Excise Duty and Sales Tax Exemption on the Sale or Transfer of Individually owned Taxis & Hired Cars
Updated: Jul 15
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia's national budget for 2023 was re-tabled again in February 2023.
To Download Revised Budget 2023 Speech and some other related publications - https://www.ccs-co.com/post/budget-2023-malaysia-madani
In Budget 2012, excise duty and sales tax exemption were given on the sale/transfer/private use/disposal of budget taxis and hired cars subject to the following conditions:
limited to individually owned budget taxis and hired cars only; and
age of the vehicle must exceed 7 years from the date of registration.
To assist individual taxi owners affected by the COVID-19 pandemic, it is proposed excise duty and sales tax exemption on the sale/transfer/private use/disposal of individually owned taxis and hired cars be reviewed as follows:
exemption granted based on these licenses and services:
taxis (budget taxis, executive taxis and TEKS1M);
airport taxis (budget and family); and
vehicle age is relaxed to at least 5 years from the registration date.
For applications received by the Royal Malaysian Customs Department from 1 March 2023.
Our website's articles, templates, and material are solely for reference. Although we make every effort to keep the information up to date and accurate, we make no representations or warranties of any kind, either express or implied, regarding the website or the information, articles, templates, or related graphics that are contained on the website in terms of its completeness, accuracy, reliability, suitability, or availability. Therefore, any reliance on such information is strictly at your own risk.
Keep in touch with us so that you can receive timely updates |
6. LinkedIn ✍ https://www.linkedin.com/company/74734209/admin/