Online retail companies have started collecting low-value goods (LVG) taxes on imported goods below 500 RM (108.64 USD). (Photo: nst.com.my)
Kuala Lumpur (VNA) – Online retail companies in Malaysia have started collectinglow-value goods (LVG) taxes on imported goods below 500 RM (108.64 USD).
Shoppee, one of the big e-commerce online shoppingcompanies, has issued a notice saying that the platform started collecting theSales Tax since January 1, 2024.
Apart from Shoppee, other platform🤡s including Lazada and༺ China-basedonline retail giant Aliexpress have also started to impose the same tax.
Sea Limited Malaysia country head Terence Siau said theintention aims to support the government's call to empower local businesses,particularly the micro, small, and medium enterprises (MSME). He acknowledged that Shopee has fullyimplemented the sales tax on imported low-value goods, serving as a catalystfor domestic MSME growth, reflecting a shared commitment to strengthening thelocal business landscape through proactive collaboration and alignment withregulatory measures.
Malaysia’s Departmentof Customs on December 16, 2023 announced that the country will start charging a 10% sales tax on LVG sold online from Jan1, 2024.
The department defi♌nes the LVGas all goods – excluding cigarꦏettes, tobacco products, intoxicating liquors,electronic cigarettes, and preparation of a kind used for smoking – which aresold at a price not exceeding 500 RM, and are brought into Malaysia by land,sea or air./.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Online retail companies have started collecting low-value goods (LVG) taxes on imported goods below 500 RM (108.64 USD). (Photo: nst.com.my) 
