Vehicle Valuation Method Still Being Reviewed By MOF

Referring to news reports regarding the anticipated significant increase in vehicle prices starting in 2026, following the enforcement of the new excise tax regulations under P.U.(A) 402/2019 - Excise Tax Regulations (Determination of Value of Locally Produced Goods for Excise Tax Purposes), the Ministry of Finance (MOF) would like to clarify that these reports are inaccurate.

1. MOF has yet to make a final decision; and
   
   
2. 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.

Ministry of Finance
Putrajaya
11 February 2025