TAX QUESTIONS? YOU ASK LAH!

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Q: I run a trading business with an annual turnover of RM250,000. I am currently renting a small warehouse to keep my stocks. My landlord says he needs to charge me service tax because his rental income has exceeded the service tax threshold. Can I be exempted from paying service tax?

A: In order to be exempted from paying service tax, you must make a declaration and register your SME through the MyPMK system developed by the Royal Malaysian Customs Department (RMCD). Additionally, your annual sales must not exceed RM1 million, based on the latest assessed annual income declared to the Inland Revenue Board of Malaysia.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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