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bigduckontax, Accountant
Category: Tax
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Online transfer from my offshore account in an UK Bank to my

Customer Question

Online transfer from my offshore account in an UK Bank to my bank account in Kuala Lumpur, Malaysia. Is there VAT commission to be paid?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I am Keith, one of the Experts on Just Answer, and pleased to be able to help you with your question. As far as the UK is concerned no, banking is an exempt activity within the VAT regime. Malaysian GST [their VAT] is modeled on the Singapore equivalent [with a few add ons]. Bank transfers appear exempt from GST I do hope my reply has been of assistance.
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Expert:  bigduckontax replied 2 years ago.

Thank you for your excellent support.