92,682 businesses have registered under SST: Lim
Published on: Friday, November 16, 2018
Kuala Lumpur: A total of 92,682 businesses have registered under the Sales and Services Tax (SST) regime as of Oct 23, the Dewan Rakyat heard on Thursday.Finance Minister Lim Guan Eng said of the total, 57,298 registered under the services tax with 35,384 under the sales tax."Businesses that fail to register under the SST are committing an offence and may be fined not more than RM30,000 and their owners face a jail sentence of not more than two years or both," he said in reply to a question from Datuk Takiyuddin Hassan (PAS-Kota Bharu) who wanted to know the number of SST-registered companies as of September 2018.
ADVERTISEMENT
Lim added that businesses guilty of evading the SST could be compounded not more than 50 per cent of the amount of the maximum fine.However, he said as the SST is a new tax implemented only on Sept 1, the Customs Department is taking a more "friendly, caring and softer" approach.Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
