Feb 27 — A total of 325,279 companies have registered for the Goods and
Services Tax (GST) as the deadline ends tomorrow, Deputy Finance
Minister Datuk Ahmad Maslan said.
The Finance Ministry is satisfied with the number although about 40,000
companies have yet to do so as it has achieved the target of getting
240,000 companies to register for the tax regime, he said.
“We want the remaining companies to sign up tomorrow to avoid being
slapped with a RM15,000 compound,” he told reporters after attending a
briefing on the GST, Budget 2015 and current issues here today.
Businesses have been reminded to register for the GST since June 1 last
year and the deadline had been extended from December 31 to tomorrow,
he said, adding that the deadline would not be extended further as the
government had given businesses ample time to do so.
Ahmad said the government, with the aid of consumers associations,
would monitor the prices upon the implementation of the GST on April 1. —
Bernama
- See more at:
http://www.themalaymailonline.com/malaysia/article/over-325000-companies-have-registered-for-gst-ahead-of-tomorrows-deadline-m?utm_medium=twitter&utm_source=twitterfeed#sthash.wgWWz7MP.dpuf
Friday, February 27, 2015
SANDAKAN, Feb 27 — A total of 325,279 companies have registered for the Goods and Services Tax (GST) as the deadline ends tomorrow, Deputy Finance Minister Datuk Ahmad Maslan said. The Finance Ministry is satisfied with the number although about 40,000 companies have yet to do so as it has achieved the target of getting 240,000 companies to register for the tax regime
Wednesday, February 25, 2015
Monday, February 9, 2015
what a mistake in this news of GST?
Gaming firms in Sabah to absorb the 6pc GST
Published on: Tuesday, February 10, 2015
|
"We have been directed by the Ministry of Finance who is our licensed authority and with the consent of the Customs Department to bear the six per cent GST.
"Therefore, the 6 per cent tax will be part of our expenses…we will absorb it or the other way around is to convert into the total revenue making it 2.4 per cent," he said on Monday.
However, Goh who is the President of Everise Ventures Sdn Bhd (EVSB), the managing company of Sandakan Turf Club (STC), explained that under the special scheme set by the government, they will deduct the pool betting duty, gaming tax, the prize they need to pay to the winner, pay out ratio, pay out winning prize money from their total revenue.
"If our total nett is positive, then we're required to pay six per cent tax to the government but if it is negative, then we're not required to pay," he said, adding that they are not allowed to carry forward any draws in terms of losses.
Goh also explained that punters pay 15 per cent sales tax imposed by the State Government. "So we will collect the tax from the punters and pay it to the government. Therefore, you can see that the number forecast industry is selling RM1.15 per unit whereas in peninsula, they do not have this.
"There is sales tax in Sarawak but they only pay 7.5 which means RM1.75 but we are selling it for RM1.15. Therefore, this is an uphill task for the number forecast industry in Sabah generally," he said, adding that 2015 will be a challenging year especially after the implementation of GST.
According to him, the various high taxes imposed by the Federal and State government, Customs Department as well as Inland Revenue Board will definitely affect their sales revenue.
"There will be less competition among licensed operators compared to the illegal ones. "Therefore, we urge the government and of course the authority to look into this problem and take necessary actions against those illegal operators to protect legal operators and government revenue.
"As you can see, we pay a lot of taxes and if our revenue drops then the government will receive less taxes as well," he said, stating that they are not allowed to increase their selling or change the prize payout unless they received an approval from the government.
"STC is one of the operators in Sabah and we have Sports Toto as well as Diriwan 88. Out of these three, STC is the only company which has one product, which is 4D. The rest of the operators have three or more products.
"So we are among the smallest and the only Sabah-based company," he said, stating that the increase of products is subject to the government's approval.
Goh also said that the number forecast is a sunset industry as it is preferred among adults above 50.
"Malaysia is one of the oldest countries to operate the industry but we are getting fewer punters among youngsters.
"Youngsters don't really like the 4D game. They prefer other games such as soccer, machine based and others. That's why it's a sunset industry because it will affect our annual revenue when we have lesser senior citizens.
"As a local operator, we have a lot of social obligations to perform so this is going to be quite challenging," he said
Tuesday, February 3, 2015
why haram?
Jahara reports Ustaz for saying GST is haram
Penang opposition leader lodges report against an Ustaz for misleading Muslims about GST in his Friday sermon.
BUTTERWORTH:
Penang state legislative assembly opposition leader Jahara Hamid today
lodged a police report against a religious teacher who allegedly said
the Goods and Services Tax (GST) was illegal for Muslims during his
lecture at the Bagan Lebai Tahir mosque here.Jahara, who is also Teluk Air Tawar state assemblyman, said the report was lodged because his evening sermon last Friday had caused confusion on the implementation of GST.
“I received a complaint from a member of the congregation who claimed the ‘ustaz’ (religious teacher) in his lecture stated that it was ‘haram’ (illegal) to impose GST on Muslims and (GST) can only be imposed on non Muslims.
“The lecture delivered by the ustaz contradicted the explanation on Islamic laws on GST issued by the Islamic Religious Department (Jakim) on the GST implementation in Malaysia,” she said when contacted here today.
The police report was made at the Teluk Air Tawar police station.
Jahara also urged the Penang State Islamic Religious Council and Penang State Islamic Religious Department to investigate the ustaz’s sermon that was presented last Friday.
“I have also requested the Penang Islamic Religious authorities to ensure all mosques and surau in the state are not being used by irresponsible quarters to create confusion and doubts among Muslims.” he said.
- BERNAMA
Tuesday, January 27, 2015
RM100 per day for penalty
GST: Customs to go after stubborn traders
Published on: Tuesday, January 27, 2015
|
Sabah Customs Director Datuk Janathan Kandok said he believed there are still many companies that have yet to register even though the closing date was on Dec 31 last year.
However, he added, so far, the department had yet to take any action against any companies that committed the offence.
"But I would like to remind them to register. Do not procrastinate any longer. You will be compounded RM100 a day for that failure. Today is Jan 26, so the total amount of compound that you will have to fork out is RM2,600 already," he said, adding that in Sabah, about 16,000 companies have registered for GST.
Janathan was speaking after the 33rd World Customs Day 2015 celebration held in Wisma Pertanian, here, Monday.
He said the department had done its best in educating the public about GST but admitted that there are still many who are in the dark about the new tax system.
The problem, he said, is the public's preference to turn to social media when looking for information due to ease of accessibility.
"Instead of referring to us, they referred to the social media. Many people are getting information on the Internet but not all of these are correct.
"If the public insisted on scouring the Internet for knowledge, there is a big possibility that they would be misled. I would urge the public, if you want accurate information, refer to the Customs Department.
"I believe the public will be supporting GST if only they fully understood it," he said.
In the meantime, he said, he is satisfied by the level of commitment and dedication shown by Customs staff in the State.
"Looking at the performance reports, I am happy to note that our staff in all stations have been impressive in carrying out their duties and responsibilities.
"I also would like to call upon other enforcement agencies to continue assisting the Customs in curbing illegal activities such as drug trafficking into the State.
"I think it is important for us to cooperate with each other, especially in terms of information sharing," he said.
Monday, January 26, 2015
Thankless strata home GST status change
Thankless strata home GST status change
Published on: Monday, January 26, 2015
|
Even the booklet meant for consumer understanding and reference would only be released later this month.
A lot of smart alecks were already increasing the management fees while arguing on both sides of the amateurish approach to the implementation of the GST regime when even a lot of Customs officers were clueless waiting for directives whether oral or in writing.
In the beginning, they were only professional in given general, hazy, evasive, stonewalling answers. Even industries from the A-Z like travel, hotel to the insurance sectors resigned to their cluelessness and double-speak when asking for specific and authoritative answers.
Last year, some residential management committees registered for GST to be on the safe side of the law before the deadline on the understanding that all joint management boards and management committees of residential strata properties were placed under the standard rated supply list if their annual billing of maintenance and sinking funds exceeded RM500,000.
Being on the standard rated supply list means they are supposed to register as GST-paying entities if conditions are met.
Now, belatedly, the Finance Ministry has notified that all categories of residential strata property will be placed under the exempt supply list of the goods and services tax (GST).
This means their joint management boards (JMBs) and management committees (MCs) need not register as GST-paying entities, even if their collections exceed RM500,000.
The reply from the ministry was revealed only after petitions for zero rated status were sent to Prime Minister Datuk Seri Najib Razak, who is also the Finance Minister.
The ministry replied that it could not consider the appeal to be categorised as zero rated because JMBs and MCs of residential strata properties were regarded as entities engaged in conducting a form of business under the GST Act.
This means the appeal to classify maintenance fees and sinking funds paid by low- and medium-cost apartment residents as zero rated was rejected by the cash-strapped government.
The ministry stated that all categories of residential strata property would be placed under the exempt supply list from the low-cost to the super expensive penthouses of condominiums.
Previously, only low and medium-cost apartments were placed under the exempt supply list.
Being on the exempt supply list means that while JMBs and MCs did not have to register as GST-paying entities, residents cannot claim back the six per cent they pay as GST for the services of their contractors, technicians and repairmen for the upkeep of their flats.
For the government, there was actually no difference between the GST-exempt supply and GST standard-rated supply because in the end, the government would still get to collect the 6 per cent GST.
The only difference was whether this was though output tax or input tax.
There are still a lot of smart alecks looking forward to meet with the ministry for a mind change before April 1 for all strata units – whether residential or commercial – to be classified under the zero-rated supply list including the plight of the low- and medium-cost strata unit dwellers who largely comprise of the working and lower-income class already struggling with the rising cost of living.
Under the exempt supply list, although they do not have to register as a GST-paying entity, residents would not get a refund for the 6 per cent input tax they would have to pay their contractors, technicians and repairmen for the upkeep of their projects.This in effect, would mean that JMBs and MCs would have to increase maintenance charges in these developments by 6 per cent in order to pay suppliers in the form of input tax.
Only goods under the zero-rated supply list can claim from the Customs Department the GST incurred through payments to service providers.
Rising cost of living is already putting pressure on low- and medium-income families, and for them, there is no betterment in terms of what the government has offered, except getting the BR1M payment.
Residents of low- and medium-cost apartments formed the bulk of those living in the 25,000 stratified housing estates in Malaysia as they could not afford to stay in landed homes like some hawkers are going to increase their prices even if some politicians call for price drop because of the decrease in fuel prices.
Meanwhile, the Federation of Sabah Industries (FSI) calls for a deferment in the hike in water as well as electricity tariffs in view of what was described as going to be a bad year.
Saturday, January 24, 2015
seek litigation when confronted
‘Govt will force companies to register for GST’
Deputy minister says penalties of RM2,000 to RM15,000 will be imposed.
KUALA
LUMPUR: About 50,000 companies who missed the December 31 deadline to
register for the Goods and Services Tax will face penalties of RM2,000
to RM15,000, the government said today.Deputy Finance Minister Ahmad Maslan said the government would force companies to register, with a minimum RM2,000 penalty for compounding their missing the compulsory registration deadline. “If you do not want to register, we will register for you and a maximum of RM15,000 will be compounded. The company name and other information are available at the Inland Revenue Board,” he said.
Speaking on BernamaTV on Friday night, Ahmad said the overall response to the GST had been “amazing” – the government initially expected only 150,000 companies to register but the number had gone to more than 305,000 companies.
GST will be implemented from April 1 at the rate of six per cent, replacing the current Sales and Services Tax.
Ahmad also said the government was ready to make further revisions to the 2015 Budget, including deferring the implementation of high-impact mega projects, if global oil prices continue to plunge.
However the government’s projections were that oil prices are not likely to dip below US$40 per barrel. “The government and most economists expect oil prices to hover around US$40-US$70 per barrel, and we choose US$55 per barrel as the average oil price for the year,” he said.
All current mega projects such as the Pan Borneo Highway, the two mass transit lines in the Klang Valley, and the Kuala Lumpur-Singapore High Speed Rail will continue.
The Pan Borneo Highway would catalyse development in Sabah and Sarawak and should not be delayed again because it could change the economic landscape along the highways.
“Similarly, the MRT and high-speed train projects will be catalysts for economic growth. Creating a high-speed rail will involve hundreds of economic activities involving various industries including manufacturing and services,” he explained.
– Bernama
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