Digital tax may boost indirect tax collection up to 5% | KPMG | MY

Digital tax may boost indirect tax collection up to 5%

Digital tax may boost indirect tax collection up to 5%

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Digital tax may boost indirect tax collection up to 5%

Malaysia’s plan to expand the scope of indirect tax to cover companies in the digital economy, particularly cross border e-commerce and service firms could boost tax collection by 3% to 5%, said KPMG Tax Services Sdn Bhd.

KPMG’s executive director for indirect tax, Ng Sue Lynn, said the figure was a preliminary estimate by the firm as the plan is still under study.

“The move to tax the services provided by these companies is still being studied by the Royal Malaysian Customs Department,” Ng told The Edge Financial Daily.

 

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