malaysia - Tax & Revenue - News

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

GST Refunds being paid out in Stages: Customs D-G

PUTRAJAYA, Jan 30 (Bernama) - Most of the claims for Goods and Services Tax (GST) refunds submitted to the Royal Malaysian Customs Department have moved past the review process with payouts having commenced and expected to proceed in stages until year-end, says director-general Datuk Seri T. Subromaniam.
Date: 30 January 2019; Type: Industry Updates; Source: Bernama

Stringent Measures to spot Fraudulent GST Refund Claims - Customs Department

KUALA LUMPUR, Jan 24 (Bernama) - The Royal Malaysian Customs Department implemented stringent measures to minimise the leakages in the refund process of the Goods and Services Tax (GST) as well as to curb activities of companies submitting fraudulent claims. Customs Department’s central zone internal tax division operations director Datu ...
Date: 24 January 2019; Type: Legal News; Source: Bernama

Government in Process of paying GST, Income Tax Refunds

PUTRAJAYA, Jan 18 (Bernama) - The government is now in the process of repaying the tax refund arrears amounting to RM37 billion, said Finance Minister Lim Guan Eng. He said the arrears, comprising RM18 billion for income tax and RM19 billion for the Goods and Services Tax based on the estimation made in the 2019 Budget, would be paid in stages ...
Date: 18 January 2019; Type: Legal News; Source: Bernama

Income from Paid Reviews, Brand Endorsement taxable: IRB

KUALA LUMPUR, Jan 17 (Bernama) - Internet celebrities and other individuals - including minors - who earn income from paid reviews, brand endorsements and businesses conducted via the social media are subject to income tax, if they earn more than RM5,000 a month.
Date: 17 January 2019; Type: Legal News; Source: Bernama

False Claims for GST Refund: Businessman slapped Additional 224 Charges

IPOH, Jan 15 (Bernama) - A businessman who is already facing 22 charges of making false claims on Goods and Services Tax refunds amounting to more than RM1 million, was slapped with 224 additional charges of the same in the Sessions Court here today.
Date: 15 January 2019; Type: Legal News; Source: Bernama

IRB to scrutinize e-Commerce Businesses, Social Media

KUALA LUMPUR, Jan 14 (Bernama) - The Inland Revenue Board (IRB) will look deeper into e-commerce businesses, including businesses leveraging on social media platforms, to collect information on misreported asset declarations, said chief executive officer Datuk Seri Sabin Samitah.
Date: 14 January 2019; Type: Legal News; Source: Bernama

Tourism Tax Revenue to be distributed to State Governments in Q1 - Lim

KUALA LUMPUR, Jan 7 (Bernama) - The federal government will distribute the 50 per cent tourism tax revenue to state governments in the first quarter (Q1) of 2019, says Finance Minister Lim Guan Eng.
Date: 07 January 2019; Type: Industry Updates; Source: Bernama

INDUSTRY UPDATES

Malanjum keeping Mum about his Successor

KUALA LUMPUR, Mar 20 (Bernama) - Chief Justice Tan Sri Richard Malanjum, who is due for compulsory retirement in April only smiled broadly and chose to remain secretive when asked about his successor.

Read More

INDUSTRY UPDATES

MP Noh Omar expelled from Dewan Rakyat for Three Days

KUALA LUMPUR, Mar 19 (Bernama) - Tanjung Karang MP Tan Sri Noh Omar has been expelled from the Dewan Rakyat for three days from today.

Read More

INDUSTRY UPDATES

Selangor wants tougher Environmental Laws

SHAH ALAM, Mar 17 (Bernama) - The Selangor government wants to enforce more stringent laws to address issues related to environmental pollution in the state, said Menteri Besar Amirudin Shari.

Read More

INDUSTRY UPDATES

Rosmah's Graft Case transferred to High Court

KUALA LUMPUR, Mar 15 (Bernama) - The High Court here today allowed the prosecution's application to transfer from the Sessions Court to the High Court the case involving two graft charges filed against Datin Seri Rosmah Mansor, who is the wife of former Prime Minister Datuk Seri Najib Tun Razak.

Read More

INDUSTRY UPDATES

SC to facilitate Greater Investor Inclusiveness

KUALA LUMPUR, March 14 (Bernama) - Opening local corporate bonds and sukuk to retail investors who meet the requirements set are among the steps taken by the Securities Commission Malaysia (SC) to promote investors inclusiveness in the local market.

Read More

INDUSTRY UPDATES

SC aims Further Expansion of Islamic Capital Market, says Chairman

KUALA LUMPUR, March 14 (Bernama) - The Securities Commission (SC), the regulatory body of the capital market, aim to foster growth that is premised on long-term value creation by intensifying efforts to further expand the Islamic capital market as well as the closely-linked sustainable finance segment.

Read More

INDUSTRY UPDATES

CJ seeks to remove Parts of Hamid Sultan's Affidavit

KUALA LUMPUR, Mar 13 (Bernama) - Chief Justice Tan Sri Richard Malanjum today filed an application to remove parts of the supporting affidavit filed Court of Appeal Judge Datuk Dr Hamid Sultan Abu Backer in the lawsuit by the late Karpal Singh’s daughter, claiming that it was outrageous, insulting and an attack to the Judiciary.

Read More

INDUSTRY UPDATES

Up to PM to shortlist Candidates for CJ's Post - Liew

KUALA LUMPUR, Mar 12 (Bernama) - The Law Minister in the Prime Minister’s Department Datuk Liew Vui Keong today said that he has no information about the candidates shortlisted to be appointed as the new Chief Justice to replace Tan Sri Richard Malanjum who will retire from the post next month.

Read More

INDUSTRY UPDATES

Sabah helps Children without Documents through Legalization Program

KOTA KINABALU, Mar 12 (Bernama) - Children born in Sabah and categorised as foreigners even though one of their parents were local residents, will be given aid through a legalisation programme which will ensure a better future for them.

Read More

INDUSTRY UPDATES

National Income Tax still Competitive

KUALA LUMPUR, March 11(Bernama) - The income tax in this country is still competitive compared to other nations.

Read More

INDUSTRY UPDATES

Najib seeks Court Directive on gag Order against Media, Public

PUTRAJAYA, Mar 11 (Bernama) - Datuk Seri Najib Tun Razak wants a court directive to inform members of the public and media on what can and cannot be discussed and published pertaining to his criminal case involving SRC International Sdn Bhd funds, the Court of Appeal heard.

Read More

INDUSTRY UPDATES

King's Inaugural Speech at First Meeting of Second Term of 14th Parliament draws Attention

KUALA LUMPUR, Mar 11 (Bernama) - The first meeting of the second term of Parliament begins today which will be aired live via television and live stream.

Read More

INDUSTRY UPDATES

Dewan Rakyat : Proposal to restore Sabah, Sarawak's Status to be Main Focus

KUALA LUMPUR, Mar 9 (Bernama) - The proposal to restore the original status of Sabah and Sarawak as enshrined in the Malaysia Agreement 1963 (MA63) is expected to be the focus of the first meeting of the second session of the 14th Parliament which opens Monday.

Read More

INDUSTRY UPDATES

Appeals Court to wait for Federal Court Decision to hear Puncak Niaga's Appeal

PUTRAJAYA, Mar 8 (Bernama) - The Court of Appeal today postponed hearing of an appeal by Puncak Niaga Holdings Bhd to reinstate its RM13.5 billion lawsuit against two former Selangor menteris besar and the Selangor government over the restructuring of the state water industry.

Read More

INDUSTRY UPDATES

Nik Azman Nik Abdul Majid New Auditor-General

PUTRAJAYA, Mar 8 (Bernama) - Datuk Nik Azman Nik Abdul Majid, the Economic Affairs Ministry secretary-general, is the new auditor-general.

Read More