Goods & Services Tax (GST) Is Now Law in Malaysia

Goods & Services Tax (GST) is now Law in Malaysia and to be formally known as “Goods And Services Tax Act 2014”.

Malaysian Goods and Services Tax Act 2014 has been gazetted on 19 June 2014.

GST will be implemented on 1 April 2015 and the standard rate of GST is fixed at 6%. Certain essential goods will be exempted from GST.

Companies and businesses with yearly sales of more than RM500,000 are required to charge 6% GST on all goods sold or services provided to their customers. Certain industries are exempted from applying GST.

Please click here to download full version of Goods And Services Tax Act 2014 nbc-hot6

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