In conjunction with Malaysia’s new government decisions, Goods and Services Tax (GST) has been revised to 0% with effective from 1 June 2018, there are a few things need to be prepared by retailers using Flexilite.
The important things to be done while GST rate changes from 6% to 0%:
- Reduction of retail prices
- Retailers may use system to deduct 6% from existing prices
- Should retailers require any assistance from system vendor, all request should be made at least 5 working days before 1 June 2018, and are processed on first come first served basis (subject to service charges to be advised)
- System configuration changes for GST rate into 0%, for existing 6% tax codes
- No changes to printing of receipts and tax invoices at this moment, as long as the tax rate is zerorised
This is the official letter issued by the Ministry of Finance:
This is the FAQ list, download HERE
We have also collected some slides from tax consultants on their suggestions (only Chinese version available)
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