Who is online?
In total there are 3 users online :: 0 Registered, 0 Hidden and 3 Guests


[ View the whole list ]

Most users ever online was 25 on Thu Mar 12, 2015 5:00 pm
Latest topics
» This forum no longer accept new postings
Fri Jul 03, 2015 9:34 am by joseph

» Industrial Diesel
Fri Jul 03, 2015 9:11 am by joseph

» ICT industry
Fri Jul 03, 2015 9:10 am by joseph

» Input Tax (Passenger Car for business purpose)
Mon Jun 29, 2015 5:25 pm by joseph

» Conditions to Claim Input Tax
Mon Jun 29, 2015 3:12 pm by joseph

» Additional industry code
Sun Jun 28, 2015 5:53 pm by joseph

» Sales Commisions
Fri Jun 26, 2015 7:44 pm by Poon1

» Advance payment for services not rendered yet
Thu Jun 25, 2015 4:13 pm by joseph

» Turnover Below RM500,000 subequent to GST registration
Wed Jun 24, 2015 6:16 pm by joseph

» Consigment Sales
Wed Jun 24, 2015 6:00 pm by joseph

» GST Accounting Entries
Tue Jun 23, 2015 10:21 pm by joseph

» Advance payment received from Customer
Tue Jun 23, 2015 5:45 pm by joseph

We have 351 registered users
The newest registered user is emtng

Our users have posted a total of 570 messages in 139 subjects

Display results as :

Rechercher Advanced Search

General Information on GST

View previous topic View next topic Go down

General Information on GST

Post by Admin on Sat Sep 27, 2014 5:30 pm

GST will be implemented on 1.4.2015

At present, 160 countries have implemented GST.  Rates are generally between 5-25%.

GST Rates among Asean countries
- Thailand and Singapore 7%  
- Indonesia, Cambodia, Laos and Vietnam 10%
- Phillipines 12% Only Malaysia, Myanmar and Brunei have not implemented GST
More info on countries that have implemented GST can be found in http://gst.customs.gov.my/en/gst/Pages/gst_ci.aspx

The purpose of implementing GST is to increase government revenue and reduce dependence on corporate and personal income tax and petroleum tax.  In 2013 income tax and petroleum tax account for 58% and 30% of government revenue respectively.

To ease the burden of the public following GST implementation
- In YA 2015 – personal tax rates will be reduced 1-3%, corporate income tax from 25% to 24%
- For companies with paid-up capital of up to RM2.5mil, the rates will be reduced by 1 percentage point as follows:
  (a) from 20% to 19% on chargeable income up to RM500,000; and
  (b) from 25% to 24% on the remaining chargeable income.
- Household with income below RM4,000 per month will get one off BRIM cash rebate of RM300.


Posts : 47
Join date : 2014-07-30


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum