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Malaysia collects over 100 million USD of digital service tax 15:41 | 30/12/2020
Malaysia collects over 100 million USD of digital service tax
Kuala Lumpur - The Malaysian government has so far collected 428.07 million RM (105 million USD) from digital service providers since the start of the enforcement of the Digital Services Tax early this year, said Deputy Finance Minister Abd Rahim Bakri.
He said the tax was imposed on, among others, Netflix, Amazon, advertisements on social media platforms such as Facebook and Instagram, as well as applications and games on smartphones.
This is a new source of revenue for the country and will be enhanced in the future, he said at the debate on the Service Tax (Amendment) Bill 2020 on December 29.
Kuala-lumpurMalaysiaMalaysianRahim-bakriInstagramService-tax-amendmentNetflixFacebookDigital-services-taxDeputy-finance-minister-abd-rahimService-taxகுவாலா-லம்பூர்KUALA LUMPUR (Dec 29): The government has so far collected RM428.07 million from digital service providers since enforcement of the Digital Services Tax early this year, said Deputy Finance Minister I Datuk Abd Rahim Bakri.
He said the tax was imposed on, among others, Netflix, Amazon, advertisements on social media platforms such as Facebook and Instagram, as well as applications and games on smartphones.
"This is a new source of revenue for the country and will be enhanced in the future. This collection is not only imposed on local digital service providers, but we have also started efforts to impose the tax on foreign digital service providers,” he added.
Kuala-lumpurMalaysiaMalaysianDewan-negaraRahim-bakriInstagramRoyal-malaysian-customs-departmentService-tax-amendmentNetflixFacebookServices-taxDigital-services-tax Govt collects more than RM400 million in Digital Service Tax 29 Dec 2020 / 14:40 H. Pix for representational purpose only.
KUALA LUMPUR: The government has so far collected RM428.07 million from digital service providers since enforcement of the Digital Services Tax early this year, said Deputy Finance Minister I Datuk Abd Rahim Bakri.
He said the tax was imposed on, among others, Netflix, Amazon, advertisements on social media platforms such as Facebook and Instagram, as well as applications and games on smartphones.
“This is a new source of revenue for the country and will be enhanced in the future. This collection is not only imposed on local digital service providers, but we have also started efforts to impose the tax on foreign digital service providers,” he added.
Kuala-lumpurMalaysiaMalaysianDewan-negaraRahim-bakriInstagramRoyal-malaysian-customs-departmentService-tax-amendmentNetflixFacebookServices-taxDigital-services-taxKUALA LUMPUR (Dec 29): The previous government's decision to abolish the goods and services tax (GST) has to some extent affected the country's revenue, said Deputy Finance Minister I Datuk Abd Rahim Bakri.
He said this was because the country faced a revenue shortfall when the GST was abolished and replaced with the sales and service tax (SST).
"The GST was introduced in 2015 before the then government decided to abolish the tax system in 2018.
"Judging from the data, GST collection was RM44 billion a year and the total during its implementation was RM133.1 billion, while SST collection was just RM21 billion annually,” he said when winding up the debate on the Sales Tax (Amendment) Bill 2020 in Dewan Negara here today.
Kuala-lumpurMalaysiaDewan-negaraRahim-bakriSales-taxAbd-rahimகுவாலா-லம்பூர்மலேசியாதிவான்-நெகாராரஹீம்-பக்ரிவிற்பனை-வரி