Malaysia reduces import duties on automobiles
Malaysian government has recently announced that it will reduce import duties on cars imported from ASEAN countries under a trade treaty. However, the government will keep rebates for local producers. According to the statement released by the Finance Ministry, the duties on cars imported from Association of Southeast Asian Nations (ASEAN) will be reduced to 20% from January 1, 2005. Malaysia currently applies duties ranging between %70-%190. However the excise duties on cars sold in the country will be increased from 60-100% to 90-250%.