- Malaysian Customs Department issued Service Tax Policy No. 7/2024 on July 26
- Clarifies service tax treatment on issuance of virtual credit cards
- Virtual credit cards issued as product enhancements over physical credit cards not subject to service tax if conditions are met
- Service tax charged on issuance of virtual credit card without physical card or if intended to fully replace physical credit card
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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