The following is the Royal Malaysian Customs gazetted CBU vehicle price list for alot of cars that are normally brought into Malaysia in CBU form.
Please refer to the new National Automotive Policy tax rates for CBU vehicles to calculate how much CIF (cost, insurance, freight) car values will be after slapping on our exorbitant taxes. Here is an example of calculation for the Suzuki Swift, which is a CBU from Japan so I used tax rates for non-ASEAN CBU.
|Add Import Tax (30%)||RM9542.40|
|Add Excise Duty (75%)||RM31012.80|
|Add Sales Tax (10%)||RM7236.32|
Note that this does not include whatever profit the dealer slaps ontop of the price before selling it to you, who has to fork out ridiculous amount of money every month for the next 7 to 9 years for a decent car. Yes, I am bitter.
As I’ve said before, I do not see how this method will work out in the end as the way cars are sold in the foreign market are not so rigid. There are many many trim levels for 1 car model. And they all have different price tags on them. How will the Custom keep track of all the different variants, and will this price list be updated as often as needed? If it is this way, it would not be fair for someone bringing in a car with a higher trim level and someone bringing in the same model but having barebones trim (perhaps no leather seats and a lower end entertainment system) to pay the same import duty and excise tax. You’ll start seeing everyone bringing in the highest trim level for a car possible to take advantage of this little loophole.