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flat rate scheme import vat Related Articles

Run flat tyres, tyre repair kits, or spare tyres. Which is best?

Your car ownership experience isn’t complete without having at least one flat tyre incident.

Gov postpones toll rate hike plans to 2022 for 3 highways

MICCI: Tax incentives for Malaysia’s automotive sector lack transparency

"Furthermore, there is also an urgent need to improve transparency in the incentive scheme and protectionism

2021 Lexus LS 500 open for booking: 3.5L V6, LSS+ ADAS, from RM 1 million

The wheels are finished in Hyper Chrome Metallic and come with run-flat tyres.Enhancing the comfort and

Spied: All-new 2021 Toyota 86 spotted testing - 2.4L flat-four, 220 PS and 240 Nm!

rendering of how it could look like.The all-new Japanese coupe is expected to be powered by a 2.4-litre flat-four

Targeted fuel subsidy to start in January 2020, only for BSH recipients

Starting January 2020, the government will implement the Targeted Fuel Subsidy Scheme, which will see

UMW Toyota teams up with Bank Rakyat to introduce new financing scheme

90 percent financing and follows the Shariah concept of Al-Ijarah Thumma Al-Bai’ (AITAB).This scheme

No more recond Subaru BRZ from Japan soon, 2021 Toyota 86 to debut in May as GR86

Like the Subaru BRZ, the ‘flat-four’ engine’s capacity has been increased to 2.4-litre.The

This is the cheaper Toyota GR Yaris that recond dealers will import to Malaysia next year

Rules for Open AP used by recond dealers only allow them to import cars 1 year after the model first

Geely Haoyue debuts, 7-seater SUV with 1.5T & 1.8T, should this be the ‘Proton X90’?

quite a substantial footprint.Geely claims that the Haoyue has an impressive interior space utilisation rate

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New electric MINI Cooper SE launched in Malaysia, from RM 218,380 only

DC Fast Charging can be done at a maximum rate of 50kW (80% charge in 36 minutes).

How the Proton Saga went from RM 17,575 in year 1985 to RM 32,800 today

buy 100 Thai Baht, RM 1.15 for 1 Singapore Dollar, RM 0.96 for 100 Japanese Yen.Today, the exchange rate

The Toyota RAV4 is cheaper than the Honda CR-V, before tax – wait what??

, as how it should be.The locally-assembled Honda CR-V also needs to pay excise tax, but at a lower rate

Top-5 cars with the most expensive road tax in Malaysia

wagon, and convertible while non-saloon cars are MPV, SUV, Pick-up truck and van.For saloon cars, base rate

The 2021 Perodua Ativa is more Malaysian than the Proton X50?

“The Perodua Ativa’s competitive pricing was made possible by its 95% localisation rate &

Worried about your car battery going flat during MCO? Here's how to prevent it

battery with the connectors and the atmosphere.A battery with come corrosion on the terminals is not flat

After SST exemption ends, how much will prices of Toyota cars increase in Malaysia?

Toyota prices under Penjana scheme Models Prices before 30-June Est price increase Yaris

Road tax paid to JPJ don’t go to road maintenance, so what are we paying for?

nearly 10 percent of the Malaysian Treasury’s collection – 5 percent from motor vehicle import

All-new 2021 Honda HR-V to make global debut on 18-Feb, to get i-MMD engines - more details here!

Among the cues carried over is the dual-tone colour scheme - characterised by an expansive sunroof within

2020 Lexus LM 300h launched in Thailand, pricier than S-Class, available with either 4 or 7 seats

The 4-seater costs a cool 6.5 million baht (RM 874,556 in the current exchange rate) while 7 seater is

Economist calls to lift import and excise duties on CBU cars in Malaysia

government to consider ending Malaysias protectionist measures for the automotive industry by lifting import

Aston Martin Rapide AMR launched in Malaysia – Only 2 units, from RM 1.1 million

Dutch Wira tried to conquer, Nurburgring.The 2 units that are brought over in Malaysia are a Signature scheme

Indonesia will limit import of Proton X70 until Malaysia opens up its car market further

difficult.There is however one problem that is beyond Geely’s or Proton’s control – import

Check out Wuling’s new toy car-looking Hong Guang Mini EV

the Hong Guang looks very much like a life-size toy car with its straight simple lines and a colour scheme

Naza offering low interest rate from 1.88% until 15-July for recond cars

Customers are entitled to a low-interest rate from 1.88 percent and a 1-year warranty during this promotional

Here’s why you can’t buy a Honda Civic Hatchback in Malaysia

for Malaysia as the actual market potential is no more than 360,000 units, a puny sum in the grand scheme

Thailand's 2021 Ford Ranger FX4 Max is a budget Raptor with 213 PS

This colour scheme is also applied to the exterior mirror caps, door handles, wheel arch mouldings, and

Prices of imported (CBU) cars in Malaysia to increase by June 2020, gap between CBU/CKD to reduce

money by zero-ing in on the way a vehicle’s transaction value – the base value upon which import

Zero tax for EVs in Malaysia soon, but there's a catch

aptly called Low Carbon Mobility Blueprint (LCMB), one of the proposals is to waive excise duty and import

Toll rate hike deferment: Gov to pay operators RM 2 bil in compensation

Halim Mu’adzam Shah Bridge (JSAHMS) Seremban-Port Dickson HighwayAlso read: Gov postpones toll rate

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flat rate scheme import vat Post Review

#VAT If you use the Flat Rate Scheme, you do not recover input tax or VAT on imports or acquisitions but 20% VAT on EU acquisitions is due

All the #Brexitdividends I've spotted so far:- massively increased shipping costs (few couriers are capable of getting packages into EU on any kind of schedule) (can pass this to customer = less competitive price) - sending via DDP? Any returns = massive losses of taxes paid

- UK importers from EU used to Flat Rate Scheme VAT now paying massively more VAT due to VAT on EU imports, which renders FRS useless (can attempt to pass to customer = less competitive) - already seen EU customers wary of import charges = less sales#VAT #flatratescheme

- shipping prices have gone up by at least 33% in most cases- paperwork that is fairly simple to complete but uses mountains more ink + paper + plastic wallets(cost + waste)- EU customers that are hesitant / confused / angry about extra import charges = shit for business

- demand from EU that is still very much there but is being slowly eroded by the many customs difficulties and delays = bad for everyone involved (UK biz, EU people & gvt revenues)- redundancy of the easy / useful Flat Rate Scheme (FRS) VAT return system due to VAT on EU imports

Reason will be due to VAT levied now against the sender. These changes came on 1/1/21. They claim they aren't Brexit related, however I am dubious. EU make similar changes in July 2021. So they mirror. If normal sales / VAT/GST taxes were LESS than 20% previously, there is loss.

Aka there is a major change from being charged NATIVE VAT / GST on sales to now paying recipient country VAT. This may mean a big hike in tax for sellers.Another clusterfuck for UK Small bz is Brexit VAT on EU imports + these VAT changes means useful Flat Rate Scheme is killed.

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