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.
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.
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.