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Customs tracking companies not registered for GST

9:06pm 28/01/2016 Ann Vivien 1 views Business,National

GST

LABUAN:  The customs department here has formed a special committee to track down companies with annual turnover of RM500,000 and more, which had yet to register for the Goods and Services Tax (GST).

Its director, Wasimin Daiman said a programme had been drawn up to track down errant companies since the implementation of the new tax ruling last year.

He said this at a press conference, in conjunction with the 34th World Customs Day here today.

He said not all companies in the duty-free island with annual turnover of RM500,000 were subject to GST registration, except those dealing with oil and gas (O&G)-related supply and services.

“Based on our record, most of the O&G-related companies have registered for GST last year,” he said.
Wasimin said a total of 802 registrants recorded last year surpassed the target of 119 registrants.

The GST collection contributed to the bulk of last year’s total tax collection of RM449,920,799.94.- BERNAMA

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