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2025-07-30 11:21:12
[Malaysia abandons plan to implement high-value goods tax] Malaysia has abandoned plans to set up a separate tax on high-value goods, a proposal that was first announced about two years ago. The Southeast Asian country has chosen to include luxury goods and non-essential goods in its existing sales tax system, the Malaysian Ministry of Finance said in a written reply to Parliament on Tuesday. The written reply was in response to a question about the government's fiscal reforms and the expected increase in national revenue brought by the new tax. The Malaysian Ministry of Finance said that under the sales tax framework revised in July, such goods will now be taxed at a rate of 5% or 10%, reflecting the original intention of the shelved luxury tax. The high-value goods tax, also known as the luxury tax, was originally proposed in the revised 2023 budget, but its implementation has been postponed.
