For the past few weeks, there has been a flurry of activity… businesses sorting out their accounts, repricing services or goods, consumers mass purchasing groceries… all because of the GST that will be implemented by the Malaysian government this 1st April. I must say, I too was caught up in this whole hype (or dread, to some!)… I bought some new dining chairs for my home, after procrastinating for years!
What is GST?
As explained on the official Malaysian GST website…GST (Goods & Services Tax), which is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services.
In Malaysia, we are now charged 6% GST on top of the services rendered or goods purchased. To put things into perspective, there are many countries all over the world who have been charging GST for years. Let’s see… Singapore (7%), Australia (10%), Indonesia (10%), UK (20%!!!).
Source: http://www.vatlive.com/vat-rates/international-vat-and-gst-rates/
How does GST affect my booking with Stories?
The mother company that runs Stories, Integricity Visuals Sdn Bhd is a GST registered company. If you are interested to find out GST information about our company, please click here.
So, to keep it simple, if you make a booking with us at Stories, you will be charged GST if:
1. You are residing in Malaysia, and the shoot is done within Malaysia or overseas.
2. You are residing overseas, but the shoot is done within Malaysia.
GST will not be charged to you if:
1. You are residing overseas, and the shoot is done overseas.
Hope that clarifies! As a note, we did not raise the price for any of our services. We look forward to having a good year with you!
