In response to Budget 2024, the Minister of Finance has announced a significant rise in the service tax rate on digital services provided by Foreign Registered Persons to consumers in Malaysia. The tax rate will surge from 6% to 8%, taking effect from March 1, 2024. To ensure a smooth transition, the Royal Malaysian Customs Department (RMCD) is set to release corresponding guidelines. Foreign Registered Persons are urged to promptly review and adjust their arrangements in light of this impending tax rate change.
Source: gov.my
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Source Link: https://www.globalvatcompliance.com/globalvatnews/malaysia-digital-service-tax/
Digital Service Tax set to increase on foreign services:
In response to Budget 2024, the Minister of Finance has announced a significant…
