Why understanding goods and services tax is vital for advertising agencies

Tax consultants O

PETALING JAYA: Advertising agencies must gain a very clear understanding of how they should impose goods and services tax (GST) charges for their work based on the time and place of supply, according to a tax consultant.

According to BDO Advisory executive director Mok Chew Yin, it is critical that advertising agencies know whether they could charge the standard rate of 6% or zero-rate their fees once the GST comes into effect on April 1, 2015.