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the goods and services tax in malaysia

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The Goods and Services Tax in Malaysia (GST) was initially mooted by the federal government in 2011 to replace the existing Sales and Service Taxes, but was met with much resistance from the public at large, partially due to the implication of a price hike in essential goods and services, but also partially due to the lack of clarity around the current consumption tax systems in Malaysia. PRESENT TAXATION SCHEME PROPOSED GST NAME Sales and service tax Goods and service tax TYPE OF TAX Single stage taxes Multi- stage tax (for suppliers) Consumption tax (for final customer) TAX RATE Salex tax – generally 5% to 10% Service tax – 6% Goods and service tax – 6% WHEN IT IS CHARGE Sales tax is charge on locally manufactured and imported goods Service tax is charge on selected service Charged only once (single stage) Applies to goods and service (unless exempted) as well as to imported goods and services Incurred by supplier (input tax) Charged to customer (output tax)

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The Goods and Services Tax in Malaysia (GST) was initially mooted by the federal government in 2011 to replace the existing Sales and Service Taxes, but was met with much resistance from the public at large, partially due to the implication of a price hike in essential goods and services, but also partially due to the lack of clarity around the current consumption tax systems in Malaysia.PRESENT TAXATION SCHEMEPROPOSED GST

NAMESales and service taxGoods and service tax

TYPE OF TAXSingle stage taxes Multi- stage tax (for suppliers) Consumption tax (for final customer)

TAX RATE Salex tax generally 5% to 10% Service tax 6%

Goods and service tax 6%

WHEN IT IS CHARGE Sales tax is charge on locally manufactured and imported goods Service tax is charge on selected service Charged only once (single stage) Applies to goods and service (unless exempted) as well as to imported goods and services Incurred by supplier (input tax) Charged to customer (output tax)


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