The net goods and services tax (GST) collection from Apr 1, 2015 to Dec 31, 2015 reached RM27.01 billion, said the Ministry of Finance.
Bernama reported that the ministry said the collection took into account the six per cent tax credit claim on inputs for the nine-month period. The new tax regime was implemented on Apr 1, 2015.
The ministry said this in a reply to a written question from Mohamed Hanipa Maidin (Sepang) at the Dewan Rakyat Tuesday. Mohamed Hanipa wanted to know the actual amount of GST collection by the government at the Dewan Rakyat.
He also asked how much of the money collected under the GST would go to the Consolidated Fund.
“The GST is the revenue for the federal government. Thus all collection will go into the Consolidated Fund, including those from other sources.
Meanwhile, the Royal Malaysian Customs Department was recently quoted as saying it was confident of collecting RM52 billion in GST this year, as fixed in Budget 2016.