The indirect tax landscape in Malaysia is evolving at a fast pace. Since the repeal of the Goods and Services Tax (GST) and the implementation of Sales Tax and Service Tax (SST), indirect tax risks have never been higher. Many goods are exempted from Sales Tax. As a result, the onus is on businesses to correctly classify goods to determine if Sales Tax is applicable. Incorrect classification could result in the short payment of tax or even the failure to register with the Royal Malaysian Customs Department, for which back taxes and penalties may be collected.

An additional layer of complexity arises due to several exemptions designed to maintain the single stage nature of the tax. Generally, the exemptions come with conditions which must be adhered to.

Note: pricing is customised, contact us for more information.

0.5 day                  Classroom/virtual

Target audience

• Finance directors
• Tax controllers
• Senior management
• Finance and tax managers/executives
• Financial analysts
• Regulators, academicians and accountancy students

Objectives

This module gives an overview of the Sales Tax framework, administrative requirements and general Sales Tax issues that the company would need to consider. It will also cover the potential penalties in the event of non-compliance.

Outcome

Ability to understand the sales tax compliance obligations and sales tax administrative issues, which can minimise non-compliance penalties/costs. Plus, to help understand the exemptions that may be available to the company.

Agenda

• Sales Tax framework (concept and scope)
• Administrative requirements (licensing, documentation and reporting requirements)
• General Sales Tax issues to consider, including the availability and eligibility of exemptions
• Penalties, fines and other risks on non-compliance to Sales Tax laws and regulations

Professional associations recognising PwC CPE points

Not applicable

HRDF claimable

Not applicable

Available in

Malaysia