NEWS 1 : APPLICATION OF TAX DEDUCTION FACILITIES (FORMERLY KNOWN AS CREDIT SYSTEM)

In accordance with the amendment of the Sales Tax Act 2018 with the addition of Section 41A – Deduction Of Sales Tax through the Finance Act 2018, deduction of tax or formerly known as a credit system may be applied by a registered manufacturer with effect from 1 Jan 2019 through the following steps but subject to the stipulated conditions:

1. REGISTRATION: Apply as a tax deduction user through MySST system. Approval is given automatically. The tax deduction facility is only granted from the effective date of the tax deduction letter. Refer to the user manual through this link. 

2. DEDUCTION BY TAXABLE PERIOD: DEDUCTION BY TAXABLE PERIOD: Enter the purchase information according to the taxable period before submitting the SST-02 statement. The system will make a tax deduction on the SST-02 return through an approved tax deduction amount. This application link has not been activated for now and will be activated soon.