Blog Posts Archive

Archives / 2015 / February
  • Residential maintenance fees to be GST-free

    PETALING JAYA: Maintenance fees for residential stratified properties will be exempted from the Goods and Services tax (GST), said Datuk Ahmad Maslan.

    The Deputy Finance Minister said the exemption covered all forms of residential stratified property, including low-cost housing projects, apartments and condominiums.

    "The decision was made after taking into account that the maintenance services are not meant to make excessive profits," he told reports after attending a briefing on the GST, the …

  • GST registration deadline looming in

    With the extended GST registration deadline looming in, the Customs director-general Datuk Seri Khazali Ahmad has pointed to the unregistered companies to register for GST before 28 February 2015 or be prepare to pay RM15,000 in compound. He also mentioned that till date, there are more than 60,000 companies are yet to register for GST.

    Meanwhile, for companies that does not register within the extended deadline, they will face a compound of RM15,000 and will be force registered for GST. The …

  • No clarity on GST for secondary property market

    With the GST to be implemented in 1 April 2015, the Malaysian Institute of Estate Agents (MIEA) President Siva Shanker has highlighted that there is no clear guidance or analysis on how property prices are going to be affected in the secondary market. This is a crucial for the investment community and there are many unanswered questions, he added.

    Meanwhile, KP Bose Sdn Bhd tax consultant KP Bose Dasan has mentioned that guidelines from the customs has not taken into account on the …

  • "Extremely" challenging year for developer?

    IT was a somewhat sombre 8th Malaysian Property Summit on Wednesday with property consultants and a taxman highlighting how prices will move post-goods and services tax (GST) as a result of an over supply in most sub-segments. There will be more clarity by the middle of the year.

    The main take-away was the over supply in high rise residentals, hotel rooms, office and retail space. The shortage is in affordable housing, shop houses, industrial land and landed units.

    The event was organised by …

  • Register for GST soon or face legal action

    It has been stated by the Royal Malaysian Customs Department Director General Datuk Seri Khazali Ahmad that no legal proceedings will be taken against companies that register for GST by 28 February 2015. However, action will be taken for companies fails to do so and a crackdown will be launched from 1 March 2015 onwards.

    Citing with accordance with the provisions in the GST Act 2014, he said if an eligible business entity fails to register for GST by 28 February 2015, the customs will …

  • Businesses to be penalised for late registration

    With the deadline for GST registration over, the Malaysian Customs has begun imposing penalties for businesses that have not registered for GST within the stipulated deadline of 31 December 2014. The penalty is a graduated penalty, the quantum increases by RM50 every 20 days until April 1 when the GST kicks off, and the maximum penalty can go up to RM15,000.

    Director of GST Datuk Subromaniam Tholasy said that the Customs will be force-registering those businesses that had yet to register for …

  • GST on Pos Malaysia services

    The Malaysian postal service provider Pos Malaysia are in discussion with the relevant authorities on whether GST will be imposed for utilities bills paid at its counters to its customers, stated Pos Malaysia group head of corporate communications and customer care Datuk Rohaiza Hashim.

    However, she has denied allegations GST has already been imposed on customers when they pay utility bills such as water and electricity, and road tax renewal, and pointed that GST is only effective from 1 April …