Monday, September 22, 2014

Smart Update: E-Voucher for GST

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Refer to below how to apply E-Voucher.

How much is the financial assistance?

The financial assistance has been structured to assist as many SMEs as possible. Therefore the final amount is RM 1,000 per qualified SME.

How do I qualify?

The requirements set-out by the authorities are simple and provided on the E-Voucher website. We made a quick summary below.

· The business equity must be at least 51% Malaysian.

· If you are in the manufacturing sector then your annual revenue should be less than RM 50 million or the number of full-time employees less than 200 persons.

· If you are in the service sector then your annual revenue should be less than RM 20 million or the number of full-time employees less than 75 persons.

· You should not be a PLC, subsidiary of a PLC, an MNC, subsidiary of an MNC, GLC, MKD, or a State-Owned Enterprises.

Remark: Before applying E-Voucher for GST, please get an advice either from your accountant or tax consultant first.

How do I apply?

Step1               

Register for GST

You will be first required to register for GST to attain your GST number, a requirement for the financial assistance program. The registration for GST has been opened since June 1, 2014 and is applicable for all businesses whom have annual revenue above RM 500,000.

You can register via the Royal Malaysian Customs's website http://gst.customs.gov.my/ Refer to TAP (Tax Payer Access Point)

Step2               

Apply for E-Voucher

The financial assistance is provided via E-Vouchers which can be used against your new purchase of software or software upgrades including training. This process is entirely online.

You can apply for the E-Voucher via SME Corp's website http://gst-evoucher.smecorp.gov.my/eng/index.html

Step3

Get your GST Compliant Software

Call 03-91722228 or email to us for more information.

Important considerations

· The number of E-Vouchers provided is limited to the fund size, therefore it is on a first-come, first-serve basis.

For upgrading software & new purchase; please call 03-91722228. For more detail please visit www.vivid.com.my