The Malaysian government announces tweaks to its tax structure for motor vehicles – effective immediately – in conjunction with the announcement of the National Automotive Policy Framework. Policy makers say the method of calculating excise duty on completely built-up vehicles will convert to a “tax on tax” basis. Previously, the excise duty was applied on the cost, insurance, freight (CIF) value of CBU vehicles. Under the new system, the excise duty now will be applied on the CIF value ...
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