Sunday, November 23, 2014

How does GST affect Malaysian SME – GEC Business Review

by Paul Lee

In general, total GST (or known as Goods & Service Tax) amount is paid by the taxable parties or individuals, of which it effectively paid across the value chain, through GST input credits and so on; businesses should not be affected directly by price increases due to any additional cost or GST.  

In brief, the added cost through the implementation process of GST will be due to the administration of GST input. Because of this, businesses with an annual turnover of less than RM500,000 are exempted from being GST taxation, hence such business is not eligible to collect or pay GST.

About GE Consult
Founded since 2003, GE Consult has helped numerous local SMEs/SMIs in developing their company profiles, business plans, business proposals etc. assisted clients in securing business deals and contracts. If you are looking for a winning company profile or any professional services, please do not hesitate to contact us at (+6017) 330 8077 and/or email for further service explanation.

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