Malaysia SST Tax Codes
Tax codes determine how much tax is due for each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, you must ensure that the tax codes for Malaysia are set up correctly.
For more information on tax codes, see Tax Code Properties and Creating Tax Codes.
SST Tax Code Table for Malaysia
The following table shows the tax code properties required to correctly generate the Malaysia tax reports provided by the International Tax Reports SuiteApp and the Malaysia tax audit files provided by the Tax Audit Files SuiteApp. The tax code names and letters presented in the table are suggested names or default system preferences. You can rename the tax codes. Tax reports identify transactions by looking at the tax code properties, not the tax code names. The tax code names in the following table are suggested names. You can use your preferred tax code names.
On the Tax Code page, check the boxes of the properties that apply to the tax code. For more information about tax code properties, see Tax Code Properties.
|
Tax Code |
Description |
Rate |
Available On |
Property |
|---|---|---|---|---|
|
SLS-MY 5% |
Sales tax at 5% |
5% |
Sales |
|
|
SLS -MY 10% |
Sales tax at 10% |
10% |
Sales |
|
|
SLS -MY 0% |
Sales tax for exempted goods |
0% |
Sales |
Check Exempt |
|
SVC-MY 6% |
Service tax at fixed 6% |
6% |
Sales |
Check Applies to Service Items |