Sales Tax to be Levied on Low Value Goods
Are you a local or foreign seller of low value goods? You may be required to charge Sales Tax on your goods from 1st April, 2023.
The Sales Tax (Amendment) Act 2022 has come into force and along with it the new regulations imposed on sellers of low value goods.
According to the Act:
Any person whether in Malaysia or a foreigner;
who sells Low Value Goods (LVG)
brought into Malaysia by land, sea, or air, and
the total sales of the LVGs exceeds RM500,000 in a year
is required to register as a Registered Seller starting 1st January 2023, and will be required to levy a sales tax on their goods starting 1st April, 2023.
If you're unsure if your business falls within this category, or if you need assistance registering, give us a call or text today.