The GST Awareness Seminars are organized by Sage UBS and Pivotal Times Sdn. Bhd., (a specialists in GST knowledge for small and medium sized businesses in Malaysia) for Sage UBS customers and users.
The Seminars will be conducted in major towns where a leading tax consultant will share the fundamentals of GST and how businesses can easily meet government requirements. The objective of the seminar is not to try to make all attendees tax experts, as it takes years of know-how and experience to attain this, however, it is used to introduce key concepts to achieve a good basic understanding of GST.
Objectives of the seminar is to share information and help to answer the following questions.
- How will GST affect my business?
- Why should I register for GST?
- How can I ensure GST compliance in my business from the very beginning?
How will GST affect my business?
It is mandatory for businesses with RM 500,000 annual revenue and above to register for GST while businesses below this threshold can register for GST as well, on a voluntary basis.
The registration can submitted in the prescribed form obtained from the Customs Department.
Why should I register for GST?
Since a GST registered company can claim for the input tax incurred, you can actually reduce your operating costs and offer a lower price to your customers. You will also find that some of your customers will insist that you provide them a GST invoice, for them to claim the input tax (and thus reducing their operating costs) to avoid passing on additional costs to their customers. Therefore there may be some companies that will only purchase from GST registered suppliers.
In summary, business costs can be reduced as the input tax can be claimed from the government, and with these savings, you can sell at a more competitive price to your customer.
How can I ensure GST compliance in my business from the very beginning?
It is obvious that you need to understand clearly the GST regulations and its application and impact to your everyday business transactions and how it is recorded appropriately in your accounting software. Needless to say, you will need to attain such knowledge and advice from a trusted source and of course a credible supplier of business software.
For more information on the available GST Awareness Seminars please follow this link. Active Sage Cover members will receive a RM 100 rebate on the already very affordable seminar fees.
Photos of Recent GST Awareness Seminars
