IMPOSITION OF THE GOODS AND SERVICES TAX (GST) EFFECTIVE 1 APRIL, 2015 (24 December 2014)
Currently, MM2H participant may purchase one new car made or assembled in Malaysia which is exempted from excise duty and sales tax OR import one car which belongs to him/her from country of citizenship or where he/she last domiciled, which is also exempted from import duty, excise duty and sales tax for bringing in it into Malaysia for his/her personal use. On 1st April, 2015, the Government of Malaysia will start to impose the Goods and Services Tax (GST) in Malaysia. As of now, the Ministry of Tourism and Culture Malaysia has not received an official notification from the Ministry of Finance (MOF) to give any tax exemption to MM2H participants when they: a) Purchase a new car made or assembled in Malaysia; or b) Import a car which belongs to the participant in his/her country of citizenship or where he/she last domiciled.Therefore any car which is purchased in or imported into Malaysia on or after 1st April, 2015 is subject to GST unless it is given exemption by MOF.
MM2H ACCOUNT AND FINANCE YEAR-END MAINTENANCE 2014 (24 December 2014)
Please be informed that all financial activities will be halted as follows:-
Cashier : 30.12.2014 (12 noon onward)
Cashier : 31.12.2014 (Closed)
Deposit’s Refund (22 December 2014 onward)
All financial activities will resume as usual on 2 January 2015.
MM2H COMPANY NAME(12 November 2014)
Attention to all MM2H Licensed Agents, According to Tourism Industry Act 1992, Malaysia My Second Home (MM2H) companies only handle matters related to MM2H applications whereas companies registered under the Tour Operating Business and Travel Agency Business (TOBTAB) deal with tour and travel business. The line is drawn between these two entities – MM2H and TOBTAB – because they have different sets of requirements for licence applications. Besides facilitating enforcement officers to monitor their activities, it can avoid confusion among the public or clients should the company name is manipulated by certain MM2H companies. Therefore, all MM2H Licensed Agents using the words, “Travel”, “Tours”, “Holidays” and et cetera which represent tourism activities are requested to change their company name and consult the Licensing Division, Ministry of Tourism and Culture Malaysia.
FIXED DEPOSITS UNDER MALAYSIA MY SECOND HOME (MM2H) PROGRAMME (17 October 2014)
Placement of Fixed Deposit can be done at any bank in Malaysia. Withdrawal of Fixed Deposit must have the prior approval of the MM2H Centre under Ministry of Tourism and Culture Malaysia. Failure to comply with this condition could result in the immediate cancellation of the MM2H Social Visit Pass (Multiple Entry). Banks with dedicated MM2H Counters are as follows Bank of China and Public Bank.
APPLICANTS FROM BANGLADESH (09 October 2014)
Starting from 1 November 2014, MM2H special committee meeting has decided that all applicants from Bangladesh must have their signature on each and every page of application documents before submitting to MM2H Centre.
FIXED DEPOSIT ACCOUNT UNDER MM2H PROGRAMME (25 June 2015)
Kindly be informed effective 1st July 2014, MM2H participants are not allowed to transfer Fixed Deposit Account tagged under MM2H Programme .