MYOB Singapore version is GST compliant

If you are looking for a GST-ready software to prepare yourselves for the introduction of GST in Malaysia, then you should consider MYOB software.

The reason being, their Singapore version of MYOB software (MYOB Premier v12.3, and MYOB Premier Plus v 12.3) are already compliant with the GST rulings under Singapore Inland Revenue Authority of Singapore (IRAS).  See the IRAS website for the confirmation that MYOB is GST-compliant.

This means that the MYOB Singapore software is complaint with the requirements set out in the Singapore IRAS e-Tax Guide.  In addition, the MYOB Singapore version has additional GST reports to help the users complete the Singapore GST submission through e-filing.

If the Malaysian GST system is modelled after Singapore (or Australia and New Zealand) , then it will be a 'piece of cake' for the Malaysian MYOB software version to be transformed  from GST-ready to GST-compliant.  (Note : MYOB software is a serious software player in Australia, New Zealand and Singapore)

The MYOB version that is being currently distributed in Malaysia is Premier v12.2, which is 1 version behind the Singapore version. 

In order for the MYOB software (Malaysian version) to be GST compliant, it will need to wait for the Malaysian Government to come out with its own set of GST guidelines, and e-filing reports, and inlcude the reports in the MYOB software.

This GST logo can be found on official MYOB documents.

Tourist refund scheme to be introduced

In a GST environment, tourists who have been subjected to GST on their purchases while holidaying in Malaysia are entitled to a refund of the GST paid. 

The Malaysian goverment is going to introduce a tourist refund scheme, and details are being worked out on the appointment of tourist refund agents, approved outlets, and quantum of refund.

 

Public relations firm to promote GST in Malaysia

The Malaysian Government will appoint a public relations firm to help it conduct more  programmes to increase awareness of GST in Malaysia. 

In the next few months, we will hear a jingle about GST.  There will also be more roadshows, television talks, and billboards on the impending GST introduction.

So far, there have been 2,000 awareness programmes organised by the Ministry of Finance, SME Corp, and Federation of Malaysian Manufacturers (FMM).