KUALA LUMPUR: The Royal Malaysian Customs Department has collected over RM6 billion as Goods and Services Tax (GST) as of Wednesday, since the tax system was implemented on April 1.
Deputy Director-General (Enforcement and Compliance Division) Datuk Matrang Suhaili said of the total amount, GST paid on imports accounted for RM3.37 billion.
He said the GST collection was part of the department’s total collection of RM20.7 billion nationwide from January until Wednesday.
“We are optimistic of achieving the overall collection target of RM45.44 billion for this year where RM23.7 billion will come from the GST as over 300,000 merchants registered under the GST system will submit their GST statements by June 15.
“Based on the performance so far, it is possible that the overall revenue collection may exceed RM50 billion,” Matrang told reporters after closing the Assistant Superintendent Basic Course Grade W17 Series 1/2015 here on Thursday.
Matrang said the ‘Ubiquitous Customs’ (U-Customs) electronic system is 75% completed and would be operational on Jan 1 next year.
“It will replace the current Customs Information System (CIS). U-Customs conforms with international standards and will enhance overall trade facilities and Customs procedures as part of efforts to curb smuggling and commercial fraud in the country,” he said, adding the system was developed because the existing CIS system cannot meet current trading requirements.
