Malaysia cuts car import duty, imposes excise duty

Newswire

KUALA LUMPUR, Dec 31 (Reuters) - Malaysia on Wednesday cut import duties on cars to between 70 and 200 percent but imposed excise duties of 60 to 100 percent to help offset revenue fall from lower import duties. The much-awaited tax changes will take effect on Thursday, the Prime Minister's Office said in a statement. Malaysia is Southeast Asia's second biggest car market. Currently, Malaysia imposes duty of up to 300 percent on foreign imports as part of government policy to protect ...

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