GST Registration Kuala Lumpur, Penang

The goods and services tax, also known as GST, is a broadly applicable generalised tax on retail sales that is designed to combine the various discrete taxes into one entity. The GST greatly simplifies administration of taxes while resulting in no additional or very little tax burden for the end user.
Because the GST is levied at a retail level and because businesses both pay GST (when purchasing products for the purpose of said business) and remit GST to the government (that they collect from end customers on behalf of the government), there needs to be a system that allows the administration to keep track of tax remittances and credits. This is why the tax administration strongly recommends retailers and business owners to register under the goods and services tax administration. This registration is compulsory for business with a turnover over the threshold of RM500,000 for a period of 12 months or less.
Why Register For The GST?
Registering for the goods and services tax offers some significant advantages for businesses.

• Including the GST component in prices
• Claim credits for GST for business related purchases

Because GST is payable whenever any purchase is made, registering for GST directly allows businesses to calculate the taxes they pay and the amount of GST that is to be levied on customers who purchase the finish product. Also, because GST is simply collected from the customer and must be remitted back to the government, registering for GST allows businesses to easily claim the GST paid on purchases made in the interest of the business activity. This greatly reduces tax overhead and simplifies the entire process that used to be associated with remitting sales taxes and a host of other taxes.
What Can We Do For You?
OneAccounting provides high quality financial services in this country. We provide a tailor made all encompassing product that is designed to serve all your needs from every angle. To that end, we also provide GST registration services for our clients to complement our industry beating goods and services taxation services. Thanks to our experience and expertise in the world of taxation and financial services, you can expect the best from us when it comes to GST and related services. Our professionals can rely on decades of combined experience to deliver services that are superior to the competition in this field.