Revamped tax regime: Government scraps high-value goods tax plan

Soh Lian Seng, Head of Tax at KPMG in Malaysia, appeared on TV3 to discuss the government’s move to shelve the standalone High-Value Goods Tax (HVGT) in favor of expanding the Sales and Service Tax (SST) system.

He noted that the SST expansion is expected to generate significantly higher revenue and emphasized that any future luxury tax would require clearer guidelines on the scope of taxable goods, valuation thresholds, and enforcement. He added that Malaysia’s fiscal approach should continue to balance efficiency, fairness and compliance without placing undue burden on businesses and the rakyat .

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