Are you facing some of the operational problems like running our of accounting staffs or to cut down on operational cost? Well, we have your problems answered. Be with us and enjoy our special tailor-made accounting packages:
GST and Accounting packages (GST会计包):
These are the customized of our services that you can choose from and pricing will be vary from how you choose to customized your needs:
Accounting Needs: Price (RM):
a.GST new registration GST新注册; RM 300 per company
b. GST dis-register; RM 150 per company
b.Complete of general ledger (完成总分类帐); TBA
c.Prepare of a trial balance, profit and loss account and balance sheet; TBA
d.Completing management accounts for audit; TBA
e.Submit of GST 03 either monthly or quarterly (每月或每季度提交GST 03) from RM 700/ monthly
Under the scope of GST, supplies fall onto 3 categories:
1. Standard Rated supplies (SR):
SR refer to taxable goods and services where any taxable person or company who is registered with GST requires to collect GST on behalf the government and at the same time, the person/ company is eligible to claim GST input on the business inputs. For consumers, they can identify SR by the label with an “S”.
Goods example: local supply of goods, services, commercial land or all types of building.
2. Zero Rated supplies (ZR):
ZR is refer to taxable goods & services which is subject to the tax rate of 0%. On this category, the taxable person/ company does not need to require for GST registration but the taxable entity is eligible to claim input GST credit on the business inputs while producing the supplies. For consumers, they can identify ZR with the label with an “Z”.
Goods example: basic food, rice, beef, water for domestic use and the first 200 units of electricity per month for domestic houses.
3. Exempt supplies (Z):
Exempt supplies are goods and services which are not subject to GST and not included in your GST return.
Exempt supplies include:
- donated goods & services sold by non-profit companies
- financial services
- renting a residential home
- penalty interest
Financial services
Financial services include the following:
- paying or collecting any amount of interest
- mortgages and other loans
- bank fees
- securities such as stocks and shares
- providing credit under a credit contract
- exchanging currency (for example, changing US$ into NZ$)
- arranging or agreeing to do any of the above (for example, mortgage broking)
- financial options
- provision or transfer of ownership of a financial option
- deliverable future contracts
- non-deliverable contracts.