Malaysia will impose a 10% sales tax on Low-Value Goods (LVG) sold online starting January 1, 2024, as announced by the Royal Malaysian Customs Department. Initially slated for April 1, 2023, the LVG tax implementation was deferred to January 1, 2024. LVG includes items under RM500, excluding tobacco, alcoholic beverages, and e-cigarettes. Online sellers handling LVG transactions must register with the Customs Department if sales exceed RM500,000 in 12 months. The effective date was set by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim on December 4, 2023. For details, visit http://www.customs.gov.my/en/pages/main.aspx. Source: BERNAMA.
January 11, 2024 - BY Admin
