Tax consultant to hold national SST course at various venues
KUCHING: Trainer Tan Kok Tee – a tax consultant with over 40 years’ experience – will conduct the one- day National Sales and Services Tax ( SST) Course 2018 at various venues next month.
On Aug 1, the course will be held at Harbour View Hotel, Kuching, followed by Mega Hotel, Miri (Aug 4), Harbour View Hotel, Kuching (Aug 27), Paramount Hotel Sibu (Aug 28), and Promenade Hotel, Bintulu (Aug 29).
“The one- day course at these various venues aims to shed light on many of these business issues and is a must- attend for accountants, tax personnel, business owners, directors,” Tan said a press release yesterday.
“Businesses in Malaysia are expected to usher in another major tax reform in a matter of weeks. Twice in three years to be exact, in the form of two new taxes, widely known as Sales and Services Tax.”
Tan said in recent weeks, much has been discussed about the consumer price impact post SST.
“Not enough is being talked about the estimated 80,000 to 100,000 companies that are expected to be affected. Many are in the dark as to pressing issues involving compliance, execution of business strategy, staff training etc.
“For example, what is the new invoice format like? Would it even be called ‘ Tax Invoice’? Who is to bear for the additional tax burden of 4 per cent, who have contracts locked in since the GST era?” he questioned.
Tan said many accountants and directors have “conveniently forgotten” about the two taxes.
“Even though the new SST framework has been published on July 19, 2018 on the website of the Royal Malaysian Customs Department, gaps remain as far as the SST registrants are concerned,” he said.
“To ensure a smoother transition, businesses should get ready as soon as possible. Important steps including assessing the impacts of SSTon theiroperations, contractual obligations, supply chain, pricing strategy, procurement, HR (human resources), software and more.”
He said at the very least, businesses should ensure they are not running afoul of the new laws and regulations to avoid unnecessary penalties and fines.
SST will replace the goods and services tax on Sept 1.
The course fee is RM350 per person and is fully Human Resources Development Fund claimable.
Call Teo ( 011- 31789203) or Logesh ( 012- 3838603), or email SSTcourse@ gmail.com for details.