Malaysia cuts GST registration threshold
- Nov 8, 2015 | Richard Asquith
The new 2016 budget has introduced a number of changes to the Malaysian GST regime, which was introduced in April this year to replace the Sales and Services Taxes. The GST rate is 6%.
The changes include:
- The GST registration threshold will be reduced from MYR100,000 to MYR50,000 per annum on the flat rate VAT scheme for certain sectors only
- A GST exemption regime for reimporters is to be introduced
- The range of medicines subject to nil VAT will be extended
- Purchasers by consumers of prepaid phone cards are to receive a 6% credit of the GST
- Flights to a number of Malaysian rural locations and airlines are to become nil rated for VAT
VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara