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TAX AND REGULATORY CHANGES


3. INDIRECT TAXES

Abolishment of Excise Duties
Excise duties on locally manufactured air conditioners, refrigerators and televisions are abolished to enable the local manufacturers to compete effectively in the domestic market.

Increase in Duties
Import duties and excise duties on cigarettes, tobacco products and alcoholic beverages have been increased by between 11% and 40%.

Palm Oil
A levy will be imposed from 1 January 1999 on crude palm oil and crude palm kernel oil at a maximum of RM50 per ton where the prices exceed RM2,000 per ton.



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