- Finance (No. 2) Bill 2023 provides further details on announcements made in the 2024 budget
- Proposed amendments to laws concerning Sales Tax and Service Tax
- Sales Tax amendments include changes to the definition of “seller,” credit notes or debit notes, and the power of the Minister to exempt and refund
- Sales Tax on importation is not applicable on LVG (low value goods)
- Proposed amendments to the taxable period and power of the DGRMCD (Director General of Royal Malaysian Customs Department) for Sales Tax
- Service Tax amendments include deductions from the return of refunded Service Tax and the power of the DGRMCD for Service Tax.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Malaysia"
- Malaysia Revises Service Tax Rules, Adds New Exemptions Effective July 2025
- Malaysia Issues New Service Tax Policies for Healthcare and Construction Effective July 2025
- E-invoicing in Malaysia technical factsheet
- Briefing Document & Podcast: E-Invoicing in Malaysia: Scope, Regulations & Future Outlook
- Malaysia Drops High-Value Goods Tax, Applies Higher Sales Tax to Luxury Items
