MALAYSIA SALES & SERVICE TAX (SST)

Under the Service Tax Act 2018,  the company must register when the value of taxable services for a 12-month period exceeds a threshold of RM500,000.00. The SST threshold for operation of restaurants, bars, canteens, cafes or any place that provides food and drinks, are subject to a RM1,500,00.00 threshold.

The Sales Tax Act 2018 is levied at the import or manufacturing levels, and companies with a sales value of taxable goods exceeding RM 500,000 in a 12-month period are liable to be registered for the tax, which is levied at rates varying from 5% to 10% depending on the goods supply category.

Outsource SST Package:

• Recording and classifying the Sales amount with the respective Sales/Service Tax (Based on sales invoice prepared by the Company)
• Compiling data required by extracting information from accounting Record.
• Prepare Reconciliation worksheet to established reported tally with the financial report
• Complete & submit your SST Form 02
• Assist on payment submission.
• Monitoring the Service Tax payable in the balance sheet to ensure payment of Service tax is made payable within twelve (12) months from the date of the invoice.