Free ATM withdrawals, 10-year passports and VEP enforcement: Major changes take effect in Malaysia

MALAYSIA: Several new pieces of legislation and regulatory changes have come into force this month affecting citizens, motorists, businesses and employers across Malaysia. These initiatives demonstrate the ongoing commitment of the government to improve public services, strengthen governance, improve road safety and speed up digital transformation.

One of the biggest changes is the removal of the RM1 interbank ATM withdrawal fee. This means that from July 1, Malaysians can get cash out from any MEPS-linked ATM or Smart Recycler Machine without incurring additional charges, giving more ease and accessibility.

Meanwhile, Malaysians aged 18 and above can also apply for the new 10-year passport at a price of RM350. The five-year passport will still be available, but with additional security elements to help prevent counterfeiting and identity fraud.

Households qualified under the NUR@PETRA 2026 project are entitled to an RM200 incentive to promote energy efficiency when purchasing selected four- or five-star certified refrigerators and air conditioners. Rebate is offered while supplies last on a first-come, first-served basis.

Students and eligible adolescents can now redeem their RM100 MADANI Book Voucher online, making it easier for them to purchase books and learning materials.

The new Road Transport Act will also see greater enforcement for road users. The reforms will increase punishments for ordinary traffic offences, increase measures against illegal street racing and force car owners to identify the driver responsible for camera-detected offences.

The more stringent criteria for fully imported electric cars (CBUs) to boost local assembly of EVs and the introduction of the Vehicle Entry Permit (VEP) for Singapore-registered vehicles entering Malaysia are another major shift. If you don’t have a valid VEP, you may be fined and compelled to pay any fines before you leave the country.

The government has also merged the BUDI Diesel and BUDI95 subsidy schemes into a single MyKad-based verification mechanism. Meanwhile, the Inland Revenue Board (LHDN) is continuing the staggered rollout of e-Invoicing, giving qualified firms more time to prepare for compliance.

Employers should be aware that EPF contribution payments are now digital-only and can only be made through approved internet methods. KUALA LUMPUR: Companies in the city can now renew their DBKL business licences for up to three years, cutting the administrative hassle on a yearly basis.

Meanwhile, Malaysia has bolstered its legal framework with improved cybercrime and anti-bullying laws, applying tougher penalties for crimes such as AI-generated deepfake abuse, identity theft and non-consensual sharing of intimate images, while offering increased legal protection against bullying in educational institutions.

Together, these policy reforms are intended to enhance public convenience, reinforce regulatory enforcement, and aid Malaysia’s digital transition. “People and businesses should keep up to date to ensure that they remain compliant and get the most from the new initiatives.