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GST Registration Rises To 272,847 AS At Dec 29

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KUALA LUMPUR – The number of companies registered for the Goods and Services Tax (GST) stood at 272,847 as at yesterday, an increase of 7,685 from Monday, the Royal Malaysian Customs Department said.

The number of GST-registered companies has surpassed the government’s year-end target of 140,000.

Businesses with an annual turnover of less than RM500,000 have been urged to apply for voluntary GST registration in anticipation that their sales exceed the threshold amount in the future.

Malaysia is set to implement new consumption tax at six per cent at all level of businesses from April 1, 2015.

The registration ends tomorrow. – BERNAMA

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