Malaysian Government Grant for GST approved accounting software

The Malaysian Prime Minister recently announced that application is opened for Malaysian SME’s to apply for software subsidy of Rm 1000.00.  The software subsidy is in the form of eVoucher.   The eVoucher of RM 1000.00 can be used by small and medium enterprises (SMEs) to purchase or upgrade GST-compliant accounting software from participating vendors.

MYOB Malaysia is a participating vendor for purposes of claiming the Rm1000 subsidy for purchase or  upgrade GST-compliant accounting software.  The latest version of MYOB software, MYOB Premier v`15 and MYOB Accounting v20, released in May 2014 is approved for GST subsidy purposes.


Perisian Perakaunan bersubsidi diluluskan oleh Kerajaan Malaysia. No Rujukan Kelulusan JKDM KE. HF (121) 426/05-29

Therefore we strongly urge all the Malaysian SME's to grab the opportunity to get a slice of the subsidy.
The total subsidy is Rm15million, which means only 150,000 companies will get the subsidy.


Here’s how you can get your Rm1000.00 software subsidy 

1. register for GST at MyGST  to get the GST Identification number
2. register with SMECORP to get the eVoucher
5. submit the voucher to the participating vendor ( www.pglbusiness-services.com )


Conditions for applying the grants

1.  fulfill conditions of SME definition
2. at least 51% equity owned by Malaysians
3. the company should not be listed on the Stock Exchange of Malaysia or other countries
4. the company should not be a subsidiary of a listed company, an MNC, or GLC     
 

New Definition of SME

With effect from June 2013, there is a new definition of SME, which is simplified as

Manufacturing sector
Sales turnover not exceeding RM50 million OR full-time employees not exceeding 200 workers

Services and other sectors:
Sales turnover not exceeding RM20 million OR full-time employees not exceeding 75 workers

Supporting documents for the GST financial subsidy

Supporting documents that need to be submitted to SME Corp. Malaysia for the purchase or upgrade of GST approved accounting software:

•  eVoucher
• Invoice
• Receipt
• Confirmation by SMEs 
• received deduction / discount of RM 1,000
• software has been installed and functioning
• attended the software training

Application is opened form June 1, 2014 to December 31, 2014.

Our company  PGL Business Consult  is an approved partner for MYOB Malaysia

MYOB Malaysia Accounting software is GST compliant

The MYOB South Asia team is officially approved as a vendor for Malaysia GST compliant accounting software for purposes of claiming the rebate from the Malaysian Government.  The approval was granted on 12 th March 2014.

Details of the rebate or grant is not out yet, and will be updated once we have details.

Two of the product release by MYOB Malaysia, namely MYOB Accounting v20, and MYOB Premier v15 have been subjected to vigorous testing by the Customs personnel.

The approved software is listed in this screenshot taken right after the lsit is first posted on the Customs website.  This list may change as more accounting software vendors are enlisted.  To get the latest and complete list, refer to the official GST wesbite  http://gst.customs.gov.my