PETALING JAYA: Businesses with an annual sales turnover of more than RM500,000 are required to register with the Royal Malaysian Customs Department for the implementation of the Goods and Services Tax (GST), before Dec 31 this year.
Customs Department senior assistant director Chin Jek Bik said those who failed to comply with the instruction would be penalised up to RM20,000.
“A late registration penalty will be charged at a minimum RM1,500 and up to a maximum RM20,000 after 30 days of the GST implementation in April 2015,” she said.
However, businesses with less than RM500,000 in annual sales turnover could voluntarily register their companies, but will be bound by a two-year registration law, unless they closed their operation and companies during that period.
Registration can be made via online at gst.customs.gov.my, or through a manual submission to the Customs Department in Kelana Jaya. — Bernama