Minister announces DFTZ tax exemption


Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan(filepic) said currently goods worth RM500 and below purchased through e-commerce were not subjected to any tax..

IPOH: The purchase of goods via the Internet, or e-commerce, worth RM1,200 and below, will be exempted from paying tax in the Digital Free Trade Zone (DFTZ).

Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said currently goods worth RM500 and below purchased through e-commerce were not subjected to any tax.

“This facility aims to reduce tax barriers to enable Malaysians to play an active role in e-commerce not only in the country but also at the international level,” he said.

Ong said this to reporters after attending the Chinese New Year celebration organised by Perak Wanita MCA here.

Also present was Wanita chief Datuk Heng Seai Kie.

At present, he said, there was no policy in which goods worth RM500 and below would not be taxable.

Under the DFTZ, the amount would be raised from RM500 to RM1,200 in the initial stage, he said.

Meanwhile, Ong said, Prime Minister Datuk Seri Najib Tun Razak would launch the DFTZ next month where Alibaba Group chairman Jack Ma will be appointed digital economy adviser to the Government. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Business , DFTZ , tax , e-commerce , purchases , buying , digital , free , trade , zone ,

   

Next In Business News

Human error and shaky grid spark new global-chip supply concerns
Grab’s SPAC vehicle Altimeter near record low
Singapore stocks tumble as strict virus curbs return
Foxconn sees 2Q surge on WFH boom
Ant leapfrogs banks to top China fund sale rankings
Wider vaccination and herd immunity are vital to the recovery
Oil extends loss on India Covid-19 cases, U.S. pipeline restart
Stocks rebound as Fed officials calm inflation fears, for now
Japan Q2 economic growth forecasts cut sharply on coronavirus restrictions
Subang Airport car park upgrading to complete by 3Q, 200 extra parking bays

Stories You'll Enjoy


Vouchers