Delayed imposition of sales tax on B2C low value goods goes ahead 1 January 2024 Reforms to sales tax on small value packages have now been confirmed for 1 January 2024. The Royal Malaysian Customs Department had previously postponed the imposition of sales tax reforms
Aug 2024 phased e-invoicing – new guideline and catelogue v2.1 On 28 October 2023, the Malaysian Inland Revenue (LHDN) published new v2.1 e-invoicing guideline and catalogue. The guidance covers: In-scope transactions; Transaction types Implementation timelines Data fields required Using MyInvois Portal – submissions, validations, notifications, sharing
2024 Budget: 2% rise in Service Tax; extending tax net; new Luxury Tax Malaysia’s 2024 Budget, presented to the parliament on 13 October 2023, includes a 2% rise in the Service Tax from 6% to 8%. Certain essential supplies will remain at 6% and a
Prime Minister rules out return to Goods & Services Tax to replace Sales and Services Tax PM Anwar this week confirmed there are no plans to return to Goods & Services Tax (‘GST’). Following a review to scrap the existing Sales and Services Tax for
Legislation to impose Sales Tax on low-value goods from 1 January 2023 (to be finalised) The Malaysian Sales Tax Bill 2022 passed at the Parliament to impose Sales Tax on the imports of goods being sold to consumers under to-be-set threshold. This is expected to
Government still evaluating reintroduction of Goods and Services Tax to replace Sales and Services Tax Malaysia is again facing calls to reintroduce a Goods and Services Tax to replace its turnover-based Sales and Services Taxes. GST was first introduced in April 2015 to replace SST,
Malaysia has extended the exemption from 5% Service Tax for hotels and overnight accommodation. The existing temporary cut was due to expire on 1 July 2021. It will now apply to 31 December 2021. The reduction to 31 December 2021 applies to renting premises. Any
Malaysia imposed its Service Tax on foreign-provided digital services from 1 January 2020. This includes providers and electronic platforms. There is a RM 500,000 Sales Tax registration threshold. Non-residents must charge this to both B2C and B2B transactions. There is no requirement to appoint a
New budget promises extension of SST across e-commerce In the 2022 National Budget, published on 29 October 2021, Malaysia extended its 6% Service Tax to delivery services. Secondly, it will require sellers of imported goods not exceeding RM500 to charge 10% Sales Tax at the
Malaysia introduced a Digital Services Tax from 1 January 2020. This is a turnover tax on foreign entities selling various electronic taxes into Malaysia. The rate is 6%. Malaysia withdrew its short-lived 6% Goods and Services Tax in June 2018 when it reintroduced its sales and
