Goods and service tax Malaysia guide for laymen/layman:- A3.To sole prop retailer

Dear Entrepreneur, please check that whether your yearly total turnover (sales) is achieving to an amount of RM500,000?  Or the total turnover from all sources of business (if you selling furniture, part-time distributing newspaper, repairing electrical equipment, providing renovation services & etc.) for last 12 months is more than RM500,000,  you are mandatory to be register.  

A late registration penalty of not more than twenty five percent will also be imposed on the unpaid tax due. If the person refused to be registered, he shall be liable to a fine not exceeding RM50,000 or to imprisonment for a term not exceeding three (3) years or to both.

RM500,000 is an amount that the monthly sales of RM41,000. Or in more physical thought, an average living cost may goes to RM40K a year, business profit margin is average on 30% of turnover. A cooper operating a business with one to two staff, they need a turnover of RM533,333 to survive (RM40K/30% x 4). 

Note: Thanks for your time spending with me to read on my thought, for continue reading, please refer to my topic E0. End topic: Actions you need to prepare for GST implementation. 

If you face any problem or issues either related to direct tax (income tax) or indirect tax (GST, import duty, sales tax, service tax & etc) you are most welcome to contact me. I would only charge my friend the mobilization fees (if necessary) base on the business size and time spend.