CONFIRMED: No extra SST extension past June 30, deadline for registration prolonged to March 31 2023
It’s confirmed – the SST exemption for passenger vehicles in Malaysia will finish as scheduled on June 30, 2022. Nonetheless, the silver lining is that the federal government has considered the extreme inventory points at present confronted by the automotive trade and has allowed the SST exemption to use for any automotive booked earlier than the deadline so long as it’s registered earlier than 31 March 2023.
UPDATE: We have now reached out to some sellers and principals to ask what constitutes a reserving, and have added the definition within the story, beneath.
Due to the mixed after results of the pandemic, conflict and chip shortages, there are numerous vehicles with ready lists of some months in Malaysia. This can imply somebody who booked a automotive approach again in January this yr however has but to obtain supply of the automotive will nonetheless be capable of take pleasure in SST exemption so long as the inventory arrives and is registered earlier than the March 31, 2023 deadline. In keeping with MOF, there are at present a complete of 264,000 undelivered bookings to date – that’s lots!
For vehicles launched from July 2022 onwards although, no luck! Do pre-launch bookings qualify so long as it’s earlier than the June 30, 2022 deadline? What precisely defines a reserving that qualifies for the exemption? We managed to seek out out what constitutes a “reserving” within the eyes of automotive firms – whereas this isn’t exhaustive, it ought to be consultant of how issues work for essentially the most.
For Perodua, a reserving refers to a RM100 deposit and particulars from a duplicate of your myKad. The seller we reached out to stated that, based mostly on the wording of the press launch, so long as the identify is within the Perodua system by June 30, the customer is entitled to the exemption.
For Honda, the corporate’s definition of a reserving is a deposit no more than 1% of the car value, and that it must be entered into the system earlier than it’s thought of as such. There is no such thing as a lengthy lead time for this, which suggests if a purchaser is available in to e book a car the reserving will be entered into the system at that time.
There’s much more that must be requested, and answered as regards to the complete course of, and we perceive that automotive firms are within the midst of requesting additional readability on the matter with the ministry. We are going to replace on this when particulars grow to be identified.
The SST exemption was first announced in June 5, 2020 as a part of the Penjana stimulus package deal to mitigate the results of the primary motion management order, which came about from March that yr. Initially scheduled to finish on December 31 that yr, the SST exemption was extended at the last moment to June 30, 2021, after which again to December 31, 2021. A 3rd extension, which is the present one, was announced during the tabling of Budget 2022.