Please be informed that Bank Negara Malaysia caution members of the public...

Realising that small and medium enterprises (SMEs) play a significant role in the economy, the Government has put in place various strategies and incentives to encourage SMEs to undertake high-value added activities such as innovation, design, and research & development (R&D).

Dear Valued Customers,

With effect from 1 April 2015, the Goods & Services Tax (GST) at the rate of 6% will be imposed to our fees and charges where applicable, in accordance to the Goods & Services Tax Act and related GST laws. The Bank has registered on 25 August 2014 with GST Registration No. 001136066560.

Kindly be informed that our relevant Facility Agreements / Terms and Conditions of the Facility / Service will be amended to incorporate the following GST Clauses:

Where Goods and Services Tax (“*the GST**”) is applicable to any services or provision of the financing provided by EXIM Bank under this Letter of Offer/Agreement, the Borrower shall pay to EXIM Bank, upon demand and on the basis of full indemnity, an amount constituting the applicable and prevailing rate of the GST chargeable. Payment by the borrower of the GST shall be an additional condition precedent to any disbursement or utilization of the Facility.*

The term “**the GST**” means any tax payable on the supply of goods, services or other things in accordance with the provisions of the GST Law and the term “GST Law” means the Goods and Services Tax Act 2014, subsidiary legislations, statutory orders and regulations governing the application of GST, as amended from time to time.

We thank you for your continuous support and should you require more information on GST, please refer to the links below or visit the Royal Malaysian Customs Department website at www.gst.customs.gov.my 

Issued by: SME Corp. Malaysia Secretariat to the National SME Development Council

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