By Admin | September 14, 2024
The Royal Malaysian Customs Department has issued Service Tax Policy No. 7/2024 on July 26, 2024, regarding the service tax treatment for virtual credit cards.
Key highlights of the policy:
- Virtual credit cards issued as enhancements to physical cards are not subject to service tax, provided specific conditions are met.
- However, service tax will apply to virtual credit cards issued without a physical card or those that fully replace a physical card.
Please refer to the slide for further details.
If you would like to know more, please contact us at:
Email: info@taxguardsadvisory.com
Source: MySST (customs.gov.my)