In the 2020 Budget announced on 11 October 2019, the AMES was proposed to allow approved traders and manufacturers of exempted goods who export not less than 80% of their annual sales, to enjoy the following benefits:
The relevant legislation was subsequently introduced as Part IXA of the Sales Tax Act 2018, which comes into operation on 1 July 2020. On 30 June 2020, the Sales Tax Regulations 2018 was also amended to introduce Part IXA, and is effective 1 July 2020.
In conjunction with the above, the Royal Malaysian Customs Department (“RMCD”) has issued an announcement with regards to the conditions as well as application form for AMES on its official website for Sales Tax and Service Tax (“MySST”). Please note that the conditions as well as application form are currently available in Bahasa Malaysia only.
For more details, please refer to our Tax Whiz which can be accessed via the above link.
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
Ng Sue Lynn
Dato’ Tan Sim Kiat
Yap Choon Ling