ANNOUNCED AS TEMPORARYNo
On 28 February2013, the Malaysian Minister for International Trade and Industry, Datuk Seri Mustapa Mohamed, announced a reduction of import duties on cars from Japan and Australia. The duty will gradually decrease from 30% to 0% in 2016. In 2013, a 15% rate, in 2014 a 10% rate and in 2015 a 5% rate will be applied, respectively.
'The move will benefit consumers by reducing prices of cars over the long term. But the overall impact will likely be minimal given that most Japanese cars are assembled in Thailand-where they are already exempted from paying import duties under the Asean Free Trade Agreement-before being shipped to Malaysia'Aishah Ahmad, president of the Malaysian Automotive Association
Even though Malaysia has an FTA with Australia as well as Japan that also covers the reduction of import duties on cars, this measure represents an exceptional adjustment.
⚑ Please report this page in case you detect an inaccuracy in its content.