The implementation of a 10% sales tax on low-value goods (LVG) costing RM500 and below sold online is expected to allow local businesses to market their products of the same quality at an even selling price, thus boosting consumer demand. The tax which is set to commence on Jan 1, 2024, aims to stabilise prices between imported and local goods, says analyst.
The implementation of a 10% sales tax on low-value goods (LVG) costing RM500 and below sold online is expected to allow local businesses to market their products of the same quality at an even selling price, thus boosting consumer demand .
The tax which is set to commence on Jan 1, 2024, aims to stabilise prices between imported and local goods, says analyst.
Sales Tax Low-Value Goods Online Retail Local Businesses Consumer Demand