Symptom
As announced in Malaysia 2024 Budget, with effect from March 1, 2024, the service tax rate is raised from 6% to 8% for the taxable services and the scope of taxable services has been expanded to include four additional taxable services.
The following taxable services are the exceptions to the tax raise, which means that their tax rate will still be 6%.
- Food and beverage services
- Telecommunication services
- Vehicle parking space services
- Logistics services (prescribed as taxable service only from March 1st, 2024)
This note provides a guide to the adoption of this change in the current SAP solutions.
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Environment
SAP S/4HANA Cloud
SAP S/4HANA
Product
Keywords
SAP Document and Reporting Compliance, DRC, Malaysia, SST Report, Sales Tax, Low Value Goods, LVG-02, Service Tax, Tax Rate Change , KBA , FI-LOC-FI-MY , Malaysia , How To
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