Array
(
    [_edit_lock] => Array
        (
            [0] => 1711614672:21
        )

    [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-97695
        )

    [_molongui_main_author] => Array
        (
            [0] => guest-97695
        )

    [td_post_theme_settings] => Array
        (
            [0] => a:2:{s:14:"td_primary_cat";s:3:"599";s:11:"td_subtitle";s:82:"Bill for the new tax was not tabled in the Parliament sitting that ended yesterday";}
        )

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

    [_yoast_wpseo_metadesc] => Array
        (
            [0] => The high-value goods tax (HVGT) on luxury items may not be imposed on May 1 as originally scheduled, due to disagreements on the definition of such goods, The Edge reports.
        )

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

    [_yoast_wpseo_estimated-reading-time-minutes] => Array
        (
            [0] => 1
        )

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

    [_thumbnail_id] => Array
        (
            [0] => 182567
        )

    [_yoast_wpseo_focuskw] => Array
        (
            [0] => high-value goods tax
        )

    [_yoast_wpseo_linkdex] => Array
        (
            [0] => 63
        )

    [post_views_count] => Array
        (
            [0] => 306
            [1] => 306
        )

    [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:3:{s:4:"date";s:10:"1751956707";s:5:"count";i:1;s:14:"per_hour_count";a:1:{i:6;i:1;}}i:2;a:3:{s:4:"date";s:10:"1751430017";s:5:"count";i:2;s:14:"per_hour_count";a:2:{i:21;i:1;i:4;i:2;}}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:2:{s:4:"date";i:0;s:5:"count";i:0;}i:6;a:2:{s:4:"date";i:0;s:5:"count";i:0;}}
        )

    [post_view_7days_last_day] => Array
        (
            [0] => 1
        )

    [post_views_count_7_day_last_date] => Array
        (
            [0] => 1751956707
        )

    [post_views_count_7_day_total] => Array
        (
            [0] => 3
        )

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

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

)
High-value goods tax on hold? Govt, retailers reportedly disagree on definition, price range | Scoop
The high-value goods tax was announced in Budget 2024 with implementation slated for May 1 at a rate of between 5% to 10%. – Scoop pic, March 28, 2024
News

High-value goods tax on hold? Govt, retailers reportedly disagree on definition, price range

Bill for the new tax was not tabled in the Parliament sitting that ended yesterday

Scoop Reporters
Updated
4:31 PM MYT

 

KUALA LUMPUR – The high-value goods tax (HVGT) on luxury items may not be imposed on May 1 as originally scheduled, due to disagreements on the definition of such goods, The Edge reports.

Citing sources, the business paper said the government, retail industry and tax experts also cannot agree on the price range of the items to be taxed.

Consultations on the tax with stakeholders have been held but no outcome of these talks were reported, and notably, the bill for the tax was not tabled in the Parliament sitting that just ended yesterday.

Without a law on the HVGT, it cannot be implemented as scheduled on May 1, The Edge cited a tax consultant as saying.

The HVGT was announced in Budget 2024 with implementation slated for May 1 at a rate of between 5% to 10%.

As of February 29, the bill appeared to be on track, with the Finance Ministry in a parliamentary written reply saying the bill would be tabled in the current parliamentary session. The session was from February 27 till yesterday.

Parliament will reconvene on June 24 and sit until July 18.

The Finance Ministry also said that the luxury goods tax would earn the government RM700 million annually. – March 29, 2024

Topics

 

◉ Popular

‘Hot Daddy,’ two female companions charged with selling porn videos

A man and his two female companions were charged in the magistrates’ court here today with selling pornographic video recordings.

AirAsia’s Fernandes courts controversy again, this time over jab at refund seekers

AirAsia boss Tan Sri Tony Fernandes is in the firing line again, this time for taking a jibe at customers who “moaned about a refund”.

Petronas sebagai jantung strategi geoekonomi Malaysia berdepan ancaman perang Trump – Wan Fayhsal

Jangan jadikan Petronas sekadar alat tunggangan untuk nafsu serakah politik yang sempit kelak kita sekadar sesal pendapatan, sesal kemudian tiada berguna

◉ Related

Copyright © 2023. All rights reserved.