What is GST?
Goods and Services Tax (GST) is a consumption tax levied on all taxable supply of goods and services.
When will GST be implemented?
GST will be implemented nation-wide from 1 April 2015 onwards.
How will I know if I will be charged GST?
Generally, GST will be charged on fees and charges for services offered. Where GST is charged, the GST amount will be disclosed separately in the tax invoice.
What is the rate of GST?
Expected to be 6%.
Will I be charged GST?
Financial services are generally classified as exempt supplies where no GST will be imposed on profit rate. However, Repossession Charges, Legal & other similar charges fee imposed by us will be subject to 6% GST.
Where can I obtain more info about the GST mechanism in Malaysia?
Please refer to the official website of the Royal Malaysian Customs Department (RMCD) at http://gst.customs.gov.my for more GST-related information, legislation and guidelines.