GST

KUALA LUMPUR – The Customs Department has issued compounds of RM15,000 to 100 companies for failing to register for the Goods and Services Tax (GST) by the Feb 28 deadline.

The compounds came in the wake of a crackdown yesterday by the department in Johor, Kedah, Kelantan and Terengganu.

Companies with an income threshold of RM500,00 had [...]

KUALA LUMPUR – The maintenance fees for residential stratified properties, namely people housing projects, apartments and condominiums will be exempted from the Goods and Services Tax (GST), Deputy Finance Minister Datuk Ahmad Maslan said.

He said the GST was supposed to be imposed on maintenance fees for residential stratified properties, but after deliberations, the government had [...]

Only 380 out of 5,000 eligible cooperatives have registered for the Goods and Services Tax (GST), Cooperative Commission of Malaysia (SKM) executive chairman Datuk Nik Ali Mat Yunus said.

He said SKM would intensify efforts to raise awareness to ensure that it would meet its target of getting all eligible cooperatives to register before the GST [...]

The restriction on businesses against raising their profit margin upon the Goods and Services Tax (GST) implementation has received mixed response from industries which felt that the government should instead monitor the prices closely from the initial supply chain.

Royal Malaysian Customs Department GST Director Datuk Subromaniam Tholasy was reported as saying that traders should not [...]

Penghulus (village headmen) have been urged to work with enforcement officers from the Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) to check indiscriminate hiking of price of goods.

Its Deputy Minister Datuk Seri Ahmad Bashah Mohd Hanipah said this was because the more-than 750 headmen in the country who had been appointed as assistant KPDNKK [...]

The Goods and Services Tax (GST) which will be implemented on April 1, will not burden the people, says Royal Malaysian Customs GST director Datuk Subramaniam Tholasy.

He said the GST model in Malaysia was based on studies of the GST system in more than 160 countries which had already implemented it.

“If we look at [...]

The government is considering a proposal to include an additional letter ‘Z’ (signifying ‘zero-rated’) to the bar code on items from the pharmaceutical industry in order to facilitate the implementation of the Goods and Services Tax (GST) on April 1.

Deputy Finance Minister Datuk Chua Tee Yong said as the industry has over 3,000 zero-rated GST [...]

The implementation of the Goods and Services Tax (GST) should not be made into political capital as it was a transparent tax system meant to increase national income.

The Pahang Malay Chambers of Commerce and Industry president Datuk Abdul Rahman Daud said the new tax collection is better understood as it is based on the principle [...]

The government today introduced a handbook on the list of taxable and non-taxable goods for sundry goods specifically for traders in preparation for the Goods and Services Tax (GST) on April 1.

Deputy Finance Minister Datuk Chua Tee Yong said the book, jointly published by the Royal Malaysian Customs Department and the Finance Ministry, listed 1,800 [...]

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) does not expect the government to delay the implementation of the Goods and Services Tax (GST) on April 1, despite the changes in the economy and catastrophe that has occurred in the country.

Its Deputy President Datuk Ter Leong Yap said postponing the GST would [...]

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