Indirect tax proposals in budget for 2023 (including implementation of e-invoicing)

• Import duty and sales tax exemptions on nicotine replacement therapy
• Extension of import and excise duty exemptions on imported completely built units electric vehicles
• ..
• Extension of sales tax exemption on purchases of locally assembled buses
• Expansion of excise duty and sales tax exemptions on sale, transfer, private use or disposal of individually owned taxis and hired cars
• Import duty and sales tax exemptions on studio filming production equipment
• Extension of import duty and sales tax exemptions period for certain shipbuilding and ship repairing companies
• Implementation of e-invoicing > E-Invoicing to be implemented by the Inland Revenue Board (IRB) in phases beginning from year 2023.  Pilot project with selected taxpayers.

Source: KPMG

---

---