fbpx

Duty beyond just “assisting” Government to collect GST?

There are many flawed perceptions as to the mechanism of the soon-to-implement Goods and Services Tax in Malaysia.

The common belief is that we are “helping” Government to collect tax.

It is flawed indeed, in reality business is given a statutory DUTY to do so. It is never an act of free will for business to spend money and time to collect tax on behalf of Malaysian Government.

Duty is an obligation, “helping” is by choice.


Business is given the onerous duty to act as Trustee to collect GST, with government being its Principal.

Nothing more nothing less principle

As a result, business entity is required to account for the correct amount, nothing more nothing less.

Under-charged of GST will result in business having to fork out the differential sum from their own pocket. Over-charging again is illegal in law.

Failure to comply result in breach of trust and this is commonly known as a White Collar Crime.

Unlike all other taxation imposed, GST a tax which require business to have more advanced knowledge.

subscribe-now
Attending “any” seminar will provide the solution ? NO.

There are many seminars or free seminars out there to tell you what GST is, with focus on its concepts. Not sure if they will paint the true picture of “how to” implement and its untold risk and its solutions. Some even promote the wrong concept of GST. As a result leaving business owners to either undermine impact of GST or over worried.

 

d934afcd-93b8-4f66-9e5c-f7339ed62694

 

Beware of what seminar you and your colleagues are attending

If you are search for seminar to attend GST seminar do ensure you are attending event with : (i) reputable and professional speaker (to keep you awake and reliable information), (ii) speaker is highly experienced in GST research and implementation (provide answer to your concerns), (iii) not purely a seminar created to sell their services (over emphasis placed on injecting worries and glooming points).

We at Synergy TAS engage Dr Choong Kwai Fatt as the speaker, where our emphasis is to disclose the “how to” implement GST systematically to you. His 1st Session and 2nd session were sold out. The 3rd session will be held in Grand Hyatt (10 July 2014). We are afraid this might be the last session for GST intermediate as later part of the year Dr Choong is booked for various GST implementation jobs and he has to prepare for GST advanced seminar.

Congratulation to those who have attended and thank you for helping us to spread the news around.
We appreciate that very much and we believe you have benefited by attending GST: Intermediate on 24.4.2014, 25.4.2014  and 19.5.2014.

 

Our Upcoming Events :


Click on the image below to find out more.

KL-July-2014Kuching--June-2014


subscribe-now

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email

Related Posts

Reliable ESG Committee agrees: they need these

Understanding ESG Committees At its core, an ESG committee is tasked with oversight, guidance, and strategic integration of sustainability efforts across the organisation. They’re at the helm, transforming ESG concepts into actionable initiatives. The benefits? Enhanced risk management, improved regulatory compliance, and ultimately, a solid reputation bolstered by responsible corporate citizenship. However, have you wondered

Industry 4.0: Not Just a Game Changer for Manufacturing now

The dawn of Industry 4.0 has sparked revolutionary changes across manufacturing floors worldwide. But is the story of the Fourth Industrial Revolution solely written for the manufacturing sector? In this blog post, we dispel the myths and take a panoramic view of Industry 4.0’s influence beyond its traditional stronghold.

Game Changing: E-invoicing Is Really Part Of Industry 4.0

 Transparency and Accuracy — The Need of the Hour The demand for real-time data is imperative for smart manufacturing. E-invoicing pioneers this demand, automating data exchange and drastically reducing errors that erstwhile haunted manual entries. For supply chain managers and business owners, such enhancements in transparency and accuracy mean better control over financials and an improved bottom line,

Stand United Against Racial Discrimination Today and Everyday

Inclusivity Isn’t Optional; It’s Essential Have we considered the richness that a diverse community brings to our lives? From the varied cultural experiences to the wide array of perspectives, inclusive communities pave the way for innovation and creativity. Yet, inclusivity cannot exist where racial discrimination persists. ***It’s a harsh reality, but it sets the agenda

Why Accountants Are Surprisingly In Love with E-Invoicing

Artificial Intelligence (AI) and automation are often viewed with a mix of curiosity and trepidation. There’s an ongoing debate, especially when it comes to professions steeped in tradition and expertise, like accountancy. One might assume accountants would be a bit hesitant about the move towards e-invoicing, fearing job redundancy. Yet, the reality is quite the opposite. Accountants are not just warming up to e-invoicing; they are outright championing it!

7 practical esg strategy you want to know now

7 ESG Strategies for Malaysia Companies: A Guide to Sustainable Success   In today’s rapidly transforming business landscape, environmental, social, and governance (ESG) strategies are more than noble commitments—they’re a necessity. What can organisations do to thrive and lead the way in sustainable practices? The answer lies in understanding how to effectively embed ESG considerations into a

E-Invoicing: why government insist on Implementing now

E-invoicing is a New Way of managing Invoices in Malaysia. Many are unaware why Malaysia is moving into E-Invoicing and let alone understand how it works. Therefore we created this article and Infographic for you, so that it will be easier for you to explain, share and help others understand “What it is Above”.  

e-invoicing : Why bother to jump in now

In a nation where tradition meets innovation, the ground beneath the business sector in Malaysia is shifting. The transition from paper to pixels in invoicing is not just a tech trend; it’s an overhaul redefining financial processes and efficiency.
For tax consultants, small businesses, and accounting professionals, this shift is more than just a modern convenience. It’s a sea change in reliability, transparency, and scalability.

einvoicing rising tide of change

E-Invoicing in Malaysia: your list of Must know Challenges 

With the official mandate by theTax Authority, beginning August 2024 for Phase 1 implementor (ie. businesses with revenue above RM 100 million), requiring companies to issue electronic invoices, this transition is not one to be taken lightly.I’ll help you understand proposed changes and potential challenges, including technical issues, managing change, and fraud and security in digital finance.

Scroll to Top