eKTP 8

Latest GST ruling on partnership

(Read it even your partnership taxable supply below RM500,000.00!)

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Subsequent to the revision of the Guide on Registration published on 13/01/2016, a partnership is required to register for GST even the taxable supply of a business is below RM500,000.00 following the below 3 criteria:

  1. Partnership of the same partners/persons,

  2. Partnership of the same firm name, and

  3. Partnership of the business nature.

The taxable turnovers of all partnership businesses need to be combined for

The calculation of the total taxable turnover reach the prescribed threshold of RM500,000.00; and

Whether a partnership is required to be registered under a single or separate registration number.

 

Please refer below link at page 24 on item 51 to 54 for further details and example illustrated in the guide

Link →