The Ministry of Finance (MOF) of Malaysia addresses reports suggesting a 30% increase in vehicle prices starting in 2026 due to the full implementation of the New Excise Tax Regulations.
The Ministry of Finance (MOF) in Malaysia has issued a statement clarifying concerns about a potential 30% surge in vehicle prices starting in 2026. The statement refutes reports suggesting a sudden price increase following the full implementation of the New Excise Tax Regulations. The MOF emphasizes that the report is inaccurate and the matter is still under review by the government.
The ministry assures Malaysians planning to purchase a new car next year that they are not anticipated to face higher prices. The MOF, in collaboration with the Ministry of Investment, Trade and Industry (MITI) and key players in the automotive industry, is actively reviewing methods for vehicle assessment. The aim is to establish fairer, more uniform, and neutral procedures. This review is crucial to ensure that the implementation of excise taxes does not disproportionately burden the public and maintains a competitive automotive industry.The proposed increase in vehicle prices has garnered significant public attention, raising concerns about its potential impact on the local automotive market. This includes a possible decline in new vehicle sales and a ripple effect on related industries. The MOF's statement seeks to alleviate these concerns and provide clarity on the government's stance regarding future vehicle price adjustments
Vehicle Prices Malaysia Excise Tax Ministry Of Finance Automotive Industry
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