Malaysia Customs Agency Issues GST Guide on Declaration, Adjustments in English

The Malaysian Customs Department Aug. 18 issued a guide on GST declarations and adjustments after Sept. 1, 2018, in English. The guide includes: 1) information on tax adjustments and declarations after the repeal of the Goods and Services Tax Act 2014; 2) processes for bad debt relief adjustments after Sept. 1, 2018, for registered taxpayers who paid output tax on taxable supplies, but didn’t receive payment; 3) procedures to claim bad debt relief and adjustments to recover outstanding amounts from buyers; 4) adjustments for repayment of outstanding amounts due to suppliers; 5) record-keeping requirements for registered taxpayers; and 6) FAQs ...