BUKIT MERTAJAM — April 15, 2015: A total of 4,364 companies face a compound of RM15,000 for not registering for the Goods and Services Tax (GST) with Customs.
The companies which have an annual turnover of over RM500,000 each would be charged if they fail to pay the fine.
“We’ve given businesses ample time by extending the closing date of the registration from last December 31 to February 28. Until the deadline, 370,558 companies had registered.
“We’ve been too lenient on businesses as they do not have to pay anything to register and they can even do it online,” Deputy Finance Minister Datuk Ahmad Maslan said after giving a briefing on the GST here today.
Ahmad described the GST as the biggest change in the history of Malaysia’s tax system and would take time before it is finally understood by all.
Until yesterday, Customs had received 3,281 complaints from the public and opened 13 investigation papers on serious allegations.
More than 3,000 Customs personnel had been deployed in the country in the first two weeks of the GST implementation from April 1 to monitor the situation. – Bernama