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GST on Visa, Airport Tax, Travel Insurance, Deposit, Booking fee, Cancellation fee, Amendment fee etc

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GST on Visa, Airport Tax, Travel Insurance, Deposit, Booking fee, Cancellation fee, Amendment fee etc

Post by Admin on Thu Oct 30, 2014 10:18 pm

GUIDE ON TRAVEL INDUSTRY
As at 10 AUGUST 2014

25. Deposit / Booking Fee;
(a) If a deposit/booking fee is charged as a part payment for a taxable supply, it is subject to GST at standard rate.
(b) If a deposit/booking fee is charged is not regarded as a part payment for a taxable supply, it is not a consideration for the supply and is not subject to GST.
(c) Any deposits/booking fee that are subsequently forfeited by the supplier is treated as not a supply.

26. The booking of an accommodation in a hotel and a flight ticket in Malaysia are taxable supplies subject to GST at standard rate. If the booking fees incurred for booking a hotel located outside Malaysia, the booking fees (if considered as part payment for the supply of accommodation) is zero rated as it relates to services to be consumed outside Malaysia.

27. Cancellation Fees;
(a) Cancellation fees are regarded as compensation and therefore not subject to GST;
(b) Credit note is allowed to be issued for cancellation of air ticket or tour package and GST must be adjusted accordingly.

28. Amendment charges are regarded as compensation and therefore not subject to GST.

29. Arranging for visa and visa fees; (the service or administrative fees imposed) is subject to GST at standard rate.

30. Airport tax is subject to GST at standard rate.

31. Travel Insurance;

(a) Supply of travel insurance for an outbound tour is a zero rated supply and the premium charged is not subject to GST.
(b) Supply of travel insurance for an inbound tour is a standard rated supply and the premium charged is subject to GST at standard rate.
(c) The arranging of travel insurance for inbound or outbound tour is a standard rated supply and the commission charged for such a supply is subject to GST at standard rate.

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