Post by: Cocas on July 16, 2018, 04:16:26 PM
Post by: engkow on July 16, 2018, 05:22:18 PM
Post by: Cocas on July 16, 2018, 05:39:08 PM
Post by: tim.thavi on July 16, 2018, 06:01:20 PM
I guess the 'sevices' is the same but how is watch treated differently under 'goods' and 'sales'?
Post by: Cocas on July 21, 2018, 10:49:53 AM
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
Post by: tim.thavi on July 21, 2018, 11:04:59 AM
http://www.customs.gov.my/en/_layouts/15/customapplication/AnnouncementsDetails.aspx?ID=309
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
I'm bad at reading any official document. So I suppose 10% SST will be applicable to watch?
Post by: Cocas on July 21, 2018, 11:08:09 AM
http://www.customs.gov.my/en/_layouts/15/customapplication/AnnouncementsDetails.aspx?ID=309
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
I'm bad at reading any official document. So I suppose 10% SST will be applicable to watch?
Almost all watches are imported in Malaysia, so 10% Sales Tax will be imposed and price increase for new and preowned piece is inevitable.
Post by: flatcap200 on July 24, 2018, 09:21:39 PM
In fact under the old regime just prior to gst, watches & cameras were apparently exempted.
Need to wait for the new law to be sure.
Post by: meoramri on July 25, 2018, 11:11:54 AM
Checked the old legislation & found that watches were not listed under the taxable goods schedules.
In fact under the old regime just prior to gst, watches & cameras were apparently exempted.
Need to wait for the new law to be sure.
Correct, both items are not subjected to import tax. However, still subjected to GST. SST should be similar. Question is will the 10% be passed directly to end consumers? We have to wait for more clarity to gauge the possible impact. Either way, assume the worst and get all your watch shopping before the deadline
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Post by: downsouth on July 25, 2018, 08:40:36 PM
Dumb question but whats the diff between GST and SST?GST (6%) is a tax at every level of the sales process.
I guess the 'sevices' is the same but how is watch treated differently under 'goods' and 'sales'?
1. If a manufacturer sell a product at RM 10.00 the the GST will be RM 0.60, making the cost to distributor RM 10.60 and if the distributor decided to make RM 1.00 profit then the GST will be RM RM 0.06, making the total cost to retailer RM 11.66 and if the retailer decided to make RM 1.00 profit then an additional GST of RM 0.06 will be levied, making total cost to consumers RM 12.72
SST (the sales tax part) on the other hand work like this:
2. If a manufacturer sell a product at RM 10.00 the SST will be RM 1.00, making the cost to distributor RM 11.00 but if the distributor and retailer each decided to make RM 1.00 profit each, they will no longer be levied any Sales Tax making the total cost to consumers RM 13.00
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Post by: tbgreen on July 27, 2018, 11:39:01 AM
Post by: tayman on July 27, 2018, 01:57:19 PM
Post by: downsouth on July 27, 2018, 08:05:50 PM
On the other hand, if the distributors and retailer are making a bigger margin the calculation will favour SST over GST (to the consumers):Dumb question but whats the diff between GST and SST?GST (6%) is a tax at every level of the sales process.
I guess the 'sevices' is the same but how is watch treated differently under 'goods' and 'sales'?
1. If a manufacturer sell a product at RM 10.00 the the GST will be RM 0.60, making the cost to distributor RM 10.60 and if the distributor decided to make RM 1.00 profit then the GST will be RM RM 0.06, making the total cost to retailer RM 11.66 and if the retailer decided to make RM 1.00 profit then an additional GST of RM 0.06 will be levied, making total cost to consumers RM 12.72
SST (the sales tax part) on the other hand work like this:
2. If a manufacturer sell a product at RM 10.00 the SST will be RM 1.00, making the cost to distributor RM 11.00 but if the distributor and retailer each decided to make RM 1.00 profit each, they will no longer be levied any Sales Tax making the total cost to consumers RM 13.00
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1. Manufacturer sells RM 10 + GST RM 0.60, and distributors and retailers adding RM 10 profit + GST RM 0.60, making the price consumers pay = RM 21.20
2. If it is an SST then, Manufacturer sells RM 10 + SST RM 1, and distributors and retailers adding RM 10 profit, making the price consumers pay = RM 21.00
Hence, if the total added value at the next value chain is big, the SST is better for consumers. If the total value added at the next value chain is low, the GST is better. Having said that, a manufacturer can establish a separate trading company and transfer the pricing down the value chain to lower its SST.
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Post by: flatcap200 on July 30, 2018, 09:21:41 AM
Bottom line is there is a strong likelihood prices (of our beloved timepieces) will rise. Will they go through the roof as happened during the GST era? Probably not...but the best way IMO is to review the draft legislation. That way, we'll know for sure.
To buy now may be a hasty act and make us fodder for the retailers :'(
Unless of course we're in it simply to justify our pent up purchasing decisions ;)
Post by: dstudio10 on July 30, 2018, 12:16:24 PM
Post by: flatcap200 on July 30, 2018, 01:49:53 PM
Post by: ethan89 on July 31, 2018, 09:50:56 AM
Stocks upon waiting list will be arrive after Oct.
Post by: flatcap200 on July 31, 2018, 09:59:47 AM
Visited Audemars Piguet (AP) boutique yesterday, confirmed price will be increase after SST being implement, either 8% or 10%.
Stocks upon waiting list will be arrive after Oct.
If watches end up being exempted under the yet-to-be gazetted law such an increase will be plain and simple profiteering. Be careful not to end up being fodder for sales folk ;)
Post by: irmavep23 on August 01, 2018, 12:13:11 PM
Post by: flatcap200 on August 01, 2018, 02:05:48 PM
Post by: Cocas on August 01, 2018, 04:46:06 PM
http://www.customs.gov.my/en/_layouts/15/customapplication/AnnouncementsDetails.aspx?ID=309
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
Mission accomplished :thumbsup:
Post by: tim.thavi on August 02, 2018, 11:40:21 AM
http://www.customs.gov.my/en/_layouts/15/customapplication/AnnouncementsDetails.aspx?ID=309
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
Mission accomplished :thumbsup:
Congrats!
Post by: Cocas on August 05, 2018, 05:49:20 PM
http://www.customs.gov.my/en/_layouts/15/customapplication/AnnouncementsDetails.aspx?ID=309
Oh no! Announcement on 19-July.
I will be better to get a Rolex for my wife now. :Startled:
Mission accomplished :thumbsup:
Congrats!
Thanks.
Post by: aiman04 on September 03, 2018, 01:42:06 PM
Anyone already has experience being imposed SST on imported watch yet?
Post by: J.Tan on September 03, 2018, 01:56:03 PM
Post by: forniter on September 03, 2018, 02:40:59 PM
Post by: ggprime on September 05, 2018, 04:44:40 PM
Hey guys, new here. I purchased a watch from Lazada on 31st August but they shipped it from overseas. I guess SST is imposed on date of arrival, not date of purchase right?
Anyone already has experience being imposed SST on imported watch yet?
if this is shipped for personal, i wont think get sales tax
Post by: aiman04 on September 06, 2018, 05:41:27 AM
Hey guys, new here. I purchased a watch from Lazada on 31st August but they shipped it from overseas. I guess SST is imposed on date of arrival, not date of purchase right?
Anyone already has experience being imposed SST on imported watch yet?
if this is shipped for personal, i wont think get sales tax
Thanks! That makes sense, SST is different than GST which is imposed to the end customer.
Post by: dommie85 on September 06, 2018, 07:44:49 AM
last heard SST reduced to 6% for watches. Wonder if it is true.
I did hear a few people saying that watch prices increased by 6%.. so probably true
Post by: Danielo on September 06, 2018, 08:16:31 AM
???
Post by: D'Andy on September 06, 2018, 09:34:57 AM
Post by: hihihehe on September 06, 2018, 11:14:49 AM
not sure about the current price now
Post by: Sterimar on September 27, 2018, 11:12:10 AM
last heard SST reduced to 6% for watches. Wonder if it is true.
SST for watches and clocks has been reduced to 5% after appeal.
https://malaysiawatchtradeassociation.com/malaysia-sales-and-services-tax-sst/
https://www.thestar.com.my/news/nation/2018/09/26/finance-ministry-cigarettes-and-tobacco-sold-in-restaurants-are-now-sst-exempt/
Post by: aiman04 on September 27, 2018, 01:11:47 PM
Post by: flyingtoast on October 08, 2018, 12:59:25 PM
I ordered a watch from Singapore last week, delivered the next day by Fedex without any tax.I think you just have to pay for shipping for this case. No tax required as it’s not passed through any retailers.
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Post by: meoramri on October 09, 2018, 05:29:42 PM
It seems customs generally inspect packaged with value >RM500.
Anyway, SST rate is 5%.
Post by: meoramri on October 11, 2018, 10:03:59 AM
(https://uploads.tapatalk-cdn.com/20181011/92d570e580b78b018a6ab670ca911972.jpg)
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Post by: ethan89 on October 11, 2018, 01:25:46 PM
... i stand corrected. Based on the banner, packages >RM1k will be withheldHi meoramri, just currently bumped into your blog and you have lots of experiences buying JDM watches from oversea website like seiyajapan, Gnomon, etc. Which one would you recommend for the best overall service? Your blog poisoned me a lot and I would like to add some JDM watches into my collection as well. Thanks.
(https://uploads.tapatalk-cdn.com/20181011/92d570e580b78b018a6ab670ca911972.jpg)
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Post by: meoramri on October 12, 2018, 12:13:22 PM
... i stand corrected. Based on the banner, packages >RM1k will be withheldHi meoramri, just currently bumped into your blog and you have lots of experiences buying JDM watches from oversea website like seiyajapan, Gnomon, etc. Which one would you recommend for the best overall service? Your blog poisoned me a lot and I would like to add some JDM watches into my collection as well. Thanks.
(https://uploads.tapatalk-cdn.com/20181011/92d570e580b78b018a6ab670ca911972.jpg)
Sent from my iPhone using Tapatalk
Thanks for the kind words about my blog. I am happy to be able to share what I know about the hobby with fellow enthusiasts. I'll pm you...
Post by: ethan89 on October 12, 2018, 12:54:16 PM
... i stand corrected. Based on the banner, packages >RM1k will be withheldHi meoramri, just currently bumped into your blog and you have lots of experiences buying JDM watches from oversea website like seiyajapan, Gnomon, etc. Which one would you recommend for the best overall service? Your blog poisoned me a lot and I would like to add some JDM watches into my collection as well. Thanks.
(https://uploads.tapatalk-cdn.com/20181011/92d570e580b78b018a6ab670ca911972.jpg)
Sent from my iPhone using Tapatalk
Thanks for the kind words about my blog. I am happy to be able to share what I know about the hobby with fellow enthusiasts. I'll pm you...
Definitely looking forward to your PM. Thank you.