New automotive policy to address tax gap
August 9th, 2005 at 11:46am tiger Category : Auto News, Malaysia
The Long waited National Automotive Policy (NAP) may come out as early as this week.
Good news is Taxes for CKD ( complete knocked down) and CBU( complete build up) cars may be brought down. But how true was it still dont know.
CBUs, which are subjected to import and excise duties, could see reduction in import duties. Excise duties on CBUs are likely to depend on the overall percentage gained by the CKD segment.
The net result is that excise duties could be almost the same for CKD and CBU cars, or lower for CKD units, if import duties are not reduced for car kits.
“The Government wants to ensure that car prices remain unchanged and no new tax is expected,� said a source familiar with the NAP.
IF what the news said is true meaning that the long waited NAP car prices has no suprise. wheather you buy now or later the NAP announce is the same. No Raise in car prices as rumour saying that Car Prices will Raised after NAP announced recently.
Read the complete story from thestar
Read the Policy On Approved Permit (AP) and Tax For Motor Vehicle from MITI