Worldwide

VAT Reporting v18.9.1

October 1st, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month of October 18. It includes changes in reporting documents, modifications in VAT Reporting and bug fixes. New Malaysian SST-02 Form: We have implemented the Sales and Service tax return in VAT Reporting Form SST-02. However, as there are no confirmed …


Malaysia

Malaysia Sales and Service Tax goes live

September 1st, 2018

Malaysia has now passed (‘gazetted’) its implementing legislation for the new Sales and Service Tax. It becomes effective today, 1 September 2018. Goods produced locally or imported are now taxed at a standard rate of 10%. A range of goods are subject to a reduced rate of 5%, including basic foodstuffs; petroleum oils; construction materials; …


Malaysia

Malaysia launches Sales and Service Tax Sep 2018

August 2nd, 2018

Malaysia has tabled at Parliament the implementation bill for its Sales and Service Tax (SST), which comes into force on 1 September 2018. It is replacing the 6% Goods and Services Tax, suspended on 1 June 2018. The switch is expected to cost the country an estimated at RM25 billion in lost revenues as only …


Worldwide

VAT Reporting v18.6.1

June 29th, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month of June. It includes changes in reporting documents, SII updates, modifications in VAT Reporting and bug fixes. Main changes in reports Spain:The Modelo 353 Group Return (PDF) has been added, a consolidated form that is to be submitted by the …


Malaysia

Malaysia scraps GST June 2018

May 16th, 2018

The new Prime Minister of Malaysia has committed to withdrawing the 6% Goods and Services Tax, setting it at zero from 1 June 2018. It will be replaced by a more limited Sales and Services Levy – a sales tax. PM Mahathir Mohamad has promised to withdraw the consumption tax, which was only introduced in April …


Worldwide

VAT Reporting update 18.4.1

May 1st, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month April. It includes changes to reports, modifications and bug fixes. Main changes in Reports Spain – Immediate Filing (SII) We have started to implement changes to support filing of SII V1.1, which will be available from 1st July 2018. Please …


Malaysia

Malaysia 2018 GST changes

January 2nd, 2018

The Malaysian 2018 Budget introduced a number changes to the Goods and Services Tax regime. These include: Reclassifying the sale of newspapers, journals and books as nil-rated Exempting local government services from GST Exempting from GST management and maintenance services for certain housing development. The above changes came into effect on 1 January 2018.


Malaysia

Malaysia cuts GST registration threshold

November 9th, 2015

The new 2016 budget has introduced a number of changes to the Malaysian GST regime, which was introduced in April this year to replace the Sales and Services Taxes. The GST rate is 6%. The changes include: The GST registration threshold will be reduced from MYR100,000 to MYR50,000 per annum on the flat rate VAT …