LAST_UPDATEFri, 22 Jun 2018 6pm

RM2 Million Penalty For Traders Flouting Price Control Act

The penalty for traders flouting the Price Control Act will be increased to between RM1 million to RM2 million next year, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek.

The increase, which has been agreed to by the Cabinet, Dewan Rakyat and Dewan Negara, will be gazetted early next year, he said.

The existing penalty of between RM100,000 to RM200,000 has not been effective at curbing profiteering by traders and has led to laments about widespread subsidy cheating, he said at the launch of Shell Malaysia's 'Win Free Fuel' contest here Tuesday.

Meanwhile, he said the ministry is working with the Attorney General's Chambers to put the finishing touches to the proposed special court for cases relating to the Goods and Services Tax (GST), including on the appointment of judges and location of the court.

"The court, which will begin operations next year, will hear all cases relating to the new tax system, including of companies identified by the Royal Malaysian Customs Department as having committed cheating and making false declarations in respect of GST registration," he said.

A local daily today quoted the Customs Department's GST Director Datuk T Subromaniam as saying that out of the 236,610 GST registrants received as of yesterday, several cases of cheating by companies and individuals had been detected.

Hasan said the ministry will take firm action against business proprietors and traders found guilty of cheating, including withdrawing their business licences.

Meanwhile, in the 'Shell Win Free Fuel' contest from today until March 15 next year, 10,000 Shell customers stand a chance to win a share of over RM2 million worth of free fuel when they pump RM30 worth of any Shell petrol or diesel at any Shell station nationwide.

Customers need to fill up a contest form, answer a simple question and attach the original receipt.

Three Grand Prize winners will be drawn monthly, each walking away with a year's free fuel worth RM10,000, while an additional 835 customers will win RM200 in fuel each week.