GOODS AND SERVICES TAX (“GST”) NOTICEAs announced by the Government, GST will be implemented on 1 April 2015. Pursuant to the requirements of the GST Act, 2014, Allianz companies in Malaysia have registered for GST.
Our GST registration numbers are:
- Allianz Malaysia Berhad: 000050921472
- Allianz General Insurance Company (Malaysia) Berhad: 000283779072
- Allianz Life Insurance Malaysia Berhad: 000428408832
GST is chargeable on taxable supplies provided from 1 April 2015 onwards. General insurance products which cover risks located in Malaysia and Life insurance products which cover personal accident, hospital and surgical insurance and critical illness without death benefit, are taxable supplies that will be subject to GST at the current prevailing rate of 6%. Fees and charges for investment linked/universal life policies are also taxable supplies.
Both Allianz General Insurance Company (Malaysia) Berhad and Allianz Life Insurance Malaysia Berhad reserves the right to collect from policyholders, for the policy period after 1 April 2015 onwards, or in the event that the policy period commences before but expires after 1 April 2015, an amount equivalent to the GST payable on the applicable premium calculated from 1 April 2015 onwards on a pro-rated basis.
The obligation to pay GST shall form part of the terms and conditions in the policyholders’ insurance policy.
Allianz General Insurance Company (Malaysia) Berhad