Malaysia-Sales and Service Tax to be introduced
Following the effective abolition of GST in Malaysia earlier in 2018, the Malaysian authorities have announced the introduction of a sales and service tax which will be effective from 1 September 2018.
The tax will apply to taxable supplies of goods and imports, as well as numerous services. Tax rates for goods will be 5%, 10% or a product specific rate, with tax rates for services being 6%, with a special rate for certain credit card transactions.
The threshold for applying the tax will be RMB 500,000.