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Customs targets up to RM42b GST collection in 2017

Bernama  |  Published:  |  Modified:

The Royal Malaysian Customs Department (RMCD) targets to collect between RM40 billion and RM42 billion in Goods and Services Tax (GST) this year compared with RM41.2 billion in 2016, said its director-general Khazali Ahmad.

He said the department would continue with its programmes to engage the people especially traders to ensure they understand the tax regime further.

"The new taxation has been implemented for one year and 10 months and we want to educate them to be more knowledgeable on GST.

"However, during its implementation, RMCD has seen vestiges of success to spur us to continue implementing it more successfully," he said to reporters after the 1Malaysia Customs Charity Cycling programme in Putrajaya today.

At the RMCD level, Khazali said reforms had also been undertaken including implementing the Custom Blue Ocean Strategy involving all units so as to improve the corporate governance of the GST system.

To date, there were about 431,000 companies registered under the GST tax system and the department would continue with its efforts to detect companies that were eligible for registration, especially online businesses, he said.

"RMCD has not identified the number of online companies in Malaysia but we believe there are many that have not registered with us," he said.

"Customs will continue to detect the online businesses that have a threshold value of RM500,000 either offline or online as they are all subject to the GST taxation," he said.

- Bernama

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