Installing a point-of-sale (POS) system to issue printed receipts as part of implementing the goods and services tax (GST) will only be a one-time investment, the Malaysian Customs Department’s GST division told operators of small businesses on Thursday.
GST division director Datuk T. Subromaniam said the system will be usable for a long-term basis and would help businesses identify standard and zero-rated items, adding that adopting POS would cost between MYR3,000 (USD828) and MYR4,000.
He also said tax deductions were available under Accelerated Capital Allowance (ACA) for businesses on purchases of information communication technology equipment, hardware and training.