KUALA LUMPUR: The Royal Malaysian Customs Department is confident of surpassing its target of collecting Goods and Services Tax (GST) revenue of RM42bil this year.
Customs director-general Datuk Seri T. Subromaniam said this year's collection would surpass 2016's revenue of RM41bil.
"Based on the previous month's collection, it's more than what we collected last year.
"This year, we should exceed RM42bil," he told reporters at a press conference at the GST Conference 2017 Monday.
GST was implemented in Malaysia in April 2015.
Subromaniam also said the Customs Department is proposing to amend the GST Act to be able to efficiently tax the digital economy.
"By doing so, it will help boost the economy in the near future."
He said the Customs Department hopes to address the amendments at the next Parliamentary seating next month.
According to reports, Prime Minister Datuk Seri Najib Tun Razak has said the GST has helped halved Malaysia’s fiscal deficit from 6.7% in 2009 to 3.1% in 2016.
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