Pioneer status may be granted to all companies participating in a promoted activity or producing promoted product. The power to determine any product or activity lies with the Minister of International Trade and Industry. A company that granted with pioneer status is entitled to total or partial exemption from income tax for a period of five years.
Goods and Services Tax (GST)
GST is an indirect, broad-based consumption tax. GST is also known as value-added taxes (VAT)s. It is called value-added as the net tax payable of any stage of supply chain is charged based on the increase in the price. Even though GST is a multi-stage tax, which means taxes will be charged at every stage of supply chain, there will be no issue of double taxation as business operators are entitled to claim the GST that they incur as input tax credit.
At TRIJ, the assistance that we provide regarding GST will allow you to have a better understanding of what is GST, comply with government regulations relating to GST, and most importantly help you doing all the GST-related assignments.
At TRIJ, we offer accounting-related service in:
Our GST-related service include:
Registration for GST status with Royal Malaysia Customs Department (Jabatan Kastam Diraja Malaysia)
De-registration of GST Status with Royal Malaysia Customs Department (Jabatan Kastam Diraja Malaysia)
Preparation and submission of all forms and returns on a timely basis
Advise on rules and regulation relating to GST affairs
Assist and advise clients on technical issues relating to GST Affairs