Before the GST was introduced. Malaysia uses SST or also known as Sales and Service Tax. Sales Tax and Service Tax are two different taxes.
- Sales Tax
More known as Single Stage Tax. It means the government only collects taxes from the manufacturer or factory.
Its rate can be 5% or 10% depending on its goods or goods.
That is the only manufacturer who will pay this tax to Gov. But its logic, the manufacturer will definitely charge this sales tax to the wholesaler.
Manufacturer does not need to display any of the tax value in the invoice issued. Continue to include in the invoice value. And the invoice will be used is a normal invoice. Not a tax invoice.
- Service Tax
Service Tax will be charged by some of the services offered to consumers.
Tax rate at 6%
For example: Professional services such as lawyers and accountants. In addition, other services provided by the hotel and restaurant
For more information about GST Accounting Services, please visit https://www.rsmmalaysia-outsourcing.com/accounting.html