MELAKA: The scope of the Sales and Services Tax (SST) will be expanded to cover four new types of services effective March 1.
They included amusement park operations, securities brokerage and underwriting, cleaning services, and training provision, said Customs director-general Datuk Seri T. Subromaniam.
“Companies providing such taxable services with a total value of more than RM50,000 per annum must be registered with Customs on or before Feb 28, 2019.
“They have been given two months to register their business and prepare to implement service tax collection,” he told a press conference here yesterday.
Subromaniam said about 5,000 to 10,000 companies offering these services were expected to be registered.
The Royal Malaysian Customs Department, he said, would release an industry guide to assist them in the smooth registration and implementation of the service tax system.
“The companies involved can also get further detail on the matter through channels such as the MySST portal, Customs call centre and nearby state Customs offices,” he added.
He explained that the wider scope of services covered was intended to raise the government's revenue collection, adding that the revenue would then be channelled to the people, especially the B40 group, through various incentives and infrastructure.
Meanwhile, Subromaniam said the service tax exemption involving the professionals group (Group G) that provided the same services to other registered individuals in the same group, which would be implemented tomorrow, would benefit 20,000 to 25,000 companies.
He said the tax exemption also would prevent cost increases due to double taxation and retain the local services industry's competitiveness. — Bernama
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
What do you think of this article?