Iris’s GST refund software will be up on April 1, 2015 – Bernama
Iris Corp Bhd said its RM155 million goods and services tax (GST) refund software for tourists will be operational on the day the tax is implement on April 1, 2015.
Group managing director Datuk Tan Say Jim said Iris has received the approval from the Royal Malaysian Customs Department and would start developing the software for the tourist refund scheme (TRS).
"It is not a contract where the government gives us a certain amount of money. We were given a 'three-plus-two-year' concession by the government. It is up to us to invest in the infrastructure," he said after the company's annual general meeting today.
He said out of the 6% of the GST refund claimed by a tourist, Iris would get 15% of the refund value.
"We are still negotiating with the Customs Department on which areas that are suitable to put up the refund counters. We are identifying KLIA and klia2.”
Pursuant to the tender requirements, Iris has also established a joint venture company with Global Blue, the Swiss-based expert in international shopping and spending.
The JV would provide a world-class TRS system in Malaysia by combining Iris's expertise in global IT solutions with Global Blue's experience in operating TRS in 37 countries worldwide. – Bernama, September 22, 2014.
