OMV Tax On local CKD Vehicles Will Not Burden B40, M40 – Sim KUALA LUMPUR, Feb 23 (Bernama) — The full implementation of the open market value (OMV) tax structure for locally assembled Completely Knocked Down (CKD) vehicles will not burden the B40 and M40 income groups, Deputy Investment, Trade and Industry Minister Sim Tze Tzin said today. He said the Excise (Determination of Value of Locally Manufactured Goods for the Purpose of Levying Excise Duty) Regulations 2019 apply to all locally manufactured goods and are not limited to vehicles. “The impact on vehicle prices will be minimal. The government will ensure affordable vehicles for the B40 and M40 groups, based on the […]

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