Tuesday, April 11, 2017

Companies Goods and services tax (GST) statement return inaccurate

A total of 20 percent of the 437,000 companies that send tax returns of goods and services tax (GST) to the Royal Malaysian Customs (RMC) is a dubious submit payment information.

Its director-general Datuk T. Subromaniam said, at the same time there are about 25,000 companies registered with the department did not submit a statement of GST so far.

"There are companies did not submit statements of GST to RMC, about 25,000 companies while the 437,000 companies that send statements of GST, about 20 percent were found to produce statements of dubious," he told reporters after the launching of Operation Blue Ocean Strategy Customs (CBOS) 3.0 at the Customs office here today.

He said the problem of dubious statements that are the focus of the RMC operations CBOS 3.0 which runs until 31 December.

According to him, in the operation, the officers will visit the companies involved to ensure they comply with the law voluntarily tax payment.

He said that the visit also aims to trace the source of registered companies do not submit a statement as to whether dormant, moved or deliberately avoid paying GST.

He said that the operation target CBOS 3.0 is visited 200,000 companies in the year to ensure that companies registered with the GST returns with appropriate payment.

"To submit GST returns inaccurate or deliberately escape from paying the GST is an offense under the Prevention of Money Laundering Act 2001 (AMLA), which means the department can take action to freeze or seize property of the offender's account.

"However, we do not want to take such drastic action and introduce the first step of using a friendly approach, CBOS 3.0 because the owner wants the company to comply with the law voluntarily," he said.

In the meantime, he said, most of the GST collected from users in the country is derived from the Klang Valley, Penang and Johor.

Earlier in his speech, he said, CBOS 3.0, which was introduced last year managed to boost revenue collection by Customs of RM1.5 billion exceeded the target figure.

In connection with that, the department is confident the operation would give a multiplier effect on the efficiency of the management of the department's organization and contributed additional revenue of RM3 billion target figure for the year.

Source : utusan

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