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China (Guangdong) - Malaysia Economic and Trade Cooperation Conference

 |  September 07, 2015  | Posted in Upcoming Events |  2 Comments  |  

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Hosted by the Department of Commerce of Guangdong Province, China, and organised by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), the 2015 “China (Guangdong) - Malaysia Economic and Trade Cooperation Conference” will be held on the following date, time and venue:  
 
Date:           21st September 2015 (Monday)
Time:          10.00 a.m. to 12.00 noon
Venue:        Sarawak Room, B2, Shangri-La Hotel Kuala Lumpur
                        11, Jalan Sultan Ismail, 50250 Kuala Lumpur.
 
The conference will be held in two parts. Part I are speeches by leaders of ACCCIM, Economic and Commercial Counsellor’s Office of the Embassy of the People’s Republic of China in Malaysia and Department of Commerce of Guangdong Province, China. Part II is Business Matching and Networking, and the industry sectors are Construction and Building Materials, Electrical & Electronics, and Textiles. About 30 Guangdong enterprises will participate at the Business Matching and Networking Session. The List of Business Delegation and their Line of Business.

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ACCCIM Survey Report on the GST Implementation in Malaysia

 |  August 24, 2015  | Posted in Surveys Questionnaires/ Reports |  Post a comment  |  

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Background of the Survey
 
Malaysia has implemented the Goods and Services Tax (GST) with effect from 1st April 2015. Since then, the business community and the public have been encountering with issues and problems. The objective of this GST Implementation Survey is to enable ACCCIM to collect and compile issues and problems faced by businesses for onward submission and deliberation with the relevant Government Ministries and Agencies so as to seek measures to resolve these issues.
 
 
Objectives of the Survey
 
1. To understand the impacts and challenges faced by Malaysian businesses arising from the implementation of GST and the enforcement of the Anti-Profiteering Act.
 
2. The survey results will provide the basis for ACCCIM in the submission of memoranda and related dialogue sessions with the Government and its related agencies. It will also be used as a reference for future events and action plans to be formulated by the ACCCIM.
 
Respondents Background
 
1. The survey was conducted during the period of 20th June 2015 to 31st July 2015.  A total of 2,000 survey questionnaires were distributed, with 963 returns received.  The response rate is 48.15%.   
 
2. The survey was conducted mainly through ACCCIM’s 17 constituent chambers located throughout Malaysia in 13 states and participated by other national level chambers of commerce, trade and sectorial organisations such as textile manufacturing, shopping malls, construction and building materials, sundry goods merchants, retailers, knitting manufacturing, hoteliers etc. The survey findings reflect the collective views of industries and businesses irrespective of ethnic group.
 
3. In term of  the geographical distribution of the responded entities, of which 30% are from Southern Region (Johor, Melaka), followed by Northern Region (Perlis, Kedah, Penang and Perak) and Central Region (Kuala Lumpur, Selangor & Negeri Sembilan) which contributed 27% and 26% respectively.
 

 

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ACCCIM Media Conference on Survey Report on the GST Implementation in Malaysia

 |  August 24, 2015  | Posted in President Speeches |  Post a comment  |  

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ACCCIM Media Conference on Survey Report on the GST Implementation in Malaysia
 
Speech by Datuk Ter Leong Yap, President of ACCCIM
 
2.30 p.m. 24-8-2015 (Monday) ACCCIM Conference Room
 
 
Good afternoon, 
My fellow colleagues of ACCCIM, 
Members of media,
A very warm welcome to all of you for attending today’s Press Conference.
 
The Goods and Services Tax (GST) has been implemented for nearly 5 months since its effect on 1st April 2015. In this early stage of implementation, different interpretations and arguments have arisen between the government, businesses and consumers on products and services that required to paying GST. To date, there are still a number of technical issues encountered by different industrial and business sectors, and are under clarifications with the Royal Malaysian Customs and the Ministry of Finance.
 
Although the government has repeatedly emphasizing that the implementation of GST will not add burden to the cost of doing business, however, cost are adding-up because the business community would require to purchase or set up GST compliance accounting software, appoint GST consultants, or even employ additional manpower to handle taxation. On top of that, businesses are required to pay GST before they can claim input tax from the government of which the company cash flow is adversely affected. The cash flow problem emerged when ACCCIM received numerous complaints from businesses that input tax refund were not credited to their accounts with delay of two to three months after the first submission of GST return. The business community are seeking help from the ACCCIM to urge the Royal Malaysian Customs to keep their promise as outlined in the GST Act that input tax refund will be done within 14 days for electronic submission, and 28 days for manual submission.
 

 

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