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Customs optimistic of collecting RM42 billion in GST this year

Customs optimistic of collecting RM42 billion in GST this year
Traders who failed to pay the GST correctly would only have to pay the penalty, subject to the department's discretion. - Filepic
SHAH ALAM: The Royal Malaysian Customs Department is optimistic of achieving its target of getting an additional RM1 billion from the Goods and Services Tax (GST) in the last three months of the year, says director-general Datuk Seri T. Subromaniam.

He said with this, the department would meet its targeted GST collection of RM42 billion this year, as part of its Key Performance Index.

"Last year, the department collected about RM41 billion and we are confident that this year, we will exceed that amount and to achieve this target, the department will place its officers who will be GST ambassadors or representatives at associations and chambers of commerce nationwide from Oct 15 until Dec 31," he told reporters after attending the 82nd Malaysian Customs Directors Meeting here today.
Subromaniam said the move would help traders and company owners who had GST-linked problems, especially in making the correct declaration on the GST-03 statement.

"For a start, we will place our officers in the Klang Valley before extending to the rest of the country in stages, according to the needs and requests from the associations and chambers of commerce," he said.

Subromaniam also reminded traders and company owners to make use of the opportunities provided by the department before stern action was taken against them for failing to declare their GST statements from Jan 1 next year.

Previously, he said, traders who failed to pay the GST correctly would only have to pay the penalty, subject to the department's discretion.

"However, beginning next year, besides paying the tax and the penalty, we will also conduct an audit and comprehensive investigation on them in accordance with the Goods and Services Tax Act 2014," he said.
- BERNAMA