Table of contents
- Is the removal of GST in Malaysia considered GST abolished?
- Are you still required to submit GST-03 form?
- Do you change any tax code?
- What should you do if your GST period is crossed over, e.g. April-June 2018?
- Can you still claim April and May GST rebate?
- If your turnover is more than RM500k, do you need to register for GST?
- Do you need to change/upgrade your software?
but was subsequently replaced with the Sales & Service Tax in September 2018.
Wednesday 16th May 2018
The Goods and Services Tax (GST) will be zero-rated for all items and services in Malaysia from June 1 2018, the Finance Ministry announced today
The ministry said the GST will no longer be imposed at a rate of 6 per cent from then on, adding that this will be subject to further notice.
Accordingly, all registered merchants must comply with the imposition of the zero rate.
At the same time, registered traders are still subject to all current regulations set forth in respect of the issuance of tax invoices, tax returns within the prescribed periods of charge and input tax credit claims.
“Traders also need to ensure the price of goods and services that are set to comply with the Price Control and Anti-Profiteering Act 2011 at all times,” the statement said.
Is the removal of GST in Malaysia considered GST abolished?
Are you still required to submit GST-03 form?
Yes. GST-03 form will still be required monthly or quarterly, according to your submission period.
The Royal Malaysian Customs Department FAQ states that Sales of goods/services at 0% from 1st June, 2018 onward is to be declared in column 10 in GST-03 form.
Do you change any tax code?
What should you do if your GST period is crossed over, e.g. April-June 2018?
You should change all GST tax codes from 6% to 0% on 1st June, 2018 onward.
Here are some scenarios of the taxable period that may run over: