EMPOWERS MALAYSIA’S ACCOUNTANTS IN GST IMPLEMENTATION

 

Kuala Lumpur, August 28, 2014 – Sage Software Sdn Bhd, the leading supplier of  business management software for Small-Medium Industries (SMEs), believes that  accountants are key enablers to assist in Malaysia’s push towards Goods and  Services Tax (GST). At a seminar in Kuala Lumpur yesterday, Sage’s Managing  Director, Michael Cho attributed slower pick-up rate of company registrations for  GST due to the lack of awareness, understanding and urgency.
Speaking at the conference he said, “GST is a tax which is often misunderstood,  especially by SMEs. There is still a great need to educate the public on GST, its  consequences and impact on not just an individual business but also the supply  chain as a whole. The right approach and tools are available to help businesses  meet the 31 December 2014 registration deadline and thereafter, prepare for 
implementation of GST by April next year.” 

Sage is of the belief that the GST is an important national agenda. As a company  which provides the tools to assist businesses, particularly SMEs, Sage has targeted  accountants in its drive to educate businesses. As an occupation with the high  professionalism, and the important relationship with business owners, Sage sees  accountants as the key driver in the successful implementation and smooth adoption  of GST in businesses. 

 

With less than one year to the April 2015 deadline, Sage Software recognised the  increasing need to raise further awareness and educate on the far-reaching impacts  GST. “Ultimately the outcome of GST is better documentation and business  processes, which are positive fundamentals for any good business. As such, we  believe we can help accountants to further improve their engagement with their 
clients, especially where GST is concerned. The GST is an added component in  which accountants will need to factor in when dealing with clients,” explained Cho. In anticipation of the GST component in accounting, Sage Software has created new  business tools, which addresses the potential issues of both businesses and  accountants. Introducing the Sage Accountant’s Solution at the seminar, the latest 
solution is a more effective business model and tool for accountants by means of  bringing the client and the accountant closer and achieving collaboration, efficiency  and productivity gains by harnessing the use of the internet and proven Sage  products. Concepts of Co-sourcing were introduced and seen as a potential effective  model into the future.

 

The power-packed Sage Software seminar attracted over 300 Accountants and  featured key note speakers. Amongst them were the Royal Malaysia Customs  Director, GST, Dato’ Subromaniam Tholasy

and Petronas Head of Tax, 

Mr  Bhupinder Singh 
who shared insights into the impact of GST to businesses and the  accounting profession respectively.  For more information on Sage Software, visit www.sage.my or call the Sage Careline  at 1300 88 7243.