Malaysia
Tariffs/Taxes
Imports
As a member of ASEAN and participant of
AFTA, Malaysia is subject to the Common
Effective Preferential Tariff (CEPT) scheme,
which applies tariff rates of between zero
and 5 percent to goods with at least
40 percent ASEAN content if traded within
ASEAN. The CEPT covers around
98 percent of all tariffs.
Non-ASEAN country import tariffs are
implemented according to AFTA and WTO
regulations. Capital goods and raw materials
are subject to a 5 percent tariff.
A generalised system of preferences
privileges is in operation for imports
from Australia, Canada, the European
Union, Japan, New Zealand, Norway, the
Commonwealth of Independent States (CIS)
and Switzerland.
Anti-dumping duties are imposed on
newsprint rolls from Canada, Indonesia,
South Korea and the USA.
Exports
A few commodities are subject to export
taxes, including crude and palm oil.
Financing requirements for imports/
exports
Foreign currency credit facilities for
imports are subject to an aggregate limit
of MYR 100 million for corporate groups or
MYR 10 million for individuals.
Trade financing facilities from licensed
onshore banks are available without
limit. Foreign currency credit facilities for
exports are subject to a aggregate limit of
MYR 100 million for corporate groups or
MYR 10 million for individuals.
Prohibited items
Imports
Goods that comply with standards set by the
corresponding government ministry may be
imported.
The Malaysian government also publishes a
list of imports that are prohibited.
Exports
Coral, turtle eggs, arms, hazardous waste
and perishable food and drink.
