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GST: Mandatory Registration Of Companies After Dec 31

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KUALA LUMPUR – Companies which are found to have not registered for the implementation of the Goods and Services Tax (GST) after Dec 31 this year will be forced’ to do so, Malaysian Royal Custom Department GST director Datuk T. Subromaniam said.

“As of yesterday, only 107,511 companies have registered for the GST, but from our records, there are over 300,000 companies that should really register with us.

“If they fail to register before end of this year, we will enforce mandatory registration because we have all information about them, their businesses and their sales,” he told reporters after giving a briefing on the implementation of the GST to over 100 RTM staff and bureau chiefs at Angkasapuri here today.

All business that has sales turnover RM500,000 or more are required to register with the department for the implementation of the GST before Dec 31, this year.

However, businesses with less than RM500,000 in annual sales turnover could voluntarily register their companies, but will be bound by a two-year registration law, unless they closed their operation and companies during that period.

Subromaniam said business owners who failed to register their companies could be charged under Section 96 of the GST Act 2014, which carries a fine of up to RM30,000 or imprisonment of up to two years, or both.

“We also have the power to issue a compound fine of up to RM15,000 on them. We want to help them through our support and training programmes, but only registered companies will be called to receive more information on the implementation of the GST,” he said.

Meanwhile, Custom Department deputy director-general Datuk Zainul Abidin Taib said company owners or members of the public who were still confused about the implementation of the GST could contact the department for further information.

“We have set up Custom kiosks at various locations nationwide to help the people to get all information about the implementation of the GST at any time,” he said.

Information can also be obtained at GST’s website at www.gst.customs.gov.my or by contacting the toll free line at 1-300-888-500, he added.  – BERNAMA

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