SST was implemented on 1st September 2018 and manufacturers, importers, exporters, traders and service providers need to possess the necessary knowledge to understand the fundamental sales tax and service tax (SST) principles . It is important for businesses to apply the correct SST treatment in order to submit the correct returns and pay the exact amount of tax.
Lately, even for businesses who are NOT registered with SST, you may also need to comply with the rules and regulations, e.g. vendor (agent) who purchase materials on behalf of a registered manufacturer will need to apply for Schedule C item 3 from customs in order to get exemptions from sales tax.
Furthermore, imported service will cover all businesses now. Non-registrant who consumed overseas service in Malaysia will need to declare and pay for the service tax.
Brochure
— Course Fee: RM 1,080.00 (Inclusive of 8% Service Tax) —
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- Module 1.1: Sales Tax 2018 (Single stage tax)
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- Scope of sales tax on manufacturing industry
- What are taxable goods?
- Persons who need to be registered to collect Sales Tax
- Application of sales tax registration
- Rate of tax
- Sales tax exemption available for goods
- Sales tax exemption available for persons (Schedule A, B & C)
- Usage of Schedule C series (ring system, vendor system and subcontractors) to obtained exemptions, e.g. importation of taxable goods
- Exemption available for Non-registered manufacturer
- Overview of MySST portal
- Sales tax exemption from registration
- Module 1.2: Sales tax treatment at Specific areas (Free Zone/LMW/ LW/ DA)
- Free Zones sales tax treatment, types of customs forms and exemption available
- LMW sales tax treatment, types of customs forms and exemption available
- LW sales tax treatment, types of customs forms and exemption available
- DA sales tax treatment, types of customs forms and exemption available
- Importation/ exportation of taxable goods at special areas
- Temporary Import (within 3 months) exemption for reprocessing or repair
- Acquisition of taxable goods from Customs warehouse
- Computation of sales value
- Module 1.3: Roles and responsibilities of Sales Tax registrant
- Types of records
- Prescribed details of invoice, Debit/ credit note for goods return and discount
- Sales tax return (SST-02) requirement at MySST portal
- Module 1.4: Service Tax
- Introduction to Service tax legislation
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- Scope of Service tax
- Taxable person and their threshold
- Payment basis
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- Rate of tax
- List of prescribed taxable services currently
- Provision of management services and consulting services
- Group of companies’ relief and same industry (B2B) exemption under PEFPOT
- SST-02A Form (Service Tax Declaration by Other Than Registered Person)
- Claiming for bad debts and Contra system
- Module 1.5 Digital Service Tax in Year 2020
- How does digital service tax work?
- Will consumer be tax twice under imported service tax and digital service tax?
- Module 1.6: Offences, penalties and instalment payment
- Late submission and payment of tax
- Failure to keep records
- Customs Appeal Tribunal
- Instalment payment
- Module 1.7: SST Concerns
- SST treatment for free services
- SST treatment for discounts given to connected persons
- and Q & A