23/02/2024
📣 ATTENTION 📣
Further to our circular on 30 January 2024, Jabatan Kastam Diraja Malaysia (“Customs”) has issued a Draft Guide for Transitional Change of Service Tax (“ST”) Rate on 07 February 2024
(“Draft Guide”)
Based on the said Draft Guide, Customs has proposed the following transitional rules for the ST rate change from 6% to 8% 😱
However any payments received before Effective Date in relation to any taxable insurance services to be provided on and after Effective Date, the payment amount will be subject to old rate of 6% ❗️