Vehicle valuation method still under review, says ministry

Free Malaysia Today

The finance ministry says discussions are ongoing with the investment, trade and industry ministry and automotive players.  Read More: https://www.freemalaysiatoday.com/category/nation/2025/02/11/vehicle-valuation-method-still-under-review-says-ministry/   Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/02/11/kementerian-sangkal-dakwaan-harga-kereta-akan-naik/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #VehicleValuation #TaxRegulations

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00:00The Finance Ministry has denied reports that vehicle prices will see a sharp increase from

00:062026 due to changes in excise tax regulations.

00:12In a statement, it said a final decision on the vehicle valuation method had yet to be

00:16made.

00:17The ministry said it is working with the Investment, Trade and Industry Ministry and the Automotive

00:22Industry to review the vehicle valuation method.

00:25This was to ensure that the imposition of tax is carried out in a fair, neutral and

00:30consistent manner.

00:33Concerns over potential price hikes arose following news reports that the Automotive

00:37Industry secured a final extension on the revision of excise duties for locally assembled

00:42cars until December 31.

00:45Originally set for implementation on January 1, 2020, the revision has been delayed three

00:50times due to concerns from the Automotive Industry.

00:54The revision will use the open market value, which factors in both production and non-production

00:59costs when calculating a vehicle's value.

01:03Since more components are now taxable, Malaysian Automotive Association President Shamsur Zain

01:08reportedly estimated a 10-30% increase in CKD vehicle prices from 2026.

01:15Natasha Buzd, FMT News.

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