GST Treatment on Insurance/Takaful – A Special Briefing for the Industry
The Malaysian Insurance Institute (MII) in collaboration with the Royal Malaysian Customs Department organised a one-day briefing session on GST Treatment on Insurance/Takaful that was held on 9 October 2013 at Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur. The purpose of the briefing was to prepare the insurance and takaful industry about the new industry GST, which is expected to be implemented soon and also to provide more information and guidance on the GST state of affairs. Since the tabling of the draft for the Malaysian Goods and Services Tax (GST) Bill in 2009, the Royal Malaysian Customs has released various draft guidelines, including the GST Guide for Insurance and Takaful for public feedback. A series of public consultations was also conducted nationwide. The speaker of the programme, Puan Nur Hanisah Dukes Abdullah, Senior Assistant Director of Customs I, GST Special Task Unit from the Royal Malaysia Customs Department presented to a total of 469 participants from 98 organisations across the insurance and takaful sector.