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Vehicle Valuation Method Still Under Review - MOF

Anis

11-2-2025

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The Ministry of Finance (MOF) is still looking into the open market valuation (OMV) calculating technique outlined in Excise Tax Regulations PUA 402. These regulations, also known as P.U.(A) 402/2019-Excise Tax laws (Determination of Value of Locally Produced Goods for Excise Tax Purposes), may have an impact on vehicle prices.

While a considerable increase in vehicle pricing is projected to begin in 2026 due to the introduction of new excise tax legislation, the MOF has yet to make a final decision on the matter, it said in a statement issued today. China-Car-Sales-(3)-full.jpg


The ministry said: “In reply to news reports regarding the anticipated significant increase in vehicle prices following the enforcement of the regulations, clarified that: “MOF, together with the Ministry of Investment, Trade and Industry (MITI) and the automotive industry, is currently reviewing the vehicle valuation method to ensure that the imposition of tax is carried out in a fair, neutral and consistent manner.” web_MA_Launch_CariCarz_2025-Honda-Civic-FL_-3-full_normal-(1).jpgweb_MA_Launch_CariCarz_2025-Honda-Civic-FL_-5-full_normal.jpg


News reports about a final extension on the excise duty modification for locally assembled (CKD) cars until December 31 have sparked concerns about potential price increases. The revision was initially set for January 1, 2020, but was delayed three times due to concerns from the automotive industry.

The open market value, which includes both manufacturing and non-production costs, will be used to determine a vehicle's worth in the revision. Shamsor Zain, the head of the Malaysian Automotive Association, reportedly predicted that the cost of CKD vehicles would increase by 10-30% starting in 2026 due to the increased taxable components.

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Written By

Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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JPJ Running Numbers

KUALA LUMPUR

VNW6851

SELANGOR

BSD5276

JOHOR

JXU3267

PULAU PINANG

PRP2309

PERAK

ANU5312

PAHANG

CFB3953

KEDAH

KFY8785

NEGERI SEMBILAN

NEF3439

KOTA KINABALU

SJK2007

KUCHING

QAB580L

Last updated 25 Mar, 2025

Fuel Price

Petrol

RON 95

RM 2.05

RON 97

RM 3.28

RON 100

RM 5.00

VPR

RM 6.23

Diesel

EURO 5 B10

RM 3.03

-0.03

EURO 5 B7

RM 3.23

-0.03

Last updated 20 Mar, 2025

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