New Tax On Low Value Goods

Starting Jan 1st, 2024, a 10% tax will be levied on the online purchases of goods from overseas costing below RM500. This is ostensibly aimed at providing a level playing field for local retailers, who have received strong competition from overseas retailers on online shopping portals like Lazada and Shopee, while replenishing the nation's coffers. We speak to Senthuran Elalingam, Indirect Tax Partner at Deloitte for his take on how this new LVG tax would work.

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