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Who is a Taxable Person?

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Who is a Taxable Person?

Post by Admin on Sun Dec 14, 2014 1:28 pm

A taxable person is

1. A person who makes taxable supplies in Malaysia and whose annual turnover exceeds the threshold of RM500,000. Such person is required to be registered under the GST Act.

2. A person whose turnover is less than RM500K and opts for voluntary registration.

3. A registered person is necessarily a taxable person but a taxable person may not necessarily be a registered person.

4. Once a person who makes taxable supplies' annual turnover exceeds the threshold of RM500,000, he is a taxable person whether or not he is registered. Late registration will attract late registration, late filing and late payment penalty.

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