Dear Valued Customers,
Please be informed that an 8% Service Tax will be applied for all taxable general insurance policies where the insurance period commences on or after 1 March 2024 or where the insurance period spans across 1 March 2024 (calculated on a pro-rated basis).
MSIG reserves the right to collect any undercharged service tax for policies processed before 1 March 2024 where the insurance period spans across 1 March 2024.
You are obligated to pay any applicable taxes including but not limited to service tax and stamp duty that are imposed by the Malaysian tax authorities in relation to your Policy.
We are in the midst of updating our brochure and product materials to reflect the Service Tax. The materials will be ready in due course.
