Sales tax exemption for new cars is extended for another 6 months!
The sales tax exemption for new cars will be extended for another six months to June 30, 2021. According to automotive media Paultan.org, the government extended the sales tax exemption for new cars until June 30, 2021. The Ministry of Finance of Malaysia has sent a memorandum to the Malaysian Automobile Dealers Association (MAA) and the Malay Automobile Trade and Importers Association (PEKEMA).
In order to stimulate the domestic automobile consumer market, the government announced at the beginning of the year that locally assembled vehicles (CKD) would be exempted from 100% sales tax, and imported vehicles (CBU) would be exempt from 50% sales tax. This measure will be officially implemented on June 15, 2020, and will end on December 31, 2020.
The government originally announced that it would not extend the car sales tax exemption until 2021, but now the government has once again turned U and allowed new cars to be exempt from sales tax until June 30, 2021. This means that Malaysia can still enjoy 100% sales tax exemption for locally assembled vehicles (CKD) and 50% sales tax exemption for imported cars (CBU) for new cars purchased before June 30, 2021.
If you are planning to buy a new car, then you have more time to achieve this goal without the sales tax exemption.
