Digi business marketing and operations head Steven Soon (second from left) delivering his speech as (from left) Johor South SME Association advisor Teh Kee Sin, RHB Bank Bhd commercial banking head Azlina Safian and PKT Logistics Group Sdn Bhd chief operating officer P’ng Tean Hau look on duri...
One for the album: (From left) Teh, Soon, Azlina and P’ng posing for photograph after their panel discussion session at the SOBA LAB programme at Trove Hotel in Johor Baru.JOHOR BARU: Digitalisation is the way forward for small and medium enterprises (SMEs) and they have to start planning now,...
Unofficial figures show that some 300,000 Malaysians commute daily from Johor to Singapore to work. — FilepicJOHOR BARU: The state government is looking at the positive angle when it comes to the high number of Malaysians, including Johoreans, working in Singapore.Johor education, human resour...
An SME expo showcasing the productsKUALA LUMPUR: Malaysia's small business sector experienced positive business conditions in 2018 and confidence in business and economic growth is at its highest point since 2012, according to new survey data released today by CPA Australia. The findings from CPA A...
KUALA LUMPUR: Small and medium enterprises (SMEs) should capitalise on the RM517mil funding made available by Malaysian Industrial Development Finance Bhd’s (MIDF) and Malaysian Technology Development Corp (MTDC) under the Soft Loan Scheme for Automation and Modernisation (SLSAM).MIDF group ma...
PETALING JAYA: Finance Minister Lim Guan Eng is tabling Budget 2019 in Parliament, the first federal budget by the Pakatan Harapan government.The tabling of the Supply Bill (Budget) 2019 will commence before Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof, and will be debated by the Members of Par...
Self-Declaration Mechanism Takes Effect On May 2, Says MIDA
KUALA LUMPUR, April 14 (Bernama) -- The implementation of the Customs Duties (Exemption) Order 2013 and Sales Tax (Exemption) Order 2013, a new self-declaration mechanism that simplify the granting of import duty and/or sales tax exemption, will take effect on May 2, 2014.
In a statement, the Malaysian Investment Development Authority (MIDA) said the mechanism would benefit manufacturers in the principal customs area (PCA), companies engaged in the hotel business and haulage operators for tax exemption.
"Under this new self-declaration mechanism, a company is required to submit a confirmation letter issued once by MIDA together with the list of machinery, equipment, spare parts, consumables, prime movers and container trailers to be imported or purchased to the Royal Malaysian Customs Department (Customs) for permission to claim the exemption.
"The companies would be able to obtain the permission within a period of two weeks from the date of complete submission received by the Customs," MIDA said.
MIDA said the business process re-engineering effort was undertaken in collaboration with the Ministry of International Trade and Industry, Ministry of Finance and the Customs.
It said an application would require a processing period of four weeks from the date of complete information received.