Malaysia: Updated customs duties order covering new emerging products

In line with the release of the seventh edition of the Harmonized System (HS 2022) by the World Customs Organization (WCO)

Covering new emerging products

The Ministry of Finance on 15 April 2022 issued the new Customs Duties Order 2022, effective 1 June 2022, that will supersede the existing Customs Duties Order 2017.

This new customs duties order is in line with the release of the seventh edition of the Harmonized System (HS 2022) by the World Customs Organization (WCO).

It has been updated with a total of 351 sets of amendments covering different new emerging products such as drones, smartphones, and vapes, in line with the everchanging trade patterns and technology.

KPMG observation

It is expected that importers of such products will be affected with the implementation of the new customs duties order, especially those dealing with agricultural, chemical, wood, textile, metal and machinery goods. Importers need to take the necessary steps for accurate declaration of tariff codes upon the implementation date.

Read an April 2022 report prepared by the KPMG member firm in Malaysia 

 

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