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After Three Years, GST Has Saved Billions Lost In SST

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KUALA LUMPUR- Three years after its introduction in April 2015, the Goods and Services Tax (GST) has plugged the loss of billions of ringgit through the Sales and Services Tax (SST). Collections from the GST last year amounted to more than RM40 billion which was returned to the people through various projects including upgrading infrastructure…

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Should We Pay Tax For Eating Sugar? UN Agency Says Yes

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Governments should tax sugary drinks to fight the global epidemics of obesity and diabetes, the World Health Organization said, recommendations industry swiftly branded “discriminatory” and “unproven”. A 20% price increase could reduce consumption of sweet drinks by the same proportion, the WHO said in “Fiscal Policies for Diet and Prevention of Noncommunicable Diseases”, a report…

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Uber And Grabcar Platform To Be Taxed?

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KUALA LUMPUR: The Finance Ministry has no plans to tax Uber and Grabcar drivers but is looking at taxation on the service platform. Second Finance Minister Datuk Johari Abdul Ghani said this was because the Uber and Grabcar application platform raked in millions of ringgit in profits from their operations in the country. “We (ministry)…

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Govt Eyes Providers That Generate Billions Of Ringgit In Revenue

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KUALA LUMPUR: While the Government is studying the possibility of imposing a tax on digital business platforms, there is no intention to disrupt small businesses that operate online, according to Second Finance Minister Datuk Johari Abdul Ghani. Digital business platforms generate billions of ringgit in revenue, but do not pay taxes as there is no…

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Customs Expects To Collect RM52 Bln In Taxes This Year

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KUALA LUMPUR: The Royal Malaysian Customs Department is confident of achieving RM52 billion in tax revenue this year as targeted by the government in the 2016 budget. Director-General Datuk Seri Khazali Ahmad said the department was undertaking initiatives to improve its tax collection system for the convenience of taxpayers. Out of the total, RM39 billion…

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IRB Vouchers For Taxpayers

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KUALA LUMPUR – Vouchers will be given to individual taxpayers reluctant to disclose their bank account numbers to the Inland Revenue Board (IRB) to get reinbursements. IRB corporate services department director Marina A. Aziz said the tax reimbursement voucher would be introduced from April 1, replacing cheques. She said there was a cost for issuing…

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Taxpayers Can Stay e-Filing Returns From March 1

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KUALA LUMPUR – Taxpayers may file their Income Tax Return Forms (BNCP) for 2014 through e-Filing for forms E, BE, B, BT, P, M, MT, TP, TF and TJ from March 1. The Inland Revenue Board (LHDN) in a statement today informed that the last date for submitting their manual (paper) BNCPs for 2014 were…

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