KUALA LUMPUR: The import duties upon cars from Japan will be marked down to 0% by 2016, says International Trade andIndustry Minister Datuk Seri Mustapa Mohamed.
He pronounced upon Thursday which a import duties would be marked down to 15% in 2013, 10% in 2014 as well as to 5% in 2015.
On excise duties, he pronounced a supervision was conducting a investigate upon it. However, he pronounced if this was implemented, it would be carried out gradually.
At a media conference, he pronounced which prices of brand brand new cars had started to decline given a commencement of 2012 by about 3% to 5% for a little models.
Mustapa pronounced a supervision had been working with automobile companies to get them to voluntarily revoke automobile prices as well as this has seen a key of special rebates for a little models given October 2012.
He pronounced a rebate in automobile prices was due to measures taken by a supervision to have a attention more efficient as well as competitive, citing a implementation of a Asean Free Trade Agreement.
"Further rebate in prices will be realized with a liberalization of a automotive attention through other FTAs implementations which will come into force in 2016," he said.
He combined a attention employs 100,000 people directly as well as 70,000 people indirectly.
The resale as well as used marketplace employs about 100,000 people. He combined which 60% of brand brand new buyers depend upon a resale value of a existent care to have their subsequent purchase.
As for taxation revenue, he pronounced RM7bil was generated from automobile taxes as well as this income helps a supervision to subsidise a price of f! uels as well as other amenities.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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