The Finance Ministry has announced that an excise duty and two taxes under Budget 2022 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 with a sugar content over 33.3g/100g, 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 require 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, it 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 was meant for equal treatment to local and imported goods.
- Bernama
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.