IMPORT DUTY EXCISE AND SALES TAX EXEMPTION FOR MOTOR SPORT

The Ministry of Finance and Ministry of International Trade and Industry has approved a duty and tax exempt scheme for vehicles (go karts, cars and bikes) used solely for the purpose of motor sport competition. The exempt scheme also includes part and components, tyres and safety apparel.

Motorsports Association of Malaysia (MAM) has been appointed by the Ministry of Finance as the governing body to manage the scheme and it will be introduced gradually over the coming months.

This is a service to the motor sport community which is not so simple to manage as it is time consuming in order to ensure compliance, but in line with MAM's service minded philosophy we intend to create a "one-stop-shop" procedure where applicants only need to submit the paperwork to MAM, we will do the rest.

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