GST Registrations At 172,687 As Of Nov 28

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KUALA LUMPUR, Nov 29 – The number of companies registered for the Goods and Services Tax (GST) stood at 172,687 as of Nov 28, an increase of 2,643 from the previous day, said the Royal Malaysian Customs Department.

Businesses with an annual sales turnover of less than RM500,000 are urged to register for the GST, in the event it exceeds RM500,000 in the future. They are to register by Dec 31, 2014 with the new tax system to be implemented on April 1, 2015.

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