Cross Border Tax Accountants Ireland

Cross Border Taxes, International Tax Consultants, GST, VAT, Goods and Services Tax, Ex-pat Taxes, Chartered Tax Advisors

As Chartered Tax Advisors in Ireland, you might be surprised to learn how many of our multi-jurisdictional clients have contacted us regarding the new GST rules in Malaysia.  According to Malaysia’s Ministry of Finance, the supply of goods and services made in Malaysia will now be subject to the zero rated Goods and Services Tax (GST) effective from 1^st June 2018.  The “Goods and Service Tax (Rate of Tax) (Amendment) Order 2018” amends the rate of tax on the supply of goods or services as well as on the importation of goods from 6% to 0%.

Please be aware that the zero rating will not apply to the supply of goods and services listed under the Goods and Services Tax (Exempt Supply) Order 2014.  However, these goods and services will remain exempt from GST.

All persons registered for GST (Goods & Services Tax) must comply with the new legislation in relation to zero rating. At the same time, they will continue to be governed by the current regulations with regard to invoicing, filing and claiming input tax credits.

GST registered persons must continue to ensure that the pricing of goods and services provided adheres to the Price control and Anti-Profiteering Act 2011.

In summary, Malaysia’s Ministry of Finance announced that from 1st June 2018, the supply of goods and services made in Malaysia, in addition to the importation of goods and services liable to the 6% rate of Goods and Services Tax will now be subject to GST at 0%.  It’s important that you don’t confuse the supply of goods and services which are GST exempt with those liable to 0% rate.  Therefore, for complete clarity, the zero rate does not apply to the supply of goods and services listed under the Goods and Services Tax (Exempt Supply) Order 2014.  This continues to be exempt from the Goods and Services Tax.

For further information, please click: https://mysst.customs.gov.my/assets/document/SST%20Act/Sales%20Tax%20Act%202018_b.pdf

We are a boutique tax firm specializing in international and expatriate tax compliance for people moving to or from Ireland. We provide tailored advice for your unique set of circumstances.  With over thirty years experience simplifying complicated international matters, we have a proven track record of success.  If you’re an individual (including a remote worker or expat) we have the requisite expertise in personal tax residency, double taxation relief and tax compliance for people moving between jurisdictions. We help individuals manage risks associated with tax residency, split-year treatment, cross border relief and foreign earnings deductions.  If you are a business owner, we can support your business in relation to international social security, shadow payroll and policies to minimise double taxation.  To make an appointment with a Chartered Tax Advisor, please contact queries@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.