- Indirect Tax (Amendment) Regulations and Indirect Tax New and Amendment Orders were gazetted on 29 December 2023 and became effective on 1 January 2024.
- Sales Tax (Amendment) (No 2) Regulations 2023 updated prescribed circumstances and conditions for issuing credit or debit notes by registered manufacturers.
- Sales Tax (Low Value Goods) (Amendment) Regulations 2023 added a new regulation allowing registered sellers to issue credit or debit notes under specific circumstances.
- Sales Tax (Customs Ruling) (Amendment) Regulations 2023 updated the form and manner to be determined by the Director General.
- Service Tax (Amendment) (No 2) Regulations 2023 updated the form and manner to be determined by the Director General and discontinued the use of Form JKDM No 2.
- Service Tax (Customs Ruling) (Amendment) Regulations 2023 updated the form and manner to be determined by the Director General.
- Service Tax (Digital Service) (Amendment) Regulations 2023 updated the form and manner to be determined by the Director General.
- Customs (Amendment) (No 4) Regulations 2023 made amendments to Regulation 6 regarding prescribed ports.
- Tourism Tax (Amendment) (No 2) Regulations 2023 updated the form and manner to be determined by the Director General.
- Sales Tax (Persons Exempted from Payment of Tax) (Amendment) (No 3) Order 2023 made changes to Schedule B and C regarding exempted goods and conditions for exemption.
- Exempted goods now include raw materials, components, manufacturing aids, cleanroom equipment, and packing and packaging materials.
- Goods transported from licensed warehouses, licensed manufacturing warehouses, or free zones are exempted.
- Manufacturing aids and cleanroom equipment must be specified by the Director General.
- Milk products manufactured that qualify for exemption are updated.
- Damaged or low-quality goods may still qualify for exemption by applying in writing to the Director General.
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.
