Malaysia's new sales tax on items bought online from overseas merchants has drawn mixed reactions, with local sellers saying they welcomed the fairer competition while others raised concerns that the higher prices would burden poorer Malaysians.
In a move aimed at encouraging demand for local products, Malaysia began imposing a new 10 per cent low-value goods (LVG) tax from Jan 1, 2024, on items priced below RM500 (S$140) that are bought online and delivered from abroad.
The government said the new sales tax would help level the playing field for local and overseas sellers by addressing the disparity in their tax treatment.
There is a 6 per cent sales and service tax on locally produced items.
Local business associations have lauded the move, but some shoppers told The Straits Times they may cut their spending.
The Small and Medium Enterprises Association of Malaysia, which has more than 3,500 members, said the tax would allow local sellers to compete, while driving additional revenue to Malaysia that, in turn, would bolster the faltering ringgit.
هذه القصة مأخوذة من طبعة January 05, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة January 05, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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