GST collected last year

> Revenue from tax enables govt to provide good initiatives to people, says PM

PUTRAJAYA: The Customs Department collected RM44 billion in Goods and Services Tax (GST) in 2017, RM3 billion more than the year before, said Prime Minister Datuk Seri Najib Abdul Razak.

“GST is a source of income (that allows) the government to continue providing good initiatives to the people.

“BR1M (1Malaysia People’s Aid) needs about RM6 billion a year, and if not because of economic stability, we could not do this,” Najib said during the 36th World Customs Day celebration at the Putrajaya International Convention Centre yesterday.

Also present were Chief Secretary to the Government Tan Sri Ali Hamsa, Second Finance Minister Datuk Seri Johari Abdul Ghani, Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah and Customs Director-General Datuk Seri Subromaniam Tholasy.

Najib said GST, which was first introduced on April 1, 2015, has balanced out the economy in Malaysia and even if there was a drop in international oil prices, GST would help stabilise the economy.

He said the government predicts GST collection for 2018 will reach RM45 billion, adding that there are no plans to increase the current GST rate.

“Although some labelled it as an unpopular move, this is the step the government had to take to ensure that we do not face an economic recession.

“If there is no GST, I cannot guarantee that we can remain this way.”

At the event, Najib also launched the Malaysian GST Compliance Assurance Programme to enhance risk management between businesses and the Customs Department.