Consumption/VAT/Sales Tax in Malaysia
- Nature of the Tax
- Sales tax and services tax.
- Standard Rate
- Sales tax is due on taxable goods manufactured or imported by any natural person or legal entity. The present rates of this tax are 5% (non essential food, building materials for exemple) and 10% (normal general rate).
- Reduced Tax Rate
Sales tax exemption for bus operators on purchase of locally assembled buses. Sales tax exemption on solar system equipment system for usage by third parties be given to importers.
- Exclusion From Taxation
- There is no VAT. Products exempt from sales tax are basic essentials, basic foodstuffs, raw materials, basic building materials, farm machinery and heavy construction machinery, tourist goods, sports items, books, newspapers and school books, machinery used to manufacture taxable goods, computers and software.
- Method of Calculation, Declaration and Settlement
- Sales tax is a single stage tax imposed on taxable goods manufactured locally and/or imported. Manufacturers of taxable goods are required to register with the custom authorities and to levy, charge and collect the tax from their customers
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