malaysia - Tax & Revenue - News

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

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

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

Azmin to meet Sarawak State Government on Petroleum Tax

KUALA LUMPUR, 4 Apr (Bernama) - Economic Affairs Minister Datuk Seri Mohamed Azmin Ali will meet with the Sarawak state government at the end of the month for a discussion on how the state’s proposed five per cent tax on petroleum products can be implemented with affecting the federal government’s revenue.
Date: 04 April 2019; Type: Industry Updates; Source: Bernama

Five Amendment Bills to improve Tax Collection and Enforcement tabled for First Reading

KUALA LUMPUR, Apr 3 (Bernama) - Finance Minister Lim Guan Eng today tabled five amendment Bills, namely the Service Tax (Amendment) Bill 2019, Customs (Amendment) Bill 2019, Excise (Amendment) Bill 2019, Sales Tax (Amendment) Bill 2019, and the Free Zones (Amendment) Bill 2019 for first reading in Dewan Rakyat today. The Service Tax Bill will ...
Date: 03 April 2019; Type: Legal News; Source: Bernama

No More New Tax for this year, but Reforms - PM

KUALA LUMPUR, Mar 19 (Bernama) - There will be no new tax for this year, except for sugar tax which was announced during the 2019 Budget, Prime Minister Tun Dr Mahathir Mohamad announced today.
Date: 19 March 2019; Type: Legal News; Source: Bernama

National Income Tax still Competitive

KUALA LUMPUR, March 11(Bernama) - The income tax in this country is still competitive compared to other nations.
Date: 11 March 2019; Type: Industry Updates; Source: Bernama

Stamp Act Announcement up to Federal Government - Abang Johari

KUCHING, Mar 9 (Bernama) - Sarawak Chief Minister, Datuk Patinggi Abang Johari Tun Openg, will leave it to the Federal Government to announce a matter pertaining to stamp duty revenue which was raised by the state and Sabah in relation to the Malaysia Agreement 1963 (MA63).
Date: 09 March 2019; Type: Industry Updates; Source: Bernama

No Auditing, Investigation if Taxpayer declares Property under SVDP - IRB

KUALA LUMPUR, Mar 8 (Bernama) - No auditing or investigation will be carried out in future if the taxpayer declares his or her property under the Special Voluntary Disclosure Programme (SVDP).
Date: 08 March 2019; Type: Legal News; Source: Bernama

Income from Singapore is not Taxable - IRB

KUALA LUMPUR, Mar 10 (Bernama) - Income received from employment exercised in Singapore is not liable to tax in Malaysia, says the Inland Revenue Board of Malaysia (IRB).
Date: 10 March 2019; Type: Legal News; Source: Bernama

Tax Exemption on Vehicle Change of Ownership in Langkawi, Labuan - Customs

PUTRAJAYA, March 7 (Bernama) - Vehicles registered in the Duty Free Islands (DFIs) of Langkawi and Labuan are exempted from tax on change of ownership, said Customs Director-General Datuk Seri T. Subromaniam.
Date: 07 March 2019; Type: Legal News; Source: Bernama

Cigarette Box Stamp Duty Sticker to be upgraded

KUALA LUMPUR, Feb 28 (Bernama) - The cigarette box stamp duty stickers will be upgraded with new security features to avoid counterfeiting, said Royal Malaysian Customs (RMC) Department director-general Datuk Seri T. Subromaniam.
Date: 28 February 2019; Type: Legal News; Source: Bernama

Customs to cancel Licence of Shipping Agents making False Declarations

KUALA LUMPUR, Feb 28 (Bernama) - The Royal Malaysian Customs (RMC) today warned that it would immediately revoke the licence of any import and export shipping agents who are found making false declarations.
Date: 28 February 2019; Type: Legal News; Source: Bernama

No More Print, Postal Delivery of Income Tax Return Form - IRB

PUTRAJAYA, Feb 22 (Bernama) - The Inland Revenue Board (IRB) will no longer print and mail the income tax return form (BNCP) for this year as an effort to encourage taxpayers to use the e-filing facility.
Date: 22 February 2019; Type: Legal News; Source: Bernama

Government has begun repaying Tax Refund Arrears, says Guan Eng

KUALA LUMPUR, Feb 16 (Bernama) - The government has begun the process of repaying tax refund arrears amounting to RM37 billion, says Finance Minister Lim Guan Eng.
Date: 16 February 2019; Type: Legal News; Source: Bernama

IRB wants Individuals with Overseas Bank Accounts to declare Income

PUTRAJAYA, Feb 8 (Bernama) - The Inland Revenue Board (IRB) has issued letters and emails to taxpayers who have overseas bank accounts and who have failed to file their tax returns. “Taxpayers in this category are urged to contact IRB and declare their income immediately, said its chief executive officer Datuk Seri Sabin Samitah. He ...
Date: 08 February 2019; Type: Legal News; Source: Bernama

Notified Taxpayers under SVDP with More than RM4K Monthly Income need to register - IRB

KUALA LUMPUR, Feb 3 (Bernama) - Taxpayers who have received letters or e-mails regarding the Special Voluntary Disclosure Programme (SVDP) from the Inland Revenue Board of Malaysia (IRBM) need to register as taxpayers and declare their income if they have a monthly employment income of RM4,000 and above. IRBM in a statement today said business ...
Date: 03 February 2019; Type: Legal News; Source: Bernama

Contact IRB for Clarification on Voluntary Disclosure, Taxpayers told

PUTRAJAYA, Feb 1 (Bernama) - Tax payers who receive letters or email from the Inland Revenue Board of Malaysia (IRB) in relation to the Special Voluntary Disclosure Programme need not worry but instead contact the revenue collection department to seek further clarification.
Date: 01 February 2019; Type: Industry Updates; Source: Bernama

INDUSTRY UPDATES

No Freeze in Intake of Foreign Workers - Ministry

KUALA LUMPUR, May 18 (Bernama) - The Human Resources Ministry has clarified that there is no freeze in the recruitment of foreign workers although many applications to bring in workers have been rejected for non-compliance with the law.

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INDUSTRY UPDATES

Actions against those who tarnish Judiciary's Image, Dignity, says CJ

PUTRAJAYA, May 17 (Bernama) - Actions will be taken against those who tarnish the judiciary's image and dignity, says Chief Justice Datuk Tengku Maimun Tuan Mat.

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INDUSTRY UPDATES

Right Decisions only Way for Judiciary to recover Glory - Attorney General

PUTRAJAYA, May 17 (Bernama) - Attorney-General Tommy Thomas says judges must always endeavour to make the right decisions, without fear or favour, and regardless of the personality of the party or the accused before them.

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INDUSTRY UPDATES

Transport Ministry makes it More Flexible for e-hailing Drivers to obtain PSV Licence

KUALA LUMPUR, May 17 (Bernama) - The Ministry of Transport is willing to make it easier for e-hailing drivers to clock in the six hours of course time to obtain a Public Transport Vehicle (PSV) licence.

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INDUSTRY UPDATES

RM1.56 Mln Fine on Poachers, highest so far for Wildlife Crimes

PUTRAJAYA, May 17 (Bernama) - The Kuala Terengganu Sessions Court's decision to fine RM1.56 million each on two Vietnamese poachers has been the highest amount so far for wildlife crimes in the country's history, said Water, Land and Natural Resources Minister Dr Xavier Jayakumar.

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INDUSTRY UPDATES

Adib Inquest: Lawyer grills Forensics Expert on 'Probability Report'

SHAH ALAM, May 16 (Bernama) - A lawyer questioned the ‘probability report’ of a specialist medical witness in the inquest into the death of Muhammad Adib Mohd Kassim, that injuries to the right chest of the firefighter were caused by a curb or road shoulder.

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INDUSTRY UPDATES

Government agrees to appoint a Youth to represent them in the Senate

BANGI, May 15 (Bernama) - Prime Minister Tun Dr Mahathir Mohamad announced that the government has agreed to appoint a member of the Senate from among the youths with wide expertise and knowledge in the field and issues on the development of youths.

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INDUSTRY UPDATES

MoF sets up Debt Management Office

KUALA LUMPUR, May 15 (Bernama) - The Ministry of Finance has set up the Debt Management Office (DMO) to review and manage the government’s debt and liabilities.

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INDUSTRY UPDATES

Universities, Industry Players to join forces for IR 4.0

GEORGE TOWN, Apr 29 (Bernama) - The joint forces of the brains in the universities and the capacity and capabilities of key industries will make a change for a better world through the Fourth Industrial Revolution (IR 4.0), said Universiti Sains Malaysia (USM) vice-chancellor Prof Dr Asma Ismail.

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INDUSTRY UPDATES

BNM appoints Two External Members to Monetary Policy Committee

KUALA LUMPUR, Apr 29 (Bernama) - Bank Negara Malaysia (BNM) has reappointed Professor Dr Yeah Kim Leng and appointed Datuk Dr Gan Wee Beng as external members of its Monetary Policy Committee (MPC) effective April 1, 2019.

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INDUSTRY UPDATES

Those given Trust, Power should Build a better Nation Based on Rule of Law - Sultan Nazrin

KUALA LUMPUR, Apr 25 (Bernama) - The Sultan of Perak, Sultan Nazrin Shah said those given the trust, power and position, now have the opportunity to build a better Malaysia based on the rule of law.

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INDUSTRY UPDATES

King decides High Court Registry Location on Advice of PM - Sabah Law Society

KOTA KINABALU, Apr 25 (Bernama) - The principal registry of the High Court of Sabah and Sarawak can be relocated to any place in Sabah or Sarawak as determined by the Yang di-Pertuan Agong acting on the advice of the prime minister, the Sabah Law Society (SLS) said today.

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INDUSTRY UPDATES

Mobile Application on Labour Market Information Launched

PUTRAJAYA, Apr 23 (Bernama) - Information on Malaysia's labour market is now available at the fingertips with the launch of a new mobile application, Labour Market Information Gateway or LMI Gateway today.

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INDUSTRY UPDATES

Former Lawyer Pleads not Guilty to CBT Over Client's House Sale Proceeds

KUALA LUMPUR, Apr 23 (Bernama) - A former lawyer pleaded not guilty at the Sessions Court here today to a charge of criminal breach of trust amounting to RM338,000 which was the proceeds from the sale of a house belonging to his client three years ago.

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INDUSTRY UPDATES

Cybersecurity Challenge should be viewed as an Opportunity - Gobind

CYBERJAYA, Apr 23 (Bernama) - A national innovation ecosystem needs to be developed to transform cybersecurity challenges towards forming new opportunities, ideas and solutions, Communications and Multimedia Minister Gobind Singh Deo said today.

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