KUALA LUMPUR, March 21 — The Ministry of Finance (MOF) has announced that an excise duty and two taxes under Budget 2022 that were scheduled to be implemented this year will be delayed to a date to be announced later.
The delay involved the excise duty on pre-mixed products that have sugar content over 33.3 grammes/100 grammes, service tax on the delivery of goods, and a sales tax on low value goods (LVG).
“These three initiatives were recommended to begin in 2023, however, taking into consideration the needs of industries that need more time to prepare, especially micro, small, and medium enterprises (MSMEs), there is a need to set a new date for their implementation,” the ministry said in a statement.
Besides, MOF said the delay would also give the government time to refine the legal aspects of the three initiatives for smooth implementation.
In Budget 2022, the government announced the excise duty for pre-mixed products to curb the rise of diabetes and obesity.
The service tax on deliveries aims to provide equal treatment among delivery providers while the tax on LVG aims to provide equal treatment to local and imported goods. — Bernama
