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Industry Guide:

Share Issuing House & Share Registrar

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1. I am a share issuing house and share registrar. Am I required to be registered? 

Yes, you are required to be registered if your company’s annual taxable turnover has exceeded the prescribed threshold. 

Input tax recovery 

2. My company receives two types of income, i.e. issuing house fee and brokerage commissions and incurred GST on my expenses. Can I claim GST incurred on my expenses?

You can claim GST incurred on your expenses as your input tax provided that the inputs are used for making taxable supplies.

3. Since I have purchased office stationeries in bulk early for the purpose of using it for the whole year from a company ‘ABC’, can I claim all the input tax involved immediately?  

Yes, you can claim all the input tax immediately if the tax invoice been issued immediately after the purchase.

4. If the tax invoice is issued by the company ‘ABC’ to us at a quarterly period, how do I claim the input tax credit? 

You have to claim your input tax credit according to the tax invoice received.

5. I could not use all the stationeries within the year of my taxable period, so I will use it for the new taxable period in a new year. What will happen to my input tax credit that I have deducted? Will I have to pay back to the government?  

No, you do not have to pay back. You can use the excess stationeries for the new taxable year. In the new year, you should not make any claim as an input tax on those stationeries because you have previously accounted the claim in your GST returns.

6. After a period of three months, I still could not receive any payment from my client, so I have to account the unpaid dues as bad debt, whereas as a registered person I have paid earlier the GST to the government according to tax invoice I issued. Can I claim my GST?  

Yes, you can claim your GST from the government in full but you have to meet several bad debt relief requirements before your claim is to be paid.

7. After I have claimed the GST due to the unpaid account (bad debt allowance), one of my clients returns and pays all the debts plus GST? Do I have to pay GST back to the government?  

Yes, you have to account for output tax on the amount that has been claimed.

Fees and Brokerage Commission  

8. I charge my client issuing house fee for my services. What is the GST treatment on my issuing house services?

The issuing house services will be subject to GST at standard rate.

9. During the interim period from opening date to balloting date, I receive IPO proceeds and deposit the proceeds in a bank account. I earn interest which I subsequently release to the issuer. What is the GST treatment on the interest earned?   

The interest earned which is released to the Issuer is not subject to GST.

10. I receive share applications forms bearing official stamp of the brokerage houses, ESA from banks and application forms printed in the media. Upon successful balloting, I disburse brokerage commissions to the respective brokerage houses, banks and the media. What is the GST treatment on brokerage commission disbursed?  

When you disburse the brokerage commission, you are required to issue a self billing invoice (tax invoice) to the respective brokerage houses, banks and the media. In the self billed invoice, the brokerage commission will be charged GST at standard rate.

11. Some of the successful share application forms bear my official stamp for which I will receive brokerage commission from the Offeror. Is my brokerage commission subject to GST?  

Your brokerage commission is subject to GST at standard rate. 
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L & Co Plt.

18A & 20, Jalan Sasa 2, Taman Gaya, 81800 Ulu Tiram, Johor, Malaysia.
Tel +607-859 0410
Fax +607-863 1003
S1-3, 1-21-01, Suntech @ Penang Cybercity (1575), Lintang Mayang Pasir 3, 11950 Bayan Baru, Penang, Malaysia
Tel +604-377 7075
Fax +604-619 2699

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ICT Automation (M) Sdn Bhd
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