Customs Dept to issue a RM5,000 compound on the spot

KELANA JAYA: The Customs Depart­ment has set a target to register 100,000 new businesses nationwide this year.

Customs Department director-general Datuk Seri Khazali Ahmad said the figure was on top of the 400,519 businesses which had been registered for the whole of last year.

He said educational and persuasion approaches would continue to be adopted by his officers to get business owners to register voluntarily.

“By now, owners should know that once they meet the stipulated threshold, it is mandatory to register their businesses.

Action will be taken against those who met the criteria but had yet to register.

We will track them down and issue them with a RM5,000 compound on the spot,” he told reporters after launching the 2016 Ops Jejak GST at the Kuala Lumpur Customs Complex near here. The five-day Ops Jejak, which kicked off yesterday, ends on Jan 22 with a target to register some 20,000 new businesses nationwide.

Under the Goods and Services Tax Act 2014, GST registration is mandatory if businesses achieved an annual turnover of RM500,000 or more.

Voluntary GST registration is allowed.

Only a GST-registered business can issue a tax invoice to charge and collect GST from consumers.

Source from THE STAR/NEWS/NATION @ 18January2016

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