Register now with MyGST, minister tells companies

Companies implementing the goods and services tax (GST) in April 2015 have been urged to register with the Customs Department now.

Registration was compulsory for companies with an annual turnover of more than RM500,000 and those implementing the existing sales and services tax (SST), Bernama reports Deputy Finance Minister Datuk Ahmad Maslan as saying.

The number of companies registered with the Royal Malaysian Customs Department, said Ahmad, was small.

The GST registration exercise began last month and companies have been told not to wait until the last minute to register.

The Finance Ministry is aiming to register 250,000 companies via the MyGST system, which was connected to the Companies Commission of Malaysia (CCM).

Customs is among the agencies which will play a prominent role in the implementation of the GST, such as enforcement and monitoring to ensure that it is implemented smoothly.

During the Dewan Negara sitting on May 5 this year, Ahmad Maslan said GST would be imposed on 689 goods. – July 15, 2014.