News & Reviews:   low value goods tax

The Ministry of Finance (MOF) revealed that the Digital Service Tax raked in RM1.6 billion in revenue in 2024. MOF announced the figure in a written Parliamentary reply yesterday (18 February) to a question by Bera MP and former Prime Minister Datuk Seri Ismail Sabri Yaakob.

The Malaysian government is reportedly set to impose tax on imported low value goods (LVG) starting from 1 January 2023. As of right now, any goods imported using air courier services through selected airports are exempted from sales tax and custom duty should the value not exceed RM500 per consignment.