malaysia - Tax & Revenue

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.
Date: 08 July 2019; Type: Industry Updates; Source: Bernama

Government preparing Tax Incentives for Green Property Developer

PETALING JAYA, Jun 27 (Bernama) - In a bid to promote the usage of green building materials in the country, the government is in the midst of dishing out goodies - tax incentives - to developers of green building, according to the Ministry of Housing and Local Government. Although the goodies may not be announced in the upcoming 2020 Budget, i ...
Date: 27 June 2019; Type: Legal News; Source: Bernama

Government do not intend to impose Inheritance Tax in Budget 2020

KUALA LUMPUR, Jun 25 (Bernama) - The government has no intention of imposing new taxes in the upcoming 2020 Budget especially in regards to the inheritance tax, says Finance Minister Lim Guan Eng. He said there are a lot of rumours alleging that Pakatan Harapan government intended to introduce inheritance tax. Speculation about the introd ...
Date: 25 June 2019; Type: Legal News; Source: Bernama

Double Tax Deduction for Training Courses at NIOSH

KUALA LUMPUR, Jun 22 (Bernama) - Companies which send their employees to join several training courses at the National Institute of Occupational Safety and Health (NIOSH) are entitled to double tax deduction for the year of assessment 2019 to 2023, said NIOSH chairman Tan Sri Lee Lam Thye. He said the deduction could be implemented after NIOSH ...
Date: 22 June 2019; Type: Legal News; Source: Bernama

Allocating income from Tourism Tax to the States will continue - Lim

BUKIT MERTAJAM, Jun 15 (Bernama) - Allocating income from tourism tax to the states will be continued where 50 per cent of the income would be given back to the states as promised by the government, said Finance Minister Lim Guan Eng. He said the allocation for the tourism tax in 2019 was expected to be given to every state in the first quarte ...
Date: 15 June 2019; Type: Legal News; Source: Bernama

Income Tax imposed According to procedures, record - IRB

JITRA, Apr 27 (Bernama) - The Inland Revenue Board (IRB) imposes income tax on each individual according to procedures and information available to the agency, said IRB’s deputy chief executive officer (Compliance), Datuk Abdul Manap Dim. He said that if taxpayers were dissatisfied with the tax imposed, they had room to protest and seek ...
Date: 27 April 2019; Type: Legal News; Source: Bernama

Income Tax (Deduction for Expenditure on Issuance of Retail Debenture and Retail Sukuk) Rules 2019

These Rules have effect for the years of assessment 2019 and 2020.
Date: 25 April 2019; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 117 of 2019; Source: AGC Federal Gazette

Income Tax (Deduction for Expenditure on Issuance of Sukuk) Rules 2019

These Rules have effect for the years of assessment 2019 and 2020.
Date: 25 April 2019; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 118 of 2019; Source: AGC Federal Gazette

GST Guide on Declaration and Adjustment after 1st September 2018

This guide is to assist businesses in understanding matters with regards to the tax adjustments and declaration after the repeal of Goods and Services Tax Act 2014 (GSTA) on 1st September 2018.
Date: 19 April 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax Guide on Sales Tax Deduction Facility

The Guide on Sales Tax Deduction Facility is provided to assist registered manufacturers in understanding the implementation of the Sales Tax Deduction (formerly known as Credit System during the SST 1.0 era) beginning 1 January 2019.
Date: 19 April 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

GST Guide on Tax Invoice, Debit Note, Credit Note and Retention Payment after 1st September 2018

This guide is prepared to assist businesses in understanding matters with regards to the liability of Good and Services Tax (GST) on the issuance of tax invoice, debit note, credit note and GST treatment on retention payment after the repeal of Goods and Services Tax Act 2014 (GSTA) effective 1st September 2018.
Date: 19 April 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Government not in a Hurry to implement Departure Levy - Lim

KUALA LUMPUR, Apr 9 (Bernama) - The government is not in a hurry to implement the departure levy as it needs a few more months to come out with the formula, says Finance Minister Lim Guan Eng.
Date: 09 April 2019; Type: Legal News; Source: Bernama

Government willing to consider Proposal on Tax Exemption for Couple on IVF Treatment

KUALA LUMPUR, Apr 9 (Bernama) - The government is prepared to consider providing tax exemption for married couples on in vitro fertilisation (IVF) treatment, said Health Minister Datuk Seri Dr Dzulkefly Ahmad.
Date: 09 April 2019; Type: Legal News; Source: Bernama

Bill of the Departure Levy Act 2019

The proposed Departure Levy Bill 2019 seeks to provide for the imposition and collection of departure levy, and for matters connected therewith.
Date: 09 April 2019; Type: Federal Bill; Citation: DR 8 of 2019; Source: Parliament

Sugar Tax will not involve Drinks Served at Eateries - Dr Dzulkefly

PUTRAJAYA, Apr 8 (Bernama) - The excise tax of 40 sen per litre on sweetened beverages scheduled for implementation from July 1 will not involve the drinks prepared and served at eateries, including Mamak restaurants and food kiosks, Health Minister Datuk Seri Seri Dr Dzulkefly Ahmad.
Date: 08 April 2019; Type: Legal News; Source: Bernama

Six per cent Tax proposed for Foreign Digital Service Providers

KUALA LUMPUR, Apr 8 (Bernama) - The government is planning to impose a digital service tax of six per cent on foreign digital service providers from Jan 1, 2020, according to Deputy Finance Minister Datuk Amiruddin Hamzah.
Date: 08 April 2019; Type: Legal News; Source: Bernama

Bill of the Customs (Amendment) Act 2019

This Bill seeks to amend the Customs Act 1967.
Date: 06 April 2019; Type: Federal Bill; Citation: DR 2 of 2019; Source: Parliament

Bill of the Excise (Amendment) Act 2019

This Bill seeks to amend the Excise Act 1976.
Date: 06 April 2019; Type: Federal Bill; Citation: DR 3 of 2019; Source: Parliament

Bill of the Sales Tax (Amendment) Act 2019

This Bill seeks to amend the Sales Tax Act 2018.
Date: 06 April 2019; Type: Federal Bill; Citation: DR 5 of 2019; Source: Parliament

Bill of the Service Tax (Amendment) Act 2019

This Bill seeks to amend the Service Tax Act 2018.
Date: 06 April 2019; Type: Federal Bill; Citation: DR 6 of 2019; Source: Parliament

INDUSTRY UPDATES

Guidebook on Parliamentary Constituencies launched

KUALA LUMPUR, Jul 17 (Bernama) - Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof today launched Wakil Kita di Parlimen, a 228-page guidebook containing relevant information on all the 222 parliamentary constituencies.

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INDUSTRY UPDATES

Students among Plaintiffs in Lawsuit over Sungai Kim Kim Pollution

JOHOR BAHRU, Jul 17 (Bernama) - Thirty-four students are among 171 individuals who are suing the Johor state government, Menteri Besar Datuk Osman Sapian and 10 others over the pollution in Sungai Kim Kim near Pasir Gudang last March.

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INDUSTRY UPDATES

Chief Justice heads Penang Honours List

GEORGE TOWN, Jul 12 (Bernama) - Chief Justice Datuk Tengku Maimun Tuan Mat heads the list of 877 recipients of state honours and honorary medals in conjunction with the 81st birthday of the Yang Dipertua Negeri of Penang Tun Abdul Rahman Abbas.

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INDUSTRY UPDATES

Prosecution failed to serve Summons on Shahrizat's Children, Court sets new Mention Date

KUALA LUMPUR, Jul 12 (Bernama) - The Sessions Court here today set Aug 5 for mention of a lawsuit filed by the Companies Commission of Malaysia (CCM) against two children of former Women, Family and Community Development Minister Tan Sri Shahrizat Abdul Jalil in connection with several offences allegedly committed by their company.

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INDUSTRY UPDATES

Bill to increase Sabah State Seats to be tabled on July 17

KOTA KINABALU, Jul 11 (Bernama) - Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is confident the Bill for the additional 13 seats, to increase the number of state seats from 60 to 73, will be approved when it is tabled in Parliament on July 17.

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INDUSTRY UPDATES

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.

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INDUSTRY UPDATES

Sugar Tax: SME Traders can file Postponement Appeal

PARIT BUNTAR, Jul 7 (Bernama) - Small and Medium Enterprise (SME) traders affected by the sugar tax on sweetened drinks which came into effect this month, can file a postponement appeal to the relevant authorities.

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INDUSTRY UPDATES

Sarawak Government has not Officially responded on the RM1 Loan Offer - MOF

KUALA LUMPUR, Jul 6 (Bernama) - The Sarawak state government has yet to provide any official feedback to the Federal government on the proposed loan offer, amounting to RM1 billion, which will be allocated for repairs of dilapidated schools in the state.

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INDUSTRY UPDATES

Government offers Tax Incentives, grants to boost Participation in Expo 2020 Dubai

PUTRAJAYA, Jul 5 (Bernama) - The government has approved tax incentives and grants to encourage potential participating and contributing companies in the upcoming Expo 2020 Dubai.

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INDUSTRY UPDATES

Airbnb wants clearer Guideline on Tourism Tax

KUALA LUMPUR, Jul 2 (Bernama) -- Online hospitality service brokerage company, Airbnb Inc urged the government to provide a clearer guideline on tourism tax for its type of business.

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INDUSTRY UPDATES

CUEPAC urges Government to review Minimum Wage

KUALA TERENGGANU, Jun 30 (Bernama) - The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) has urged the government to review the minimum wage in an effort to reduce the people’s cost of living.

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INDUSTRY UPDATES

MITI calls SMEs to sign up for IR4.0 Assessment

GEORGE TOWN, Jun 28 (Bernama) - The Ministry of International Trade and Industry (MITI) is encouraging small and medium-sized enterprises (SMEs) in the manufacturing sector to sign up for the National Policy on Industry 4.0 Readiness Assessment (Industry4WRD-RA).

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INDUSTRY UPDATES

Lawyer Shafee's Money-Laundering trial moved to March Next Year

KUALA LUMPUR, Jun 27 (Bernama) - The trial of prominent lawyer Tan Sri Muhammad Shafee Abdullah, who is facing two counts of money laundering charges involving RM9.5 million he allegedly received from former prime minister Datuk Seri Najib Tun Razak, and two charges of making false statements to the Inland Revenue Board (IRB), has been moved to March next year.

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INDUSTRY UPDATES

Government plans to build New Shah Alam Court Complex - Liew

SHAH ALAM, Jun 24 (Bernama) - The government plans to build a new Court Complex in Shah Alam to replace the existing building, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.

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INDUSTRY UPDATES

Niosh offers free needs Analyses for Sabah and Labuan Workplaces

KOTA KINABALU, Jun 24 (Bernama) - The National Institute of Occupational Safety and Health (NIOSH) stands ready to conduct free needs analyses of workplace safety for organisations in Sabah and the Federal Territory of Labuan, with the aim of identifying appropriate training required.

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