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.
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