500 companies have registered for GST in Sabah

KOTA KINABALU: More than 5,200 companies in Sabah have registered with the Royal Malaysian Customs Department for the Goods and Services Tax (GST). The number has surpassed the Sabah Royal Malaysian Customs Department's Key Performance Indicators, its Director Datuk Dr Janathan Kandok said.

"The department is currently guiding about 3,000 registrants throughout the State on the GST," he told reporters after opening the 13th annual general meeting of the Sabah Customs Women Association, here, Wednesday.

He said GST briefings would also be conducted for manufacturers and factory operators.

The GST at six per cent will be implemented from April 1, 2015 to replace the sales and service tax which is at 10 per cent and six per cent, respectively.

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Sabah revenue hits RM6.97 billion: Hajiji says GRS State Government may see full term

Kota Kinabalu: The Sabah Government continued its momentum in managing the economy in line with the commitment and spirit of the Sabah Maju Jaya (SMJ) when it posted record high state revenue of RM6.973 billion last year.

As of Oct 28, the number of companies in the country that have registered for the GST stood at 110,122, an increase of 2,611 from the previous day, said the Royal Malaysian Customs Department.

In a statement, the department said the latest data showed a continuing increase in the number of companies registering for the GST, with the Dec 31 deadline in mind.

The Government has set a target of 140,000 companies to register under the new tax structure, set for implementation on April 1, 2015.

Meanwhile, in KUALA LUMPUR, Deputy Finance Minister Datuk Chua Tee Yong said the Finance Ministry plans to set up a committee comprising the country's retailers associations to help with the implementation of the Goods and Services Tax on April 1 next year.

He said the committee would help sundry shop operators determine which goods they sell are affected by the GST.

"They sell various goods, so the committee will come up with a list of items affected by the GST," he said, without disclosing when the committee would be set up.

He was speaking to reporters after meeting Malaysia Singapore Coffee Shop Proprietors' General Association president Ho Su Mong and Canadian Convenience Stores Association President Alex Schollen, Wednesday.

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Canada implemented a GST regime in 1991 at 7.0 per cent, but after 17 years the rate was lowered to 5.0 per cent.

Chua said Schollen told him many Canadian consumers were confused about which items were affected by the GST when it was first introduced.

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