Inti International University & Colleges upgrade to Sage 300 ERP 2012 for Malaysia GST compliances.
Press Release: 5 May 2014
The upcoming proposed 6% Goods and Service Tax (GST) will
equally apply to Inti Group from April 1, 2015 as Parliament approves the GST bill
which was debated in the March/April 2014 session.
Realizing
that early preparation is very important since April 1, 2015 date will soon be
here, INTI International University and INTI International
Colleges (A part Laureate International Universities network) has taken the early
steps in upgrading to Sage 300 ERP v. 2012. This version is accredited by the
Royal Customs of Malaysia.
According
to its spokesman, we have done the following in early preparation for the
GST as we are a large organization. We believe early preparation is the key to
a smooth transition and operation for the entire Inti Group.
In
Phase 1, we upgrade our software to the GST compliance version of Sage 300 ERP v.
2012 for Software readiness. We will
do the necessary hardware and installation and data migration to the Sage 300
ERP v. 2012.
In the 2nd Phase we will engage CareWare’s CTIM (Charted Tax Institute of Malaysia) certified consultants to implement, set-up and customized any specific forms & reports to support our GST submission. This will includes both local and overseas transactions involving goods, services and financial & intellectual property transactions. It will be important to classify on the output side (ie. sale/revenue) all the supplies into standard or zero rated or out of scope or exempt supplies as each has different implications. The exempt and out of scope supplies are not taxable supplies but the zero rated supply is a taxable supply without GST. On the input side (ie. acquisition), the key issue is whether the input tax can be recovered.
In the 2nd Phase we will engage CareWare’s CTIM (Charted Tax Institute of Malaysia) certified consultants to implement, set-up and customized any specific forms & reports to support our GST submission. This will includes both local and overseas transactions involving goods, services and financial & intellectual property transactions. It will be important to classify on the output side (ie. sale/revenue) all the supplies into standard or zero rated or out of scope or exempt supplies as each has different implications. The exempt and out of scope supplies are not taxable supplies but the zero rated supply is a taxable supply without GST. On the input side (ie. acquisition), the key issue is whether the input tax can be recovered.
We have for now a total of eighty three (83>)
concurrent users and two hundred
(200) names users from its Subang Jaya Campus, and remotely access from all colleges/schools will log-in via internet (Private
Cloud) from remote sites to its central locations.
Sage 300 ERP enabled a seamless process and interaction
between back office finance, operation and purchasing that is greatly enhance, with
Sage 300 ERP 2012 for a centralized solution that would enable integration within
and between the different educations business units.
About CareWare Systems
Through its partnership with Sage, CareWare Systems helps small and mid-size companies in Malaysia reach productivity levels at the top of their respective industries. CareWare represents a variety of business management software including Sage 300 ERP, SageCRM, and Sage 300 Manufacturing Software. For companies interested in growth, profitability and superior software support, CareWare is the Sage business partner for you. For more information, please visit our website: http://www.careware.com.my/.
About CareWare Systems
Through its partnership with Sage, CareWare Systems helps small and mid-size companies in Malaysia reach productivity levels at the top of their respective industries. CareWare represents a variety of business management software including Sage 300 ERP, SageCRM, and Sage 300 Manufacturing Software. For companies interested in growth, profitability and superior software support, CareWare is the Sage business partner for you. For more information, please visit our website: http://www.careware.com.my/.
This blog news is for
informational purposes only. CAREWARE & SAGE MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, IN THIS SUMMARY.
