GCMY is organising a Corporate Sustainability Practitioners Dialogue (via webinar) to ideate, discuss and to network on sustainability initiatives post Covid recovery.
Event is on 14th April at 1030am. For more info and to register pls see PDF below:
These are the latest FAQs by Ministry of International Trade And Industry (MITI) on Movement Control Order (MCO).
Read Full:
Small and medium enterprises (SMEs) are the backbone of the Malaysian economy, contributing almost 40% of the nation’s Gross Domestic Product (GDP) and employing two-thirds of the Malaysian workforce. Further to the announcements on 27 February 2020 and 27 March 2020 of the Economic Stimulus Packages (ESPs) totalling RM250 billion, various interest groups had requested the Government to provide additional support in certain areas, especially to the SMEs.
The Government has considered the feedback and announced on 6 April 2020 an additional RM10 billion stimulus package to support businesses, particularly the SMEs. In this article, some of the key measures proposed in the additional stimulus are discussed.
Below are the articles by Tay & Partners in relation to COVID-19:
1. Covid-19: A Case for Compulsory Licensing
2. HAS THE GOVERNMENT’S PRIHATIN STIMULUS PACKAGE ACCELERATED RETRENCHMENT?
3. CORONAVIRUS AND THE WORLD ECONOMY: AN INSOLVENCY AND RESTRUCTURING PERSPECTIVE
4. CORONAVIRUS PANDEMIC AND ITS LEGAL IMPACT ON CONTRACTS IN MALAYSIA
On 1 April 2020, the following Orders in relation to Indirect Tax (i.e., sales tax, excise duty and customs duty) as well as Price Control and Anti-Profiteering, were published in the Official Gazette. Kindly note that the said Orders are effective from 1 April 2020 onwards.
- Customs Duties (Exemption) 2017 (Amendment) (No.2) Order 2020
- Sales Tax (Person Exempted From Payment of Tax) (Amendment) Order 2020
- Excise Duties (Exemption) 2017 (Amendment) Order 2020
- Price Control and Anti-Profiteering (Determination of Maximum Price) (No. 2) (Amendment) Order 2020
Please find below the salient points of the amendments to the above-mentioned Orders, for your kind attention:
| Order | Key amendments | |||||||||
| Customs Act 1967 · Customs Duties (Exemption) 2017 (Amendment) (No.2) Order 2020 | · Item 10, Part I, Schedule of Customs Duties (Exemption) Order 2017 ► This item has been amended to provide further clarity on prescribed goods brought in by any person entering Malaysia (other than Labuan, Langkawi, Tioman and Pangkor) through all modes excluding air, that are subject to the prescribed conditions. ► The conditions have been amended to include several additional conditions, i.e., the goods are imported and purchased from any duty-free shops licensed under Section 65D of the Customs Act 1967; and the duty-free shop is located at any entry point.
· Item 10A, Part I, Schedule of Customs Duties (Exemption) Order 2017 ► This additional item provides for the exemption from Customs duties of certain goods brought in by any person entering Malaysia (other than Labuan, Langkawi, Tioman and Pangkor) by air. ► Subject to meeting the conditions as prescribed, the exempted goods are: a. Wine, spirit, beer or malt liquor not exceeding one (1) litre in total; b. Tobacco product not exceeding 225 grams (equivalent to 200 sticks of cigarettes); c. New apparel not exceeding three (3) pieces; d. New footwear not exceeding one (1) pair; e. Food preparations to a total value not exceeding RM150; f.New portable electric- or battery-operated appliances for personal care and hygiene not exceeding one (1) unit each; g. All goods other than the goods specified in (a) to (f), excluding tyres and tubes, to a total not exceeding RM1,000
· Item 11, Part I, Schedule of Customs Duties (Exemption) Order 2017 ► The threshold of the goods which are exempted under this item, specifically under Column (3)(vi) – all other goods other than those specified in this column, excluding tyres and tubes, has been increased from a value not exceeding RM500 to a total value not exceeding RM1,000. ► The conditions have been amended to include several additional conditions (i.e., the goods are purchased from Labuan, Langkawi, Tioman or Pangkor; and the goods are purchased and transported on or in the baggage of the person).
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| Sales Tax Act 2018 · Sales Tax (Person Exempted from Payment of Tax) (Amendment) Order 2020 | · Item 16, Schedule A of Sales Tax (Person Exempted from Payment of Tax) Order 2018 ► Sub-item (g) has been amended to expand the category of exempted goods for all goods other than those specified in column (3), excluding tyres and tubes, with a total value not exceeding – i. RM500, if the goods are imported from other countries; or ii. RM1,000, if the goods are purchased from duty-free shops licensed under Section 65D of the Customs Act 1967 and located at several international airports in Malaysia (e.g., KLIA, Subang Airport, etc.) ► Additional conditions have also been introduced (e.g., the prescribed goods are purchased from any duty-free shops at the above-mentioned international airports in Malaysia).
· Item 17, Schedule A of Sales Tax (Person Exempted from Payment of Tax) Order 2018 ► The threshold of the goods which are exempted under this item, specifically under Column (3)(g) – all other goods other than those specified in this column, excluding tyres and tubes, has been increased from a value not exceeding RM500 to a total value not exceeding RM1,000. ► Additional conditions have also been introduced (e.g., the goods are to be transported on or in the baggage of the exempted person).
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| Excise Act 1976 · Excise Duties (Exemption) 2017 (Amendment) Order 2020 | · Item 36, Part I, Schedule of Excise Duties (Exemption) Order 2017 ► The amendment seeks to provide further clarity on the prescribed goods brought in by any person entering Malaysia (other than Labuan, Langkawi, Tioman and Pangkor) through all modes, excluding air, that are subject to the prescribed conditions. ► Additional conditions have also been introduced (e.g., the prescribed goods are purchased from any duty-free shops licensed under Section 65D Customs Act 1967 etc.).
· Item 36A, Part I, Schedule of Excise Duties (Exemption) Order 2017 ► In line with the amendments made to Item 36, this provision has been introduced to clarify the excise duty exemption for prescribed goods brought in by any person entering Malaysia (other than Labuan, Langkawi, Tioman and Pangkor) by air, that are subject to the prescribed conditions.
· Item 37, Part I, Schedule of Excise Duties (Exemption) Order 2017 ► The conditions for prescribed goods brought in by any person entering Malaysia from Labuan, Langkawi, Tioman and Pangkor have been substituted to provide further clarity on excise duty exemption for goods purchased from Labuan, Langkawi, Tioman or Pangkor.
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| Price Control and Anti-Profiteering Act 2011 · Price Control and Anti-Profiteering (Determination of Maximum Price) (No. 2) (Amendment) Order 2020 | · The Order seeks to amend the maximum price for 3-ply (ear loop/head loop/head tie-on) face masks (surgical/medical), as follows:
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Kindly be informed that the full and complete copies of the Orders can be found in the official link of the Federal Gazette website.
Should you require any further clarification or if you have any enquiries, please do not hesitate to contact us.
Below is a compilation of articles by law firm Azmi & Associates surrounding the Covid-19 impact in Malaysia.
1. COVID-19 in the Workplace: The Malaysian Position
2. COVID-19: A Force to Invoke Force Majeure?
3. Tesco’s USD10b Sale as Asia’s Biggest 2020 Deal: A Competition Law Perspective
5. COVID-19: Frustration of Contract?
6. COVID-19: Impact on Entering Into and/or Completing of Mergers & Acquisitions (M&A) Transactions
8. COVID-19 Lockdown: Legal Perspectives for Development Projects
10. COVID-19: The Effects on the Malaysian Capital Market
11. COVID-19: Impact on Mergers and Acquisitions in Malaysia
12. Malaysian Tax Reliefs and COVID-19
13. COVID-19 Pandemic: Insurance Implications
