SEVEN months into the GST era, the results appear to be positive. The total number of GST registrants has increased to 400,000 and this figure is expected to continue growing.
The average GST returns submission rate is also well over 90% based on statistics released by the Royal Malaysian Customs (RMC).
For the period April to December 2015, the Government has forecasted the revenue from GST to be RM27 billion, which equates to about RM3 billion per month.
As announced by the Prime Minister during the recent tabling of the Budget 2016, the projected GST revenue for 2016 is RM39 billion and this represents a healthy net increase of RM21 billion from the RM18 billion that was expected to be collected under the previous sales and service tax regime.
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The average GST returns submission rate is also well over 90% based on statistics released by the Royal Malaysian Customs (RMC).
For the period April to December 2015, the Government has forecasted the revenue from GST to be RM27 billion, which equates to about RM3 billion per month.
As announced by the Prime Minister during the recent tabling of the Budget 2016, the projected GST revenue for 2016 is RM39 billion and this represents a healthy net increase of RM21 billion from the RM18 billion that was expected to be collected under the previous sales and service tax regime.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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