PWTC, Kuala Lumpur, 1st May 2014 – In tandem with Kuala Lumpur International Book Fair 2014, the Customs Department of Malaysia have briefed the Book Industry on preparation for GST implementation for 2015. Against many predictions, printed books are not exempted from GST. Hence starting 2015, book prices will include 6% increment for consumers.
However, the Customs Department made it very clear that e-books will not have GST. This is due to the nature of the product that does not have tangible components and chains of production. The good news for digital book readers is that they can carry on reading in the future and not be affected by GST.
This GST exemption for e-books is predicted to accelerate further the growth of the electronic book industry in Malaysia.