Government fine-tuning high-value goods tax implementation

KUALA LUMPUR: The Dewan Rakyat was told that policies and legal frameworks related to the High-Value Goods Tax (HVGT) are currently being fine-tuned.

The Finance Ministry said this is to ensure the tax is implemented orderly and transparently.

In a parliamentary written reply dated Wednesday (July 10), the Ministry said HVGT implementation would also align with international practices and tax principles while ensuring no impact towards economic activities and the people’s wellness.

The Finance Ministry added that HVGT implementation has been postponed to a later date.

The date will be decided by the Cabinet.

It was initially slated to commence beginning May 1, 2024.

The Ministry was responding to Datuk Seri Dr Wee Ka Siong’s (BN-Ayer Hitam) question about the HVGT's current status.

Dr Wee also asked about which aspects of the HVGT are being studied for improvement by the government.

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