KOTA KINABALU: The Goods and Services Tax (GST) will be implemented on April 1 next year as scheduled, said Deputy Finance Minister Datuk Ahmad Maslan.
He reminded operators of businesses with an annual turnover of at least RM500,000 that they should no longer wait to register for GST.
“Those involved have all the information they need at their fingertips. They cannot say that they do not know about the GST or how to go about it,” Ahmad said after attending the third annual civil servant meeting here yesterday.
He added the Government had no reason to delay the implementation of GST as any hold-up would cause hiccups in the taxation system.
“So I advice those involved to register as soon as possible before Dec 31,” he said.
According to the Customs Department, more than 10,000 out of 300,000 businesses that are potentially liable for the Goods and Services Tax (GST) have registered with the department.
However, Customs director-general Datuk Seri Khazali Ahmad said the number was still low as it only represented 9.1% of establishments with revenues of RM500,000 and above.
“As the deadline to sign up is Dec 31, I strongly urge businesses to register as soon as possible so that we can give them more explanation on the implementation of GST,” he told a press conference after launching Ops Pacak here yesterday.
He added that registering early would enable business owners to apply for a GST e-voucher from SME Corp worth RM1,000 and a “hand-holding” workshop that would give further information on cash-flow management under a GST regime.
“The department will conduct a hand-holding programme in October to provide registrants with a detailed explanation,” said Khazali, who added that the department would deploy hundreds of personnel to reach out to eligible businesses.
Did you find this article insightful?