Array
(
    [_edit_lock] => Array
        (
            [0] => 1702896096:21
        )

    [tdc_dirty_content] => Array
        (
            [0] => 1
        )

    [tdc_icon_fonts] => Array
        (
            [0] => a:0:{}
        )

    [_edit_last] => Array
        (
            [0] => 21
        )

    [_post_language] => Array
        (
            [0] => English
        )

    [_molongui_author] => Array
        (
            [0] => guest-120151
        )

    [_molongui_main_author] => Array
        (
            [0] => guest-120151
        )

    [td_post_theme_settings] => Array
        (
            [0] => a:2:{s:14:"td_primary_cat";s:3:"599";s:11:"td_subtitle";s:108:"Customs Department had announced 10% sales tax on such goods sold online would come into effect on January 1";}
        )

    [_yoast_wpseo_primary_category] => Array
        (
            [0] => 599
        )

    [_yoast_wpseo_metadesc] => Array
        (
            [0] => The Finance Ministry has clarified that the government's decision to impose a 10% sales tax on imported low-value goods (LVG) sold online, effective from January 1 next year, is aimed at levelling the playing field for the local retail industry.
        )

    [_yoast_wpseo_content_score] => Array
        (
            [0] => 60
        )

    [_yoast_wpseo_estimated-reading-time-minutes] => Array
        (
            [0] => 2
        )

    [_yoast_wpseo_wordproof_timestamp] => Array
        (
            [0] => 
        )

    [post_views_count] => Array
        (
            [0] => 354
        )

    [_thumbnail_id] => Array
        (
            [0] => 147075
        )

    [post_views_count_7_day_arr] => Array
        (
            [0] => a:7:{i:0;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:1;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:2;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:3;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:4;a:2:{s:4:"date";i:0;s:5:"count";i:0;}i:5;a:3:{s:4:"date";s:10:"1748668322";s:5:"count";i:1;s:14:"per_hour_count";a:5:{i:7;i:1;i:9;i:1;i:22;i:1;i:19;i:1;i:5;i:1;}}i:6;a:3:{s:4:"date";s:10:"1748178333";s:5:"count";i:3;s:14:"per_hour_count";a:2:{i:13;i:1;i:16;i:2;}}}
        )

    [post_view_7days_last_day] => Array
        (
            [0] => 5
        )

    [post_views_count_7_day_last_date] => Array
        (
            [0] => 1748668322
        )

    [post_views_count_7_day_total] => Array
        (
            [0] => 4
        )

    [post_views_last_24_hours] => Array
        (
            [0] => 1
        )

    [post_views_last_48_hours] => Array
        (
            [0] => 1
        )

)
Low-value goods tax aims to level playing field for local retailers: Finance Ministry | Scoop
Finance Ministry says objective behind implementing the sales tax on imported low-value goods sold online is to address tax treatment disparity between goods sold by traditional retailers and online dealers. – Scoop pic, December 18, 2023
News

Low-value goods tax aims to level playing field for local retailers: Finance Ministry

Customs Department had announced 10% sales tax on such goods sold online would come into effect on January 1

Main Author Image
Farah Solhi
Updated
6:41 PM MYT

 

KUALA LUMPUR – The Finance Ministry has clarified that the government’s decision to impose a 10% sales tax on imported low-value goods (LVG) sold online, effective from January 1 next year, is aimed at levelling the playing field for the local retail industry.

In a statement today, the ministry highlighted that the surge in online retail has created an unfair advantage for businesses selling goods directly to Malaysian consumers online, as opposed to traditional retail establishments within the country.

The existing sales tax structure has a loophole, wherein the relevant importer, wholesaler, and retailers bore the sales tax prior to LVG sales to consumers in the country, the ministry noted.

“Globally, it is common practice not to impose sales tax and import duty on imports below a minimal value, which was set at RM500 for Malaysia. This is done to facilitate customs clearance for postal and courier shipments,” the statement explained.

“However, the objective behind implementing a 10% sales tax on imported LVG sold online is to address the tax treatment disparity between goods sold by traditional retailers and online businesses. 

“This move aims to create a level playing field for businesses in Malaysia, particularly for micro, small, and medium-sized enterprises (MSMEs),” the ministry added.

The Customs Department had previously announced that the 10% sales tax on LVG sold online would come into effect on January 1. Originally scheduled for implementation on April 1 this year, the tax was indefinitely postponed in March.

The ministry clarified in the same statement that the postponement was intended to allow the Madani government time to engage with industry players and key stakeholders to address implementation issues. – December 18, 2023

Topics

 

◉ Popular

Former DBP chief, poet Firdaus Abdullah dies aged 79

Former Dewan Bahasa dan Pustaka (DBP) director-general Datuk Firdaus Abdullah, 79, who was also known as a writer and poet, died today

Kajang crime rate drops 13.5% thanks to community efforts: police chief

Resident associations, police efforts in crime prevention programmes prove highly effective, says Datuk Hussein Omar Khan

LGBTQ+ rights advocacy: Somebody else please, not Matty Healy

The troubled lead singer of British rock band The 1975 made global headlines this weekend following his outburst against the country’s laws governing LGBTQ+ activities during a performance at the Good Vibes Festival at the Sepang motorsport circuit on Friday.

◉ Related

Copyright © 2023. All rights reserved.