Service tax group relief be allowed for taxable services under under Group G of First Schedule of Service Tax Regulations 2018 (excluding employment and security services) provided by a company to a third party who is not within the same group of company from 1 January 2020, subject to condition that the value of such services does not exceed 5% of the total value of services provided by that company within 12months.
Sales And Service Tax Updates from Budget 2020
A new Approved Major Exporter Scheme shall be introduced under the Sales Tax Act 2018 from 1 July 2020.
- Approved Major Exporter Scheme for traders or manufacturers of exempted goods with export of not less than 80% of annual sales will be entitled for: i. Full sales tax exemption on importation and purchase of goods or raw materials, components and packaging materials; ii. Not required to determine quantity of goods to be exported at time of importation or purchase of goods.
- Implementation of Digital Service tax will come into effect on 1st January 2020
Mr. Zen specialises in both direct and indirect Malaysian taxation. He has been involved in the tax compliance and tax advisory works for more than 10 years in various industries ranging from manufacturing, trading (retail & business services), franchisor/ licensor, education, investment holding, investment dealing, forestation, agriculture, foundation, association and trade union.
He is active in giving tax related talks and seminars such as budget talk and tax updates seminar. He is also a qualified consultant and trainer on Goods and Services Tax (GST) by the Royal Malaysian Customs (RMC) and Ministry of Finance (MoF). He is a licensed GST Tax Agent and Tax Agent, approved by the MoF. He is also a Council Member in the Chartered Tax Institute of Malaysia (CTIM).
Our Speaker
Zen Chow
Executive Director
Head of Tax Department in YYC Tax Consultants Sdn Bhd
