- Malaysian lower house of parliament approved Sales Tax (Amendment) Bill 2024
- Bill includes measures to apply sales tax to goods manufactured in Island 1
- No person can retail items on the Island without approval from the Minister
- Applications for approval must be made in specified manner
- Sales value of certain taxable goods will be determined according to specified provision
- Penalties will be imposed for noncompliance
Source: news.bloombergtax.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.
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