The Ministry of Finance (MOF) has announced that the car Sales and Service Tax (SST) exemptions will not be extended beyond its 30th June 2022 dateline.
The SST exemptions were first announced in June 2020. So far, 868,422 vehicles were sold during this period, with a total of RM4.7 billion in tax exemptions.
Also in the press release by the MOF, it was noted that there are over 264,000 vehicles booked but still not delivered during the exemption period.
“With the reopening of the economy, the automotive industry has returned to its usual operations however there are subtantial new vehicle bookings that have yet to be fulfilled due to the global supply chain disruptions and semi-conductor chip shortages,” MOF stated.
Therefore, it was also announced that those who book a new vehicle vehicle during the SST exemption period and register their new vehicles with the Jabatan Pengangkutan Jalan Raya (JPJ) by the 31st of March 2023, can still benefit from SST exemptions.