Foreign Currency Exchange Rate

The Taxable Person is required to use the selling rate of exchange prevailing in Malaysia as determined by Bank Negara Malaysia at the time the sale took place. [Regulation 2 & 18(k), State Sales Tax (Amendment) Regulations,2018].

Therefore, please use the Selling rate at 12 noon session for all the foreign currency at the date of invoice issued. Failing which the taxable person shall be liable to a penalty under Regulation 20 and 21 of SST Regulation 1998.