The Malaysian Inland Revenue Board released updated guidelines, regarding the country’s upcoming e-invoicing requirements. These updates include detailed information on the phased implementation of mandatory e-invoicing, applicable to various categories of taxpayers.
Key points from the guidelines are as follows:
The guidelines also provide updated information on exemptions for certain taxpayers from the mandatory e-invoicing system.
These updates also include examples and frequently asked questions to help taxpayers navigate the new
Source: The Malaysian Inland Revenue
Country | Standard VAT/GST Rate | Reduced Rates |
Armenia | The standard VAT rate is 20%. | |
Azerbaijan | The standard VAT rate is 18%. | |
Bahrain | From January 1, 2022, the standard VAT rate is 10%. | |
Bangladesh | The standard VAT rate is 15%. | 10%, 7.5%, 5%, 2,4%, 2% |
Brunei | There is no VAT in Brunei. | |
China | The standard VAT rate is 13%, 9%, 6% | Reduced rates of 5%, 2%, 3%, 1.5% and 0.5%. |
UAE | VAT is charged at 5% in the United Arab Emirates (UAE) | |
Georgia | The standard VAT rate is 18% | |
Hong Kong | There is no VAT or sales tax in Hong Kong. | |
India | The primary rates of Indian GST are 0.25%, 1.5%, 3%, 5%, 12%, 18% and 28% | |
Indonesia | The standard VAT rate is 11% | |
Iraq | There is no VAT in Iraq. (The standard sales tax ranges from 10% to 300% on alcohol & tobacco) | |
Israel | The standard VAT rate is 17% | |
Japan | The standard (Consumption Tax) rate is 10% | 8% |
Kazakhstan | The standard rate of VAT is 12% | |
South Korea | The standard VAT rate is 10% | |
Kuwait | There is no VAT in Kuwait | |
Laos | The standard VAT rate is 10% | |
Lebanon | The standard VAT rate is 11% | |
Malaysia | On September 1, 2018, the Government of Malaysia replaced the Goods and Services Tax (GST) with a 10% Sales Tax (The standard rate of service tax is 8%) | 5% (Sales Tax), 6% |
Oman | the standard VAT rate in Oman is 5% | |
Pakistan | Pakistan does not have VAT. The standard sales tax rate is 18% | Pakistan has a large number of reduced sales tax rates, including 1%, 2%, 5%, 10% and 12% (among others). |
Philippines | The standard VAT rate is 12% | |
Qatar | There is no VAT in Qatar | |
Russia | The standard VAT rate is 20% | 10% |
Saudi Arabia | VAT is charged at 15% | |
Singapore | The standard Goods and Services Tax (GST) rate is 9% | |
Sri Lanka | The standard VAT rate is 18% | |
Taiwan | The standard VAT rate is 5% | |
Tajikistan | The standard VAT rate is 14% | 10%, 7%, 5% |
Thailand | The standard VAT rate is 7% (Reduced from the standard 10% until 30 September 2024) | |
Turkey | The standard VAT rate is 20% | 10%, 1% |
Uzbekistan | The standard VAT rate is 12% | |
Vietnam | The standard VAT rate is 8% | Reduced VAT rate is 5% |