The Royal Malaysian Customs Department (“RMCD”) has announced on its website that the Sales Tax on LVG, which had been deferred previously, will be effective from 1 January 2024.
RMCD has also issued a new Guide on Sales Tax on LVG (“the LVG Guide”) dated 3 November 2023, which sets out the key points on the mechanism of the LVG. In line with this and pending the ‘Appointment of Effective Date for Charging and Levying of Sales Tax on LVG’, we have prepared a summary of the salient points for sellers and buyers of goods from overseas, as well as importers and Customs agents, to consider.
Please click on the above header link for the salient points and a copy of the LVG Guide.
Our highlights are intended to provide a general overview of the key proposed tax changes and should not be used or relied upon as a substitute for detailed advice or as a basis for formulating business decisions.
