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Companies Implementing GST Next Year Urged To Register Quickly
Datuk Ahmad Mazlan handing over the hearse vehicleJOHOR BAHARU, July 15 (Bernama) -- Companies implementing the Goods and Services Tax (GST) in April next year have been urged to register quickly.
This, according to Deputy Finance Minister Datuk Ahmad Maslan, is to enable them to be eligible to levy the new tax and collect it from their customers.
He said companies with an annual income of more than RM500,000 should register alongside those currently implementing the existing sales and services tax (SST).
"The number of companies already registered with the Royal Malaysian Customs Department is very small," he told reporters in Johor Baharu, on Monday night after a ceremony to hand over a hearse and breaking the fast at the Menara Kastam Johor.
According to Ahmad, the GST registration began last month, but with the number of those having done so being small, he urged companies not to wait till the last minute to undertake the process.
The Finance Ministry is aiming for 250,000 companies to register to implement the GST.
He said the MyGST system is now fully operational and will be managed by the Customs Department to oversee the GST implementation.
The system will also be connected to the Companies Commission of Malaysia (CCM).
He called upon customs officers to be proactive in meeting the companies concerned to get them to register.
"This will help increase the number of registrations apart from meeting the target," he added.
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