Update: The Ismail Sabri Government Budget is no longer applicable.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
Current Position
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.
Proposal
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
hired cars
vehicle age is relaxed to at least 5 years from the registration date.
Effective Date
For applications received by the Royal Malaysian Customs Department from 1 March 2023.
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