Arab Today, arab today all exports zerorated in malaysia
Last Updated : GMT 02:01:08
Arab Today, arab today
Arab Today, arab today

All exports zero-rated in Malaysia

Arab Today, arab today

Arab Today, arab today All exports zero-rated in Malaysia

Kuala Lumpur, Malaysia
Kuala Lumpur - QNA

To make the export sector in Malaysia more competitive, the government has to zero-rate all supplies of goods and international services exported from Malaysia under the Goods and Services Tax (GST) to be implemented next year, Malaysia News Agency (Bernama) reported.
The zero-rated supplies mean that no GST would be collected as businesses are eligible to claim input tax credit in acquiring supplies, according to the GST industry guide on manufacturing by the Royal Malaysian Customs Department.
With this benefit, the prices of Malaysian exports would become more competitive on the global stage as no GST is imposed on exported goods and services while GST incurred on inputs can be recovered along the supply chain.
In the long run, Malaysia's export industry will strengthen which in the process will help the country's economy to progress even further.
Based on the guide, exporters do not charge GST on their exports but are able to claim input tax credits on GST incurred in their inputs in the cost of business.
However, the guide says that the exporters should keep documentary evidence as proof of exports such as the export declaration forms, invoices and packing list.
At the National GST Conference 2014 here last week, the Royal Malaysian Customs Department's Assistant Director from the GST Division, Annie Thomas, said manufacturers who were export-oriented were eligible for special schemes such as "approved trader scheme".
Under the scheme, she said, the manufacturers could suspend GST payment on imported goods, thus alleviating their cash flow problem on importation.
Other special schemes that were introduced to alleviate negative cash flow impact to business include facilities called the "approved toll manufacturer scheme" (ATMS) and the "warehousing scheme" (WS).
Toll manufacturing is an arrangement in which a company which has a specialised equipment processes raw materials or semifinished goods for another company.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today all exports zerorated in malaysia Arab Today, arab today all exports zerorated in malaysia

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday