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GST: Customs Dept collects RM2.58 billion from imports

GST: Customs Dept collects RM2.58 billion from imports
He said the Customs Department would be organising a nationwide client programme to help businesses do so, especially those who are filing for the first time.
KUALA LUMPUR: The Royal Malaysian Customs Department has collected RM2.58 billion as Goods and Services Tax (GST) from imports since implementation of the new tax system on April 1.

Deputy Finance Minister Datuk Chua Tee Yong said the figure, however, is not the exact amount in government revenue, as a bulk of it would be used as GST input credit.

He told reporters this here today after launching the Post-GST Conference 2015.

On the GST filing, he said the Customs Department would be organising a nationwide client programme to help businesses do so, especially those who are filing for the first time.
"There are a few concerns about filing the form, such as text code and input tax for claims and filling up the GST form which is the main filing form," he said.

He added that a launch date for the programme would be announced to make businesses aware of it and it would be conducted at between 20 and 30 locations and not just in big cities.
Meanwhile, on the total GST collection to date, he said such an estimation can only be made by end-July or in early August after all businesses has made their filing.

He said this is because those businesses with revenue below RM5 million can do their filing quarterly, while those having more, need to file their GST collection monthly.

Themed, "The Six Per Cent: So You Think You Know It?", the one-day conference discussed various aspect of the GST implementation and challenges related to it.