to 1) ensure that online marketplaces take responsibility and 2) ease the administrative burdens for e-commerce businesses

Read more
UK-A brief guide to Making Tax Digital

From April 2019, UK VAT registered business over the mandatory threshold of £85,000 will be required to meet new digital requirements for their UK VAT filing

Read more