- Malaysia will start charging a 10% sales tax on low value goods (LVG) sold online from January 1, 2024
- The tax was originally supposed to be implemented on April 1, 2023, but was postponed
- LVG is defined as goods sold at a price not exceeding RM500, excluding certain items
- Sellers of LVG on online platforms must register with the Royal Malaysian Customs Department if the total sale value exceeds RM500,000 in 12 months
- Guidelines on the implementation of the LVG sales tax have been published
- The effective date for the tax is January 1, 2024, according to the Sales Tax (Amendment) Act 2022
Source: malaymail.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 Extends E-Invoicing Deadline for Small Businesses, Eases Rules Until End of 2026
- Malaysia Lowers Service Tax, Expands Exemptions for Rentals, Construction, and Key Inputs
- SUPP Dudong Chief Urges Federal Government to Reinstate GST for Stable Revenue, Lower Living Costs
- IRBM Issues e-Invoice Guideline Version 4.6: Expanded Consolidation, Grace Periods, and Clarifications
- Malaysia Updates Sales and Service Tax Policies for MSMEs and Manufacturers Effective January 2026
