Unlike the existing sales tax and service tax, Goods and Services Tax (GST) is generally charged on the consumption of goods and services at every stage of the supply chain.
The multiple tax levels feature of GST is the fundamental change from the present single-stage sales tax and service tax levied at only one stage of the supply chain. Read more here.
The following video addresses some common questions on GST, including its perceived price effects on the lower income group.
Although the operation of GST seems fundamentally straightforward, there is a whole host of issues that must be considered by businesses in developing an optimal implementation strategy.
PwC offers flexibility of choice to suit your varied needs:
It is crucial to develop a structured and strategic approach to set the blueprint right the first time.
Organisations need to consider these priorities:
Businesses such as multinationals may already have access to GST/VAT internal expertise from their global network of offices to develop the GST implementation strategy for their Malaysian operations.
In these circumstances, a checkpoint-advice approach may be ideal. A prior review of your relevant GST project documents will be conducted. Advice and guidance will be provided at regular stages or ‘checkpoints’ in your organisation’s GST implementation programme.