5 Major Developments in Malaysia
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MDEC signs Memorandum of Understanding with IRBM to implement National e-Invoicing Initiative
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Malaysia postpones imposing sales tax on low-value imports until March 2023
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Bring back GST in 2024, says Federation of Malaysian Manufacturers
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Malaysia Explains New GST Regime For Low-Value Goods, (Jan 5, 2023)
Digital Services Tax
E-Commerce / Electronic Services
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Malaysia Explains New GST Regime For Low-Value Goods, (Jan 5, 2023)
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Malaysia postpones imposing sales tax on low-value imports until March 2023
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Malaysia Publishes Draft Guide on New Sales Tax Rules for Low Value Goods
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Malaysia Sales Tax on low-value B2C imported goods delay to March 2023
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Postponed implementation of sales tax on “low value goods”; sales tax exemption on pallets
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Sales tax exemption is available for drop shipment activities
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Selling Digital Services Into Asia Pacific—Tax Compliance (Part 2)
- Malaysia Approves Bill to Impose Sales Tax on Low Value Goods
E-invoicing
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MDEC signs Memorandum of Understanding with IRBM to implement National e-Invoicing Initiative
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Malaysia prepares for mandatory e-Invoicing implementation in 2023
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Indirect tax proposals in budget for 2023 (including implementation of e-invoicing)
Excise
Exemption
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Sales Tax (Persons Exempted From Payment Of Tax) (Amendment) Order 2022
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Malaysia Gazettes Order Amending Sales Tax Exemption Rules for Registered Manufacturers
- Postponed implementation of sales tax on “low value goods”; sales tax exemption on pallets
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Service tax exemption for non-bank service providers of digital payment services
- Indirect tax proposals in budget for 2023 (including implementation of e-invoicing)
Export
Implementation / Reform
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Bring back GST in 2024, says Federation of Malaysian Manufacturers
- Proposed Service Tax on Goods Delivery Services
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Malaysian United Democratic Alliance (Muda): Government should reconsider GST
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No Cabinet discussion on reintroducing GST, says Tengku Zafrul
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No need for govt to reintroduce GST at this point, says Deputy Finance Minister
Importation
- Malaysia Explains New GST Regime For Low-Value Goods, (Jan 5, 2023)
- Draft guide on sales tax on “low value goods”
- Malaysia postpones imposing sales tax on low-value imports until March 2023
- Low value goods (LVG) guidance updated
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Malaysia Approves Bill to Impose Sales Tax on Low Value Goods
Legislative Change
Rate
Real Time Reporting/Continuous Transaction Controls
- Malaysia’s National e-Invoicing program has stepped forward
- Malaysia e-invoicing 2023 confirmed in budget
Reporting / Compliance
SME (Small and Medium-Sized Enterprises)
Taxable Transaction
Tax Authorities / Penalties