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Companies with services exceeding RM500,000 subject to SST

Companies with services exceeding RM500,000

Bernama News Channel

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The Royal Malaysian Customs said companies with taxable services exceeding RM500,000 a year are required to sign up for 4 new taxes before the end of February this year. Customs Director General Dato’ Sri Subromaniam Tholasy said that any company failing to do so will be penalized under the provision of the existing law which comes into force on March 1.

“We have the data under GST, so we will force register them (the companies) come March if they do not register themselves,” said Subromaniam during a press conference after participating in an SST seminar organized by KPMG Malaysia. Also present at the press conference were Dato’ Tan Sim Kiat, Advisor, KPMG Tax Services and Ng Sue Lynn, Executive Director of Indirect Tax Practice, KPMG Tax Services.
 

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