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Boost for businesses: govt broadens B2B logistics tax exemption | Scoop
According to Finance Minister II Datuk Seri Amir Hamzah Azizan, the expanded scope of the B2B exemption will include various logistics services such as warehousing, shipping, berthing, and cold chain facilities, as well as freight services. – Information Dept pic, March 11, 2024
News

Boost for businesses: govt broadens B2B logistics tax exemption

Move aims to alleviate double taxation concerns, reduce cascading tax effects in logistics supply chain

Bernama
Updated
8:01 PM MYT

 

KUALA LUMPUR – The government has agreed to widen the scope of business-to-business (B2B) logistics services that are exempt from paying service tax.

Finance Minister II Datuk Seri Amir Hamzah Azizan said the exemption is aimed at reducing the incidence of double taxation and a cascading effect from the tax-on-tax imposition at various levels of the logistics supply chain.

“With the expanded scope of B2B exemption, a freight forwarder, for example, will not only be exempted from paying the tax for freight services (procured from other companies) but is also eligible for exemption for other services such as warehousing, berthing, shipping, and cold chain facilities that are grouped together with the freight services,” he said in his winding-up speech on the Motion of Thanks for the Royal Address in the Dewan Rakyat today.

Hence, the minister said, newly-registered logistics service providers have been given a month to prepare and will only be subject to a 6% service tax starting on April 1, 2024.

“The Finance Ministry hopes this special consideration will further the growth of the country’s logistics sector while ensuring that consumers and businesses are not burdened,” he said.

He added that the ministry will continue to hold engagement sessions with industry players, especially those from the logistics sector, to finalise the amendments to the guidelines for enforcing the tax.

Amir said the government understands the need for industry players to have sufficient time to modify their computing systems.

Previously, the government has given service tax exemptions for logistics services involving direct export of goods, transshipments, transit activities, door-to-door logistics services, and food and beverage delivery services related to e-commerce.

This was based on feedback received following 25 engagement sessions with various stakeholders, including the logistics sector, prior to the implementation of the tax change. – March 11, 2024

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