KUALA LUMPUR (Reuters) -Malaysia has decided not to proceed with a high-value goods tax first mooted in its budget spending plan two years ago, the finance ministry said.
A tax of 5% to 10% on high-value goods was initially set to begin in May 2024 before being delayed.
The government will no longer proceed with the plan as selected high-value goods are now levied under a recently expanded sales tax, the finance ministry said in a written parliamentary reply late on Tuesday.
(Reporting by Danial Azhar; Editing by Christopher Cushing)
