IRB, Customs may merge to weed out tax evaders

PETALING JAYA: Thanks to the implementation of the GST since April last year, and the active enforcement by the Customs Department, the government has now discovered tens of thousands of businesses which have never filed nor paid any income tax.

This has also alerted Putrajaya to discrepancies involving different information being submitted to the different collection agencies, namely Customs and the Inland Revenue Board (LHDN).

As a result of this development, the government is now said to be mulling merging the two agencies into a single tax and revenue collection body, The Malaysian Reserve (TMR) reported today.

‘Waive GST for the disabled’

PETALING JAYA: The 2017 Budget must take into account disability issues by waiving the Goods and Services Tax (GST) for assistive and medical equipment for the handicapped.

Damai Disabled People Association (Damai) President V Murugeswaran said the six per cent GST imposed on products for the disabled is “really burdening us”.

“The six per cent is a big burden. It’s not only a six per cent on our equipment but its six per cent on our daily lives,” he told FMT when contacted.

 

GST exemptions cost government RM5b, Treasury sec-gen says

KUALA LUMPUR, Oct 24 — The government lost out on revenue worth over RM5 billion by exempting Malaysian consumers from paying Goods and Services Tax (GST) on certain items,

Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah said today.

He said this means Malaysians are effectively paying a GST rate of just over three per cent due to the government’s numerous exemptions for consumer items from the tax regime.

Deputy finance minister dismisses GST rate hike

KUALA LUMPUR, Oct 19 — The government has no intention of increasing the existing six per cent Goods and Services Tax (GST) in the 2017 Budget which will tabled by Prime Minister Datuk Seri Najib Tun Razak on Friday.

Second Finance Minister Datuk Johari Abdul Ghani brushed off rumours that the government would increase the GST by two per cent.

Malaysia's inflation rate normalised, 18 months after implementation of GST

KUALA LUMPUR:Malaysia's inflation rate has normalised after 18 months of implementing the Goods and Services Tax (GST), the Dewan Rakyat was told today.

Finance Minister II Datuk Seri Johari Abdul Ghani(pix)said there was a drastic hike in prices of goods in the initial stages of implementing GST, which ha

"But today we see our inflation has come to a normal level which is approximately at 2%," he said in reply to a supplementary question by Datuk Abdul Hadi Awang (PAS-Marang) who stated that although the GST implementation has prevented traders and businessmen from evading tax payment, it has caused high inflation burdening the poor especially students.