KUALA LUMPUR: Putrajaya will not take any action against traders who fail to register their businesses for the sales and services tax (SST) before Sept 1 if they provide valid reasons.
Finance Minister Lim Guan Eng said the ministry was prepared to give the traders some leeway.
“Just don’t try to take advantage of the leeway to avoid registering your business under the SST. Those who are required to register must register.
“We want to use a softer and wiser approach and treat all traders as our partners. We want to encourage them to pay the tax that they have to pay so that the country will continue to be developed in a healthy manner,” he told reporters at the Dewan Negara lobby here today.
Lim said the finance ministry did not fix any deadline for the traders to register, but the SST would be imposed on them accordingly once it comes into effect on Sept 1.
“If you are caught under the SST for 5% and you register on Oct 1, you still have to pay the tax from Sept 1. It’s your loss if you register late. It does not benefit you if you do not register,” he added.