Cabinet evaluates reimplementing broad GST to replace Sales and Services Taxes Prime Minister Anwar Ibrahim’s Cabinet has been again evaluating the introduction of a Goods and Services Tax. This latest evaluation is down to strong growth in the economy and a reluctance to reform diesel
MyInvois B2B and B2C e-invoicing submissions 1st Aug 2024 launched; initial 6-month option to submit invoices 7 days after month end On 1 August 2024, Malaysia’s mandatory B2B, B2C and B2G e-invoicing regime launched. This includes a first wave with soft-launch (taxpayers may opt to
1 March 2% rise in Service Tax Malaysia raised its Service Tax rate from 6% to 8% on 1 March 2024. However, some services remained at the old 6% rate. The separate Sales Tax on most goods rate remains at 10%. Rise implementation guidance The
New Guide and FAQs for delayed imposition of Sales Tax and duties 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 has last
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
