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Iris gets GST tourist refund job [New Straits Time (Malaysia)](New Straits Time (Malaysia) Via Acquire Media NewsEdge) KUALA LUMPUR: TECHNOLOGY firm Iris Corp Bhd has set another ball rolling in the implementation of the Goods and Services Tax (GST) after securing a RM155 million job to refund foreign tourists who shop here. The company is the sole refund agent for the Tourist Refund Scheme, said Iris managing director Datuk Tan Say Jim. He said for example, tourists who spend RM20,000 on shopping will be refunded six per cent, or RM1,800, and Iris will earn 15 per cent from it. "Iris will invest RM155 million on infrastructure. We have to be innovative because tourists will be turned off by long queues at refund counters. The more that tourists spend, the more we will earn," he said after the company's annual shareholders' meeting , here, yesterday. The contract is for three years with an option to extend by another two years, he added. "The Customs Department is identifying sites for the facility and I am sure the Kuala Lumpur International Airport will be one of them," said Tan. In a filing to Bursa Malaysia yesterday, Iris s aid it s wholly- owned subsidiary Information Technology Systems Sdn Bhd will implement the job in partnership with Switzerland's Global Blue SA. Global Blue is the leading international provider of GST refund services. Iris said the GST refund scheme is part of its core business that provides software and hardware security solutions. (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |