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The indirect tax landscape in Malaysia is evolving at a fast pace. Since the repeal of the Goods and Services Tax (GST) and the implementation of Sales and Service Tax (SST), indirect tax risk has never been higher. Service tax is levied on prescribed taxable services, while many goods are exempt from sales tax. As a result, the onus is on businesses to correctly classify goods or services to determine if SST is applicable. Incorrect classification could result in the short payment of tax or even the failure to register with the Royal Malaysian Customs Department, for which back taxes and penalties may be collected.
Both sales tax and service tax are final taxes with no credit mechanism. While exemptions do exist, SST is predominantly a business cost.
We have the expertise, tools, and the multi-disciplinary approach to deliver the solutions need for your SST compliance obligations. Whether you need help with determining if SST applies to your products, becoming more SST efficient, or overall compliance, our team of experienced tax consultants, can help you manage and control your sales tax and service tax risk.