UNDERSTANDING MALAYSIA SALES AND SERVICES TAX (SST)

INTRODUCTION FOR UNDERSTAND MALAYSIA SALES AND SERVICES TAX (SST)

The Malaysian Sales and Service Tax (SST) have been implemented on the 1st September 2018 replacing the Goods and Service Tax (GST). Are you still having issues that you would like to seek clarification?  Want to better understand about the Malaysian Sales Tax and Service Tax? Do you want to know the latest update about the Malaysian Sales and Service Tax? Recently, the SST has increase to 8% from 6% effective 1 March 2024.getting ready for the final GST audit.

Who should attend: Accounting Professionals, Managers, Senior & Junior Executives who had to execute SST filing.

COURSE OBJECTIVES

On completion of the programme, participants will be able to:-

1. 1.  Preparing for GST audit
   2. Understanding the concept and scope of Malaysian Sales and Service Tax (SST)
   3. Understand the different between GST and SST and the impact on your business
   4. Understanding the SST implementation mechanism
   5. Aware and understand the various Exemption, Benefits and Facilities available in SST
   6. Aware of SST taxable period and returns submission deadline
   7. How to claim Sales Tax credit
   8. How to get exemption of Service Tax
   9. Getting an update of the latest development on SST
   10. Understanding the Price Control and Anti Profiteering Act

COURSE CONTENT

The key content of the program include the following :

INTRODUCTION

• Taxation in Malaysia
• How Acts (Laws) are created in Malaysia
• Why GST
• Why SST
• Transition from GST 6% to 0% and then to SST

GOODS AND SERVICES TAX (GST) ERA

• Tax rate 6% to 0%
• GST Audit
• GAF analysis
• SST 2.0

What is SST

• How is SST work
• Threshold and Rate

SALES TAX

• Sale Tax Act 2018 and its related rules and regulations
• Sales Tax mechanism
• Test for Sales Tax
• Definition of Manufacturing and taxable person
• Registration
• Invoicing
• Submission of return, payment and late payment penalty
• Sales Tax (Rate of Tax) Order 2022
• Treatment for Designated Areas and Special Areas
• Facilities available in Sales Tax Act
• Tax Credit System
• Sales Tax Policy
• Low Value Goods

SERVICE TAX

• Service Tax mechanism
• Tax Rate and Taxable Services
• Registration
• Invoicing
• Submission of return, payment and late payment penalty
• Facilities under Service Tax
• Treatment for Designated Areas and Special Areas
• Grouping of Services – Service Tax Regulations
• Exemption of Service Tax
• Digital Service Tax
• Group Relief
• Service Tax Policy
• New addition of Taxable Services
• Changes of Tax rate from 6% to 8%

PRICE CONTROL AND ANTI PROFITEERING ACT

• Understanding the Act

MISCELLANEOUS

• Assessment Dispute
• Draw back, Refund and Remission
• Public Ruling
• Latest development of the SST