GST collection exceeds 2015 target

Customs Department deputy director-general Subromaniam Tholasy says the Goods and Services Tax collection exceeded the RM27 billion ‎mark set by the government for 2015.

KUALA LUMPUR: The Goods and Services Tax (GST) collection has exceeded the RM27 billion ‎mark set by the government for 2015, said the Royal Malaysian Customs Department deputy director-general Datuk Subromaniam Tholasy.

He said the exact collection from the new tax regime, implemented on April 1, 2015, would be announced soon by the government.

“For this year, the department has been given the task of raising RM39 billion from the GST and we are confident of achieving the target,” he told a press conference on the GST implementation report card here today.

The 6% GST replaced the Sales and Service Tax of 10% and 6% respectively.

The GST implementation is part of the government’s tax reform programme to enhance the capability, effectiveness and transparency of tax administration and management in the country.

– BERNAMA

-FMT NEWS-