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In a new twist, the government has announced through a memorandum issued to the Malaysian Automobile Association (MAA) and the Malaysian Vehicle Importers and Dealers Association (PEKEMA) that there will be an extension of the exemption period from the tax on new vehicle sales through June 30. , 2021. Since then we have consulted with MAA, who confirmed the matter.
The sales tax exemption, which has been in effect since June 15, was originally scheduled to end on December 31 of this year. According to the memorandum, the sales tax exemption percentage remains unchanged from previously announced, with 100% for locally assembled cars (CKD) and 50% for fully imported cars (CBU).
Not long ago, the Malaysian Automobile Association (MAA) revealed that a request to extend the sales tax exemption period was denied, but it appears the government has changed its mind.
The new vehicle sales tax exemption is part of the government’s Penjana program to stimulate demand in the local auto market. The sales tax exemption has resulted in reduced prices for passenger cars, although pick-up trucks are not eligible because they are classified as commercial vehicles.
Another change of direction that we reported recently relates to the government’s decision not to change excise regulations for CKD cars, which would have resulted in an increase in prices for CKD cars, had it been implemented. . With both ads, it seems like car buyers have more initiative to make their purchase, do you too?
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