What is GST?
Goods and services tax ( GST ) is a consumption tax charged on a wide range of domestic & international products, goods and services. It’s a broad-based tax imposed on every level of a product, from raw materials all the way to finished goods. It affects all layers of business and consumers – And whether you realize it or not, you’re being taxed for almost every thing.
How will the tax be charged?
GST will be charged at 4% of the value added to goods/services at each stage of production/ distribution. This rate, indicated by the Finance Minister, is known as the standard rate.
Who can charge GST?
A business with sales in one year amounting to RM500,000, as indicated by the Finance Minister, must register to charge GST. A business with sales amounting to less than this threshold may volunteer to register to charge GST and claim input tax credit.
What's your view and opinion on GST ???
MASC 2010 will share with you how to overcome it!!! Dr Veerinderjeet Singh, the Managing Director of Taxand Malaysia Sdn. Bhd agreed to attend our event and discuss with us about GST!! Don't miss it out!!!
Dr Veerinderjeet Singh - the Managing Director of TAXAND MALAYSIA Sdn. Bhd.
He has extensive experience in tax matters having been a Tax Partner in international accounting firms and having worked with the Malaysian Inland Revenue Department. He is a member of the Malaysian Institute of Certified Public Accountants (MICPA), the Malaysian Institute of Accountants (MIA), the Chartered Tax Institute of Malaysia (CTIM) as well as CPA Australia. He served as President of CTIM for 3 years till 12 June 2010. He is also the Chairman of the International Fiscal Association – Malaysia Branch. He was also a member of the Labuan IOFC Tax Consultative Committee set up by the Labuan Offshore Financial Services Authority. He has served as an Adjunct Professor at the University of Malaya and currently is Visiting Fellow at the Taylors Business School.. He has over 100 publications including books as well as articles in local and international tax, law and accounting journals and in local newspapers. He has advised on a wide range of tax matters affecting cross-border investments, corporate restructuring, financial institutions, multi-national entities, listed entities and government and quasi government entities and projects. (info source - http://www.taxand.com.my/mngt_team.html )
Come and Join Us to Get Yourself Involve In This Interesting Discussion !!!
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