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Keyboards/Piano Importing a Grand Piano from Overseas
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TSJimmymei54 P
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Apr 7 2022, 01:07 PM, updated 4y ago
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New Member
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Hello all,
I'm thinking of ordering a grand piano from overseas (Southeast Asia or Europe) - does anyone know the Malaysian import tax for a grand piano? Also, if I spend over RM 200k on the piano, will the income tax people come after me for spending so much on an overseas transaction? Is there any way to get around that?
Hope to hear from any knowledgeable persons soon. Thank you so much!
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teslaman
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Apr 7 2022, 01:15 PM
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maybe 10-20% tax on CIF, just music instrument no issue
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TSJimmymei54 P
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Apr 7 2022, 04:07 PM
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New Member
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QUOTE(teslaman @ Apr 7 2022, 01:15 PM) maybe 10-20% tax on CIF, just music instrument no issue What's CIF? Will the Malaysian import tax be included in the final costs when purchasing the piano?
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teslaman
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Apr 7 2022, 04:48 PM
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QUOTE(Jimmymei54 @ Apr 7 2022, 04:07 PM) What's CIF? Will the Malaysian import tax be included in the final costs when purchasing the piano? tax is entry Malaysia side Any seller tax is not for import related tax CIF is total cost item includes insurance and freight charged to send it to port klang as example
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TSJimmymei54 P
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Apr 8 2022, 07:58 PM
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New Member
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QUOTE(teslaman @ Apr 7 2022, 04:48 PM) tax is entry Malaysia side Any seller tax is not for import related tax CIF is total cost item includes insurance and freight charged to send it to port klang as example Thanks for the info. Would you happen to know about the income tax side of things? If you spend RM 200k on purchasing a luxury good from overseas, will the income tax department hound you because of it, especially if you're retired with no active source of income? Is there any way to get around this if they do come after you?
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teslaman
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Apr 8 2022, 10:00 PM
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QUOTE(Jimmymei54 @ Apr 8 2022, 07:58 PM) Thanks for the info. Would you happen to know about the income tax side of things? If you spend RM 200k on purchasing a luxury good from overseas, will the income tax department hound you because of it, especially if you're retired with no active source of income? Is there any way to get around this if they do come after you? No issue with income tax, as long you good income proof. Can bill the piano as used item as well. Used is like RM30k luxury good is good right?
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andyng38
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May 29 2022, 06:42 PM
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You may wish to consider buying a used reconditioned grand piano locally. That would save you a lot of trouble and money. Search for sites like this one: https://www.buypianomalaysia.com/grandpiano/yamahagrand
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