The start of the taxable period is determined by beginning of the month when the taxable person has breached the threshold of RM 500,000 for mandatory GST registration.
Why is it important?
- This is the proper determinant on when tax returns are due.
What are the conditions?
- Total taxable supply of less then RM 5,000,000 per 12 months – Quarterly submission
- Total taxable supply of more than RM 5,000,000 per 12 months – Monthly submission
What if I don’t?
- N/A
How does Sage handle this requirement?
Our products handles this requirement from a few perspectives.
- In our dashboard we continually monitor the taxable supply, especially important for businesses which have yet to reach RM 500,000 in annual taxable supply.
- Once triggered, the Sage product will keep track of your taxable period and provide key details such as the next taxable period.
sage ubs gst dashboard
