Needless to say, e-commerce has become the most prominent digital platform that facilitates day-to-day business with some categories solely relying on Internet-based transactions to keep their families fed and companies going forward
Capitalizing on the widespread mainstream of online sales in Malaysia, Dewan Rakyat has passed the new Sales Tax (Amendment) Bill 2022 that imposes a flat 10% sales tax for goods acquired online and/or delivered to Malaysia by any vendors that have registered with the finance ministry.
Therefore, starting next year, anything that is priced RM500 or lower, or technically referred to as the ‘Low-Value Goods’ (LVG), is getting the fat 10% stamp smothered over them.
And for those who thought of just buying over RM500 per transaction receipt, I don’t think that works as it was taxed directly on the items and not over a certain total amount so group buying fellas, you’re out of luck as well.
Well, time to sleep through the morning to skip breakfast all along I guess.
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