Global Indirect Tax Services

Keeping up with goods and services tax (GST) and customs regulatory requirements is a challenge all too familiar for business owners. Mitigating the risk of non-compliance can save businesses from penalties and composition costs, while applying for relief schemes could mean cost savings as business cash flow improves.

In practice, however, the considerations can vary widely, especially when business interests grow or when mistakes are made.

Responding to your tax issues

1. Getting started with GST
   
   Matters to consider
   - Registeration for GST
   - Option not to register for GST
   - Claiming GST on expenses incurred prior to GST
     registration
   - Applicable GST schemes to your business
   
   
   How we can help
   - Advice on global GST regime
   - Application for GST registration
   - Application for exemption from GST registration
   - Pre-registration input tax claims
   - Analysis of pros and cons of various schemes relevant to your business 
   - Application for relevant schemes
   - Malaysia Goods and Services Tax Toolkit 
   
   
2. Compliance
   
   Matters to consider
   - IRAS audit
   - Errors made in submitted GST returns
   - Penalties imposed by IRAS
   - Protracted GST dispute with IRAS
   - Tips on GST compliance
   - Avoidance of common mistakes
   - Voluminous transactions to review for GST compliance
   
   How we can help
   - Handling IRAS queries
   - Assistance in disclosure of errors
   - Filing GST F7 errors
   - Attending meetings with IRAS
   - Appeal on waiver of penalties
   - Preparation/pre-submission review of GST F5 returns
   - Performing GST "health checks"
   - Conducting customised in-house GST training
   - Developing customised GST procedural manual
   - Scanning source data to identify potential risks and errors with KPMG's data analytical tool (KDAT)
   
   
   
3. Planning for efficiency
   
   Matters to consider
   - Improving cashflow
   - Improving inter-company sales
   - Reducing GST compliance cost
   - Initiatives to improve internal control and processes to secure ongoing GST compliance
   - Considerations in embarking on a merger and acquisition
   - Recovery of European VAT incurred on certain types of business expenses
   
   How we can help
   - Applications for various schemes such as
        - Major Exporter Scheme
        - Zero GST (ZG)
        - Approved Contract Manufacturer and Trader (ACMT) Scheme
        - Import GST Deferment Scheme (IGDS) 
   - Application for GST group registration
   - Review and evaluation of existing indirect tax accounting procedures and processes
   - Assistance in undertaking:
        - Assisted Compliance Assurance Programme (ACAP)
        - Assisted Self-help Kits (ASK)
   - Due diligence review
   - Advice on salient points on merger and acquisition
   - Assessing the possibility of claims and advising on European VAT claims
   
   
   
4. Cessation of business
   
   Matters to consider
   - Deregisteration from GST
   - Repaying input GST to IRAS for existing assets acquired during GST registration
   - Seamless GST deregistration process
   - Charging GST on business transferred 
   
   How we can help
   - Advice on implications arising from GST
   - Application for cancellation of GST registration
   - Filing of GST F8 (last return)
   - Planning efficient GST deregistration process