As of April 1st 2015, the Malaysian Government’s Goods Service Tax (GST) is effective and enforced. The GST rate is 6% of all transactions from large and medium businesses which can give an advantage to smaller businesses/entrepreneurs as they are exempt from this cost.
Our company has spent a lot of resources to update our accounting systems to be in compliance of this new ruling which in turn can help us serve our customers more efficiently.
Thankfully GST is not imposed on our exports so our customers from all over the world do not need to worry about this.
We hope this implementation can bring more revenue to the Government and in turn improve our country.
If you are interested to know more about GST you may visit our Malaysian government’s GST website by clicking here .