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Gearing up for Malaysia GST

Singapore businesses operating across the Causeway should start soon as there's much to be done so as to avoid penalties for non-compliance.

While good for consumers, certain GST rules in Malaysia will entail compliance costs for businesses as they need to differentiate between the goods and services that are zero-rated or exempt, and the impact on claimable costs.

ON April 1, 2015, Malaysia will replace its sales and services tax with a goods and services tax (GST). As another source of revenue, it may help to address the persistent budget deficit and growing debt that Malaysia faces today.

However, current projections suggest collections from the...

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