In readiness for the introduction of Goods and Services Tax (GST) in Malaysia from April 1, 2015, Q & A on GST in Malaysia has been designed and produced so as to present in an organised manner questions and answers on various aspects of this groundbreaking new tax. Readers of the companion book Q & A on Personal Taxation in Malaysia will be familiar with the characters involved in this dialogue on GST and the way that their everyday conversations are used to present information on various tax topics.
GST is a tax that will involve everybody in Malaysia in some way or other, ranging from the housewife shopping for necessities in the local market to the large multinational company engaged in a significant business in Malaysia. Each private person, businessman or tax compliance officer needs to be aware of the workings of the tax so far as it affects his own activities. Whatever the extent of those needs, finding the particular point which is of interest to the reader is made easy with a detailed table of contents and helpful cross-references.
Some of the topics discussed include:
- how will GST affect the end consumer?;
- who is responsible for collecting GST?;
- small or part-time business operators;
- exempt and zero-rated supplies;
- input tax and mixed supplies;
- imports and exports.
Clear summaries and instructive examples to explain the workings of more complex topics are also provided together with relevant clarifications provided by the Royal Malaysian Customs. For easy reference, details of the zero-rated and exempt supply orders as well as the schedules to the Goods and Services Tax Act 2014 have been included to the extent that space permits. As a help in understanding tax terms, the reader can readily turn to the comprehensive glossary provided.
Key features
- Clear explanation of GST delivered through everyday conversations
- Key tax points highlighted for easy reference
- Instructive headings for quick navigation through the book
- Helpful worked examples to illustrate complex concepts
- Useful appendices which reproduces relevant source materials