The Royal Malaysian Customs Department (Customs) will issue a maximum compound fine of RM15,000 to individuals and traders through forceful registrations for the Goods and Services Tax (GST).
Customs Director-General Khazali Ahmad said the forceful registration notice would be issued at the end of this month.
To date, it is estimated that more than 300,000 companies and individuals generating revenues above the threshold of RM500,000 have failed to register for the GST.
He urged any individuals or companies who had yet to register for the GST to do so as soon as possible before the forceful registration was implemented.
“The compound fine of RM2,000 will be imposed from today to those who failed to register on the stipulated date. The compound fine of RM150 will be imposed on each subsequent day of non-payment. The GST registration began in June 2014 and ended on December 31 last year. To date, registrations has reached 304,344,” Khazali told reporters at a GST seminar here yesterday.
Bernama
Wed Jan 21 2015
To date, it is estimated that more than 300,000 companies and individuals generating revenues above the threshold of RM500,000 have failed to register for the GST.
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