Action on dodging firms begins; RM1.2b target in Sabah revenue from GST: Customs
Published on: Tuesday, March 03, 2015
Kota Kinabalu: A special all-out operation called Ops GST has been launched by the Customs Department to trace companies which failed to register for the Goods and Services Tax (GST) before the Feb. 28 deadline. State Customs Director Datuk Dr Janathan Kandok (pic) said these companies would be compounded RM15,000 and registered according to the existing procedure. Those who fail to settle the compound within two weeks can be fined up to RM30,000 or jailed up to two years or both. Janathan said the operation is part of a nationwide effort to trace companies which "forgot" to register despite being given warnings and leniency to do so months ago.
ADVERTISEMENT
"In Sabah, a total of 18,625 companies out of the estimated 20,000 eligible companies had registered for GST as of Feb. 28 and a total of 1,375 companies have yet to do so," he told the State-level launch of Ops GST at the Wisma Kastam here. The operation would be conducted in Kota Kinabalu and major towns such as Tawau, Sandakan, Lahad Datu and Keningau, among others. "This is a joint effort which involves 16 teams of officers and personnel from three divisions in the Customs Department, namely the GST Division, Compliance Division and Enforcement Division," he said. On another note, he said the Customs Department was targeting to collect a total of RM1.2 billion in revenue from GST, levy, import tax and export tax this year.
ADVERTISEMENT
The department also for the first time invited a lion dance troupe to add joy to the launching ceremony in conjunction with the Chinese New Year celebration.In KUALA LUMPUR, the Customs Department has issued compounds of RM15,000 to 100 companies for failing to register.
ADVERTISEMENT
Companies with an income threshold of RM500,000 had to register for the GST which comes into effect on April 1. Customs Department GST Director Datuk Subromaniam Tholasy said it is important for companies to register as the department needed to provide a level playing field for businesses. "By not registering for the GST, the firms have a competitive advantage. This will create a lot of confusion and is unfair to those compliant businesses," he said. "The system is in place. But my main concern is the preparation of the businesses, as failure to understand the GST guidelines will result in the companies facing problems, especially in the early stage of implementation," he said. Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
