Sales tax exemption on cars extended to June 30


The sales tax exemption for passenger cars including MPVs and SUVs will be extended until June 30 next year, the Ministry of Finance (MoF) said.

KUALA LUMPUR: The sales tax exemption for passenger cars including multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs)will be extended until June 30 next year, the Ministry of Finance (MoF) said.

In a statement on Tuesday, the MoF the exemption was to continue to drive the momentum in the development of the automotive sector.

The 100% exemption will be for locally assembled or completely knocked down (CKD) cars.

As for new imported completely built-up (CBU) cars and second-hand units, including MPVs and SUVs, the exemption will continue to be 50%.

“This exemption will be effective from Jan 1,2021 to June 30,2021, ” it said.

According to Bernama, currently, the sales tax for vehicles is set at 10% for both locally assembled and imported cars.

With the exemption, it means that the sales tax is fully waived for the purchase of locally assembled cars while a 5% tax is imposed on imported cars.

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MoF , sales tax exemption , extension , CBU , CKD

   

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