5% OF 420,000 COMPANIES HAVE NOT BEEN SUBMITTING THE GST RETURN

High submission of GST return statements

Tuesday, 30 August 2016

KUALA LUMPUR: About 95% of some 420,000 companies have been submitting the goods and services tax (GST) monthly return statements since its implementation over a year ago.

Royal Malaysian Customs Department director-general Datuk Seri Khazali Ahmad said the higher submission rate was indicative of the smooth implementation of the system.


Compared with other countries which implemented a similar tax regime, Malaysia, in its first year of the GST implementation, succeeded in recording a high level of compliance from registered companies, he told reporters after attending a conference on GST here. — Bernama

Sources: http://www.thestar.com.my/business/business-news/2016/08/30/high-submission-of-gst-return-statements/

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