Except Petroleum Products, the tax period for all goods is 2 calendar months. The tax must be paid to the customs authorities within 28 days of the expiry of the taxable period.
The Taxable periods and their due dates are as follows
|
Tax Period |
Due Date |
|
January – February |
28th March |
|
March – April |
28th May |
|
May – June |
28th July |
|
July - August |
28th September |
|
September – October |
28th November |
|
November – December |
28th January of next Financial Year |
The taxable period for petroleum products manufactured in Malaysia is one calendar month and tax charged must be paid to the sales tax office within 10 days of the expiry of the taxable period.
For petroleum products stored in licensed warehouses, the sales tax is due only when they are released from the licensed warehouse. The sales tax is payable within 10 days of the end of the month in which the sales tax arises.
The failure to pay the sales tax within the stipulated time attracts penalties as follows.
|
Period delayed |
Penalty |
|
Unpaid after 28 days / 10 days |
10% |
|
Unpaid for each subsequent period of 30 days |
10% to a maximum of 50% |
Under Section 29 of the Sales Tax Act 1972, all duty-paid goods used as materials for the manufacture of other goods which are subsequently exported, are eligible for drawback of the sales tax in full.
With effect from 1 January 2003, a licensed manufacturer or importer is eligible for a refund of sales tax in relation to debts deemed as bad debts.
Bad Debts include debts which cannot be collected after 12 months from the date of payment of tax.
In the returns furnished in accordance with Section 19, a licensed manufacturer may deduct the amount of sales tax paid in respect of taxable goods returned by a purchaser, or discounts subsequently given to the purchaser, from the amount of sales tax accounted for in the return.
The credit note issued by a licensed manufacturer to a purchaser must contain the requisite particulars.
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