Business Of Import & Export Companies in Malaysia

Import and export businesses in Malaysia are subject to the same rules and regulations as other businesses in the country. These businesses must obtain a business license from the Malaysian government in order to operate legally. In addition, they must also comply with the regulations of the Malaysian Customs Department and the Malaysian Quarantine and Inspection Services.

Import and export businesses must declare their activities to the Customs Department and submit all required documentation, including commercial invoices and shipping manifests. They are also required to pay customs duties and taxes on their imports and exports.

The Quarantine and Inspection Services is responsible for ensuring that all imported goods are safe and meet Malaysian standards. Imported goods that are found to be unsafe or non-compliant with Malaysian standards will be rejected and may be subject to further inspection or quarantine.

Businesses that engage in import and export activities must also comply with the requirements of the Malaysian Trade Descriptions Act, which prohibits the misrepresentation of goods and services.

Penalties for non-compliance with the law can include fines, imprisonment, or both.