Thursday, June 19, 2025

Business Transactions

Malaysia SST Regulations 2025


SCRAP MATERIAL SALES

Tax-Exempt (0% SST):
  • Raw ferrous/non-ferrous metal scrap (iron, copper, aluminum)
  • Recyclable paper/plastic/glass waste
  • Condition: Must sell to licensed recycling facilities
Taxable (10% SST):
  • Processed scrap (shredded/pelletized materials)
  • Sales to non-licensed buyers
  • Industrial by-products with commercial value

SECOND-HAND CAR SALES

Margin Scheme (10% SST):
  • Applies ONLY to registered car dealers
  • Tax calculated on profit margin:`SST = 10% × (Selling Price - Purchase Price)`
  • Example: Buy RM30k → Sell RM40k = SST RM1,000
Exempt Transactions:
  • Private sales between individuals
  • Vehicles > 10 years old
  • Emergency/service vehicles

KEY REQUIREMENTS

For Scrap Sellers:
  • Verify buyer's recycling license
  • Raw materials only qualify for exemption
  • Processed scrap taxed as "new goods"
For Car Dealers:
  • Maintain original purchase invoices
  • Imported used cars: Additional 10% LVG tax
  • Trade-ins: Use trade-in value as purchase price

DOCUMENTATION

Scrap Sales Must Keep:
  • Copy of buyer's recycling license
  • Weighbridge/quality certificates
Used Car Dealers Must Keep:
  • Original purchase invoice
  • PUSPAKOM inspection report
  • Margin calculation records

PENALTIES
  • Scrap misclassification: 30% back-tax fine
  • Unreported car profits: 100% penalty on evaded SST