The Excise Duties (Payment of Premix Preparation) Order 2024 sets out the rates and payment method for excise duties on premix preparation by licensed manufacturers and licensees.
It also includes provisions for securing the payment of excise duty and revoking a previous order.
The order was made on 15 January 2024 and will be effective from 1 March 2024.
The purpose of the Excise Duties (Payment of Premix Preparation) Order 2024 is to specify the excise duty rates for premix preparation, outline the method of payment for these duties by licensed manufacturers and licensees, allow for the provision of security for the payment of excise duty, and to revoke the previous Excise Duties (Premix Preparation) (Payment) Order 2022.
Regarding the payment method, the licensed manufacturer or licensee who removes the premix preparation from the licensed place or licensed warehouse for consumption within Malaysia must pay the excise duty not later than the last day of the following month from the removal of the premix preparation.