Malaysia’s vehicle sales tax holiday will end on June 30, but buyers who book by then have until March 31, 2023, to register and benefit from the exemption. Finance Minister Tengku Zafrul cited global microchip shortages and supply disruptions delaying vehicle deliveries. The exemption has boosted automotive sales, totalling RM4.7 billion in tax savings across 868,422 vehicles. Proton’s Roslan Abdullah noted that ending the exemption will drive short-term sales while allowing the government to recoup tax revenue.AUTOMOTIVE SECTOR ON THE ROAD TO RECOVERY
Malaysia’s vehicle sales tax holiday will end on June 30, but buyers who book by then have until March 31, 2023, to register and benefit from the exemption. Finance Minister Tengku Zafrul cited global microchip shortages and supply disruptions delaying vehicle deliveries. The exemption has boosted automotive sales, totalling RM4.7 billion in tax savings across 868,422 vehicles. Proton’s Roslan Abdullah noted that ending the exemption will drive short-term sales while allowing the government to recoup tax revenue.
