Recently,Malaysian Prime Minister Anwar announced that next yearLuxury goods tax will be implemented from May, with a tax rate of 5% to 10%,To promote the tourism industry, the government does not impose luxury goods taxes on tourists.

The main taxes currently in Malaysia include income tax, real estate profit tax, import and export tax, export tax, sales and service tax, stamp duty, etc.

Luxury tax is a special tax levied on high-value luxury goods. Its main purpose is twofold: on the one hand, it is to increase the government's tax revenue to meet public needs and social welfare; On the other hand, by adjusting the price of luxury goods, consumers' purchasing behavior is influenced, achieving the goals of resource allocation and social equity.

collectionLuxury tax helps to narrow the wealth gap and achieve social equity. High priced luxury goods are subject to higher tax rates, making the wealthy pay more taxes when purchasing luxury goods, thereby sharing the social burden and providing more social welfare for vulnerable groups.

Through the collection of luxury goods tax, the government can regulate and regulate the luxury goods market. The introduction of taxes can limit excessive luxury consumption in the market, reduce excessive waste and unreasonable resource allocation.

February 24thAnhua has alreadySubmission2023 Financial Budget,It indicates that the government will levy a luxury goods tax, but it has not been implemented due to various reasons afterwards. At that time,MalaysiaTourists are concerned that the government's tax on luxury goods will weaken Malaysia's attractiveness as a shopping hotspot.

As for whether the closely watched consumption tax will be restarted, Anhua pointed out in a written response to inquiries from lawmakers that the government currently has no intention of restarting the consumption tax.

April 1, 2015,MalaysiaFormer Prime Minister and Finance Minister NajibonceStart collectionA consumption tax of 6%. May 2018,Ximeng was elected to power in the same yearOn July 29th, legislation abolished the consumption tax, but at the same time, new policies were introduced to levy a 10% sales tax and a 5% service tax.

October 13th,Anhua AnnouncesBefore the 2024 budget, many political parties called for the government to reintroduce consumption tax next year to increase government revenue. However, when Anhua announced the budget, it did not restart the consumption tax. He only increased the service tax rate from 6% to 8%, which does not include services such as food and beverage and telecommunications.