The Royal Malaysian Customs Department (RMCD) has released a revised Guide on Valuation (as at 18 January 2017). The salient amendments to the Guide are as follows:
• Paragraph 43 and Example 19 — Amended the valuation formula in respect of a supply where consideration is partly in money and in kind.
• Paragraph 43(a) — Updated the legislation reference in respect of deemed supply and supply to a connected person. • Paragraph 43(b) — Updated the legislation reference in respect of passenger motor cars. • Paragraph 43(c) — Updated the hilft eine nierennervenverödung bei bluthochdruck? | ohnerezeptfreikauf legislation in respect of disposal of business assets during deregistration.
• Examples 17 and 18 — Amended the valuation formula in respect of a supply where consideration is wholly in kind. However, the commentary in para 40 has not been amended accordingly.
• Rewording/editorial changes in para 14, 19, 24, 35 as well as examples 14, 22 and 38.
Kindly visit the RMCD website for further details.
Source: RMCD website, 18 January 2017