Saturday, August 15

Customs Dept to launch efforts to reduce SST-GST revenue gap

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PUTRAJAYA: The Customs Department (JKDM) will launch efforts to reduce the revenue gap between the Goods and Services Tax (GST) and the Sales and Services Tax (SST), said its director-general Datuk Seri T. Subromaniam.

Subromaniam said it was among his pledges to Finance Minister Lim Guan Eng, which he made during his first meeting with Lim after the latter was appointed to helm the ministry.

“The public knows that the revenue from the SST will be lower than the revenue from the GST, and the Customs Department try to find additional income,” he said during the Integrity Breakfast Talk programme themed Combating National Revenue Leakages here yesterday.

Subromaniam is among the three panelists during the programme moderated by Malaysian Institute of Integrity deputy chief executive officer Dr Ahmad Fadzli Ahmad Tajuddin.

The other two panelists were Malaysian Anti-Corruption Commission deputy chief commissioner (Prevention) Datuk Shamshun Baharin Mohd Jamil and Transparency International Malaysia president Datuk Akhbar Satar.

On Monday, Lim announced that the provision of services will be taxed at six per cent under the reintroduced SST, while the sales of goods will incur a 10 per cent tax.

He said the SST Bill is expected to be passed in August during the current parliament session and would be implemented in September.

The SST will replace the GST of six per cent which was introduced on April 1, 2015. – Bernama