Foreign firms keen to do business due to cost advantage

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LVGT أخبار

Low Value Goods Tax,E-Commerce

(Reuters) - Newcastle United remain a dangerous opponent at St James' Park despite an alarming injury list, Tottenham Hotspur manager Ange Postecoglou said on the eve of Saturday's Premier League clash.

PETALING JAYA: Overseas companies are eyeing Malaysia as a hub to reduce cost following the implementation of the 10% Low Value Goods Tax for import goods costing RM500 and below sold online, says a group.

“We have received several inquiries from suppliers based in China and Taiwan about starting businesses here.“Their main concern is whether the LVGT has impacted the consumers. However, so far, there has been no major impact on consumers.As the companies were facing more significant effects due to the tax, starting a business in Malaysia would be more financially viable, said Eng.

“They might be affected but generally, there was no major complaints from our members. To date, I could say the situation now is still quite positive,” he added.Senior executive Tan Lee, 24, who buys clothes and accessories online, said she did not notice the tax.

 

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