QUOTE(gfwong @ Aug 24 2018, 11:25 AM)
Hello all,
I recently bought a used watch from Japan. Upon tracking I got the latest status "Held by customs (import)". I just called Poslaju and they asked me to wait until next week and see.
If it is held by customs, can we go release it on our own. And now with 0% GST, there shouldn't be any tax right?
You need to know the differences between IMPORT TAX and GST.
Import duty and taxes are due when importing goods into Malaysia whether by a private individual or a commercial entity. Malaysia uses the CIF valuation method (Cost, Insurance and Freight), which means that the import duty and taxes payable are calculated from the total shipping value of the item including the cost of freight and insurance during shipping, not just the product itself. Some duties are also calculated based on their weight or volume.
Duty Rates
Malaysia’s import duty rates can be anything from 0% to 50%, but the average duty rate is around 6%. There are some goods which are exempt from duty; these include electronic products such as laptops and electric guitars.
No Import duty, if CIF value is less than or equal to RM500 (with the exception of alcohol, wine and tobacco products).
As I remember watches are tax free.
So far I bought a lots of items from overseas, never need to pay any import tax yet.