Who Must Register for SST in Malaysia?
Now that you’ve registered your business and are ready for operation, your suppliers, accountants, and many other business partners might be asking you one question - are you registered for SST? Most times, they expect you to be, but do you really have to register for SST? Here’s how you know if you need to register.
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Whether or not you’ll need to register for SST is relatively simple - you are eligible (and required to register) for SST if you are:
a business or service provider (as regulated by the Service Tax Act 2018), or a manufacturer or importer (this falls under Sales tax)
the annual value of your taxable services exceeds RM500,000, or
if you are operating in the food & beverage industry, the threshold is RM1,500,000
Certain exemptions will apply depending on what industry you are currently operating within, and where in Malaysia you are located.
Voluntary registration of SST (when the criteria for eligibility have not been met) is also possible, for example in cases where service providers want to meet the needs of their clients, or where a new business expects to meet the threshold within the next financial year.
If you need more information or advice on whether or not you should be registering for SST, give us a call today.