Goods and Services Tax (GST)
Rising Global Consultants
The Ministry of Finance of Malaysia announced that starting from June 1, 2018, the Goods and Services Tax (GST) rate was reduced from 6% to 0%.
Comprehensive professional GST services
GST Register
Anyone providing taxable supplies for business purposes, with taxable turnover (pre-tax value) exceeding RM 500,000 within 12 months or less, is required to register for GST.
Businesses with taxable turnover of RM 500,000 or less are not required to register for GST but may choose to register voluntarily.
GST filing and payment
Provide support to accurately complete and submit GST returns, calculate the tax due, and ensure timely payment of GST.
GST consulting and planning
People think that accounting software compliant with GST specifications is required to implement GST, but this is not true. GST affects not only accounting but also the entire business process, including procurement, supply chain, sales, and marketing.
Tax audit preparation
Assist businesses in preparing for GST audits, organizing relevant documents and records for review by the tax authorities.
Tax planning and optimization
Assess the business’s GST liability, provide tax planning advice, and help the business optimize tax strategies to reduce tax expenses.
Training and education
Provide training on GST regulations and filing processes to help internal staff understand and handle GST-related matters.
Other Services
- Accept and respond to inquiries from the Royal Malaysian Customs Department (RMCD)
- Voluntarily disclose errors to RMCD to reduce the risk of penalties
- Handle RMCD audits and investigations
- Conduct GST compliance reviews (GST health checks)
- Provide advice on the impact of GST on startups, new business arrangements, and cross-border transactions
- Review internal controls of GST returns and provide recommendations
- Review the accounting system logic of GST codes and provide recommendations
Welcome to Contact Us
Phone Number: +60 3-8682 1802 | E-mail: officer@rising.com.my