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The SST exemption for new cars under the PENJANA plan was supposed to end on December 31, 2020, but is now extended for another 6 months. This has been confirmed today by the Ministry of Finance.
It was previously reported that the Ministry has issued a memorandum on the extension to the Malaysian Automobile Association (MAA) and the Malaysian Vehicle Importers and Traders Association (PEKEMA).
According to the official announcement, locally assembled (fully downed) vehicles will continue to get a 100% SST exemption, while fully imported (fully built) vehicles will get a 50% exemption up to June 30, 2021. The exemption applies to all passenger cars, including MPVs and SUVs.
Interestingly, it was previously reported that MAA’s request to extend the sales tax exemption was denied. Without the extension, Paultan mentions that new buyers are still eligible for the exemption if they are billed before December 31, and the new car registration must be completed by January 31, 2021.
For those who are still considering buying a new car in the coming months, they can still enjoy substantial savings. This is good news, especially for Proton X50 buyers who are still waiting for their new SUV. As of the end of November 2020, Proton has delivered more than 2,200 units of the X50 compared to the 27,000 total reservations received during the launch month.
