It's no joke where GST is concerned (unlike my previous post), as Bob Kee explains in The Star...
Excerpt:
"FOR goods and services tax (GST)-registered businesses who have monthly filing obligations, they would have filed their August 2016 GST return last month and this would have been their 17th GST return since Malaysia introduced this consumption tax on 1 April 2015.
Link
Excerpt:
"FOR goods and services tax (GST)-registered businesses who have monthly filing obligations, they would have filed their August 2016 GST return last month and this would have been their 17th GST return since Malaysia introduced this consumption tax on 1 April 2015.
After 17 returns, what is the state of play now? Do businesses know what they need to know to meet their expected GST obligations? With the 2017 Budget announcements coming up on Oct 21, 2016, what can businesses expect in terms of amendments or changes to the GST regime to improve the tax system?
At present, the Royal Malaysian Customs Department (Customs) is in its second month of carrying out audits on GST-registered businesses, targeting 50,000 audits by year end. It is my understanding that, so far, what these audits have revealed is the level of understanding that businesses have in order to comply with its GST requirements is very poor.
This is not due to the GST system being complex, granted there are complex issues, but rather those who are managing the GST compliance matters do not seem to understand some very basic and fundamental concepts of GST."
Rest of article: http://www.thestar.com.my/business/business-news/2016/10/13/the-hard-truth-about-gst/
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