Preparing for SST 8% Service Tax Code

This support note is suitable for:

• ABSS Accounting v30
• ABSS Premier v30

Introduction

The Malaysia Services Tax (SST) will be increased to 8%, effective 1 March 2024.

After upgrading your company file to Premier v30/ Accounting v30:

• You can import the new tax code your business needs from sample file (Clearwater file) or create a new 8% tax code yourself from the Tax Code List.
• Note:  If you created new company, you can be skip this step.

How to export SST tax codes from sample data file:

1. Double-click the ABSS Premier v30 /Accounting v30 Icon.
2. Click "Explore the sample company" to open your Clearwater file.
3. Go to File > Export data > Tax code list > Non-Consolidated Code >
4. Click Continue > Match All > Export
5. Open the exported text file using Notepad
6. Important: Delete unwanted tax code rows, keeping only the first row, the new tax code row, and the new 8% tax code row applicable to you.
7. Recommendation: Save the file as NONCONTAXCODE.TXT on your desktop.

     

How to import new tax codes to your company data file:

1. Double-click the ABSS Premier v30 /Accounting v30 Icon.
2. Open your company file.
3. Go to File > Import Data > Tax Code List > Non-Consolidated Code >
4. Click Continue > Match All > Import.
5. The new tax code should now appear in your tax code list.