Customs Duties or A tax charged on certain goods which are brought into a coun... and taxes will be pending and need to be cleared while importing goods into Malaysia Either by a private individual or a commercial entity.
The valuation method is CIF.
- The A tax charged on certain goods which are brought into a coun... and taxes payable are calculated on the complete shipping value, which includes the cost of the imported goods, the cost of freight and the cost of insurance.
- In addition to duty, imports are also subject to Known as VAT (Value Added Tax) in the UK. A tax based on the... and some products are to excise duty as well.
Below is the Duty and Known as VAT (Value Added Tax) in the UK. A tax based on the... for Malaysia :
|Duty Rates||Average Duty Rate||Sales Tax(GST)||Threshold on goods|
|0% to 50%||5.74%||ST=6%
VAT = ST * (CIF + Duty+ other taxes)
|No duty, if CIF value is less than or equal to MY$ 500(with the exception of alcohol, wine and tobacco products from USA).|
- Duties for some products are also based on quantity measurements, like weight or volume.
- Import duties are generally levied on an ad valorem basis but may also be imposed on a specific basis. The ad valorem rates of import duties range from 2% to 60%. Raw materials, machinery, essential foodstuffs, and Relating to or engaged in the process of making and selling ... products are generally non-dutiable or subject to duties at lower rates.
- Some electronic products like laptops, electric guitars are not subjected to duty and some products are free from Known as VAT (Value Added Tax) in the UK. A tax based on the...
- There is no threshold on sales and excise duties.
Excise duties are imposed on a selected range of goods manufactured and imported into Malaysia. Goods that are subject to excise duty include beer/stout, cider and perry, rice wine, mead, un-denatured ethyl alcohol, brandy, whisky, rum and tafia, gin, cigarettes containing tobacco, motor vehicles, motorcycles, playing cards, and mahjong tiles.
The rate of excise duties vary from a composite rate of MYR 0.1 per litre and 15% of the value for certain types of spirituous beverages, to as much as 105% of the value of motorcars (depending on engine capacity).
Please refer detailed information on other taxes of Malaysia.