New tax system will ensure most of 84% who do not pay their dues do so


Hairstylists Chan Tian Lee, 24, and Lim Kim Pei, 27, showing GST-calculators at Popular Book in Komtar, Penang. The calculators, which calculate Goods and Services Tax (GST) with just a click of the button, are now in demand by shoppers. Popular Book Co (M) Sdn Bhd area manager Teh Ai Ling said sales had been good with more than 100 GST-calculators sold over the fortnight.

PETALING JAYA: About 84% of companies registered with the Com­­panies Commission of Malaysia (CCM) and salaried employees do not pay taxes under the current system. But this ends today.

With the launch of the Goods and Services Tax (GST) system, the base of companies and individuals paying taxes will be significantly enlarged and will capture those who could have been under-declaring or evading taxes.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , subro , gst

   

Next In Nation

Sabah Immigration Department deports 227 Indonesians under 19th Illegals Deportation Programme
Motivational speaker claims to have been threatened, abused by Armed Forces counselling officer
Man found drowned while searching for clams
The Proton Saga will begin to be assembled locally in Egypt starting this December
Stability is secured through good governance and anti-corruption, says Anwar
Bung backs Hajiji's call for full probe on whistleblower's claim
Raising minimum wage will spur national economy, says Human Resource Minister
Anwar making official visit to Peru for Apec meet on Nov 13
13km-long jam southbound on PLUS' Gopeng-Tapah stretch
Protection only for whistleblowers with proven integrity, says Anwar

Others Also Read