Important Notice: Increase of Sales & Services Tax (SST) from 6% to 8% Effective 1 March 2024
According to the announcement of the Royal Malaysia Customs Department, the service tax rate will be increased from 6% to 8%, effective from 1 March 2024, on selected taxable services, including the legal services sector.
As the Royal Malaysia Customs Department has yet to publish the guidelines on implementing the impending SST increase, we at Veon Szu & Kok Thye have devised the following tentative framework to facilitate this change. (Note: Veon Szu and Kok Thye reserve all rights to revise or modify the information as deemed necessary.)
Take note:
Effective date
1 March 2024.
Transitional rules for the increase of service tax
- Services provided before the effective date are subject to service tax at 6%.
- Services provided after the effective date are subject to service tax at 8%.
- For services provided spanning the effective date:
– (i) The part of services provided before the effective date is subject to service tax at 6%.
– (ii) The part of services provided after the effective date is subject to the service tax at 8%.
We fully understand the potential impact these changes may have on your financial considerations; we pledge to remain steadfast in providing outstanding legal services. We will work together closely with you in finding ways to minimise any impact on your overall costs.
Should you have any queries or require any further clarification, kindly contact us at 04-3730331 or email us at contact@lawyerveonszu.com.
Thank you.