{"id":561,"date":"2024-01-02T09:26:00","date_gmt":"2024-01-02T09:26:00","guid":{"rendered":"https:\/\/atsymgmt.com\/?p=561"},"modified":"2024-01-01T13:40:45","modified_gmt":"2024-01-01T13:40:45","slug":"sales-tax-for-low-value-goods-lvg","status":"publish","type":"post","link":"https:\/\/atsymgmt.com\/zh\/2024\/01\/02\/sales-tax-for-low-value-goods-lvg\/","title":{"rendered":"Sales Tax For Low Value Goods (LVG)"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Low value goods (LVG) sales tax is being implemented on 1 January 2024. Registered seller is required to charge a 10% LVG sales tax on goods brought into Malaysia. We have summarized an easy reference for your goods understanding on mechanism of LVG sales tax.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Who should registered?<\/td><td>Local\/overseas seller who generate turnover (from LVG) more than RM500K in 12 months (past\/future) from online platform<\/td><\/tr><tr><td>LVG (Low Value Goods)<\/td><td>Selling price &lt;RM500 per unit<\/td><\/tr><tr><td>Sales tax rate<\/td><td>10% on selling price (exclude delivery fee, custom duty, excise duty, insurance etc)<\/td><\/tr><tr><td>Taxable period<\/td><td>Submit LVG-02 (once in 3 months) in conjunction to business\/company year end<\/td><\/tr><tr><td>Due date for submission<\/td><td>Subsequent month of taxable period (Eg. Taxable period 01 Jan 24 to 31 Mar 24, due date 30 April 2024\uff09<\/td><\/tr><tr><td>Penalty rate<\/td><td>First 30days from due date &#8211; 10%<br>Next 30days from due date &#8211; 10% + 15% = 25%<br>Next 60days from due date &#8211; 10% + 15% + 15% = 40%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">For further information, please do not hesitate to contact us. We can assist you further on your queries.<\/p>","protected":false},"excerpt":{"rendered":"<p>Low value goods (LVG) sales tax is being implemented on 1 January 2024. Registered seller is required to charge a 10% LVG sales tax on goods brought into Malaysia. We [&hellip;]<\/p>","protected":false},"author":1,"featured_media":563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":false,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[112],"tags":[],"class_list":["post-561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sst"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/atsymgmt.com\/wp-content\/uploads\/2024\/01\/Sales-tax-LVG-Eng.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/posts\/561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/comments?post=561"}],"version-history":[{"count":3,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/posts\/561\/revisions"}],"predecessor-version":[{"id":565,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/posts\/561\/revisions\/565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/media\/563"}],"wp:attachment":[{"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/media?parent=561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/categories?post=561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atsymgmt.com\/zh\/wp-json\/wp\/v2\/tags?post=561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}