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© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 0
Tax WhizTax highlights from your advisers
KPMG in Malaysia
3 April 2020
Guide on Application for Value-Added Activities in Licensed Manufacturing Warehouse (“LMW”)
© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 1
Tax Whiz 2020 | Guide on Application for Value-Added Activities in LMW
Guide on Application for Value-Added Activities in LMW
One of the measures proposed during the Economic Stimulus Package 2020 announcement on 27 February 2020 is the relaxation on the approval process for all value-added activities carried out in LMW, which will be approved by the Royal Malaysian Customs Department (“RMCD”) at State and Zone levels.
A Guide on the abovementioned matter is now available in the RMCD’s official website, which covers amongst others, the following:
Definition of the permitted value-added activities.
The qualifying conditions and documents to be submitted for the application.
The prescribed application form (i.e. Application Form for Performing Value Added Activity/ Supply Chain Management, Strategic Procurement Operation and Total Support Solution).
The validity period of the approval is no more than one (1) year or based on the validity period of the LMW license, whichever is earlier.
Please click here for a copy of the Guide at the RMCD’s official website.
© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 2© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 2
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© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 3© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 3
Tax Whiz 2020 | Report Name
© 2020 KPMG Tax Services Sdn. Bhd., a company incorporated under Malaysian law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
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