Saturday, April 11, 2015

My take on the Malaysian GST?

Some people are really ridiculous. There is no such thing as verification and the like for GST vendors and the like especially for street vendors. Where the certificates??

Honestly ya, every other country that uses GST issues certificates to be displayed on premises. Malaysia don't. 

GST prices are inclusive of GST unless they are selling to businesses. This act of even makcik nasi lemak at plus highways charges GST baffles me. So u r telling me her turnover is RM1500 a day at least?? So if u charge me RM1.06 then you cannot round up n charge me extra 4sen as its illegal tax and underpayment is also an offence. Make it clear lah you stupid fools. 

Friday, April 3, 2015

So GST Again...

Some one asked...if my business is not turning over RM500,000..... I don't need to register... but then you can claim back your input tax on everything you buy if you are GST Registered.

Simple softwares like Microsoft Quicken or Quickbooks or MYOB can help you automate.
Just make sure your paperwork are in order.

And even since my business is primarily in Singapore but I do buy things from Malaysia, I am able to escape from Singapore GST and local taxes for spending less than $150 *(RM400) if less than 48hrs or $600 per person if over 48hrs. That is based on PER PERSON PER heeee.. I can be sneaky and buy my stuff with 4 kids in tow..means I can bring in up to RM2400 duty free... saving $60 in Singapore GST and RM144 clawed back from Malaysia GST and my full tank of petrol worth of RON97...

Sneaky rite?? But many done it back in UK / EU already mate... and that is the BEAUTY of things here in Malaysia. You can write yourself everything is EXPORTED into Singapore by means of a Bill of Sale addressed to an address in Singapore and presto.. no output tax . ZERO RATED.

Thursday, April 2, 2015

Registered for Malaysia GST

So I got buggered by the Malaysian Customs since I operate as a Corporation in Malaysia and Business in Singapore and as such I have to TAX every one of you RESIDING IN MALAYSIA at standard 6% rate on EVERY SERVICE PROVIDED. However, if you can prove to me you are NOT RESIDENT (non-citizen) or addressed outside Malaysia, in Langkawi or Labuan or Singapore Protected Regions (Of Pedra Blanca, Brunei, FTZ), then tax is not chargable.

So legally, my Malaysia GST # MY-000-694-898-688 registered to company # 809970H.
In Singapore, my registration number is tagged to UEN 53231076D

Anything else???