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Budget 2019: Spotify, Netflix, Steam & Other Online Services to Be Taxed Starting 2020

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Budget 2019: Spotify, Steam &Amp; Netflix Will Be Taxed Starting 2020 - World Of Buzz 1
Source: Lowyat

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The Budget 2019 or more popularly known as Belanjawan 2019 is currently ongoing on the Ministry of Finance’s Facebook page. Minister of Finance, Lim Guan Eng has announced that online services such as Netflix, Spotify and Steam will be subjected to taxes from the government starting as early as January 2020. 

Budget 2019: Spotify, Steam &Amp; Netflix Will Be Taxed Starting 2020 - World Of Buzz

Source: lowyat

The types of online services that are affected include software, music, video, and digital advertising. Although it was not mentioned which companies or brands would be affected, there were presentation slides in the livestream that named several famous online services including Netflix, Spotify, and Steam.

Lim also added that service providers who import these services for users would have to register with the Royal Customs Department but he did not mention the exact amount of tax that they would be subjected to. We guess more details would be revealed soon!

Stay tuned for more updates!

 

Also read: [WATCH] Lim Guan Eng Presents Budget 2019 Live in Parliament

[Watch] Lim Guan Eng Presents Budget 2019 Live In Parliament - World Of Buzz 1

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



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