malaysia - Tax & Revenue - News

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

Exemption of RPGT, Service Tax from January 1, 2019

KUALA LUMPUR, Dec 30 (Bernama) - The government has agreed to exempt the Real Property Gains Tax (RPGT) to individual Malaysian citizens who dispose of their properties at a consideration price of RM200,000 and below. According to a statement by Finance Minister Lim Guan Eng, the RPGT exemption, effective from Jan 1, 2019, were for the disposa ...
Date: 31 December 2018; Type: Legal News; Source: Bernama

Four More Types of services to be covered under SST

MELAKA, Dec 31 (Bernama) - The scope of the Sales and Services Tax (SST) will be expanded to cover four new types of services effective March 1.
Date: 31 December 2018; Type: Legal News; Source: Bernama

Apply for LLP Tax Registration Number Online

KUALA LUMPUR, Dec 31 (Bernama) - The Inland Revenue Board of Malaysia (LHDNM) has announced that taxpayers may now apply for their Limited Liability Partnership (LLP) tax registration number online.
Date: 31 December 2018; Type: Industry Updates; Source: Bernama

Stamp Duty Increase for Properties exceeding RM1 Mln now effective July 1, 2019

KUALA LUMPUR, Dec 29 (Bernama) - The increase of one per cent in stamp duty for the instrument of transfer for property exceeding RM1 million to RM 2.5 million is now effective July 1, 2019.
Date: 29 December 2018; Type: Legal News; Source: Bernama

Nur Sajat fined RM2,700 for failing to submit GST Return Statements

SHAH ALAM, Dec 19 (Bernama) - Cosmetic entrepreneur Nur Sajat was fined RM2,700, in default six weeks jail, by the Sessions Court here today for three charges under the Goods and Services Tax Act.
Date: 19 December 2018; Type: Legal News; Source: Bernama

No Multi-layer Sales Tax on Petroleum Products, says Abang Johari

KUCHING, Disember 14 (Bernama) - Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg today clarified that only the export sales tax will be imposed on petroleum products.
Date: 14 December 2018; Type: Legal News; Source: Bernama

Ministry received 823 Complaints since implementing SST

KUALA LUMPUR, Dec 5 (Bernama) - Ministry of Domestic Trade and Consumer Affairs have received a total of 823 complaints mostly related to the rise in prices of goods since the implementation of the Sales and Service Tax (SST) on Sept 1.
Date: 05 December 2018; Type: Industry Updates; Source: Bernama

Individual Tax Exemption for Women who return to work from 2019

KUALA LUMPUR, Nov 26 (Bernama) - Beginning next year, the government will give individual tax exemptions of up to 12 months to women who return to work, said Human Resources Minister M. Kula Segaran. He said this would encourage women to return and the exemption programme would be supervised by Talent Corporation Malaysia Berhad (TalentCorp).
Date: 26 November 2018; Type: Legal News; Source: Bernama

IRB bars 505 Individuals in Sabah from Overseas Travel over Unpaid Taxes

KENINGAU, Nov 19 (Bernama) - Inland Revenue Board (IRB) chief executive officer Datuk Seri Sabin Samitah said as at October 2018, 505 individuals including company directors in Sabah have been barred from travelling abroad for failing to settle tax arrears amounting to RM45 million. He said from the total, 10 individuals and company directors ...
Date: 19 November 2018; Type: Legal News; Source: Bernama

Sabah Sales Tax Enactment amended for New System of Tax Payment

KOTA KINABALU, Nov 15 (Bernama) - The Sabah State Assembly today passed a bill to amend the Sabah Sales Tax Enactment to introduce a new system of tax payment effective Jan 1, 2019.
Date: 15 November 2018; Type: Legal News; Source: Bernama

92,682 Businesses have registered under SST - Lim

KUALA LUMPUR, Nov 15 (Bernama) - A total of 92,682 businesses have registered under the Sales and Services Tax (SST) regime as of Oct 23, the Dewan Rakyat heard today.
Date: 15 November 2018; Type: Industry Updates; Source: Bernama

IRB puts 79,786 Tax Evaders on Notice

KUALA LUMPUR, Nov 13 (Bernama) - The Inland Revenue Board (IRB) has identified 79,786 individuals, companies, organisations, cooperatives and more with property and extraordinary wealth who have yet to pay tax.
Date: 13 November 2018; Type: Industry Updates; Source: Bernama

Five per cent Tax on Petroleum Products will affect Market - Azmin

KUCHING, Nov 7 (Bernama) - The Sarawak government’s move to impose a five per cent sales tax on petroleum products produced in the state will not only affect Petronas but also the market, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
Date: 07 November 2018; Type: Industry Updates; Source: Bernama

Tax on Imported Online Services will be implemented in Stages

PUTRAJAYA, Nov 7 (Bernama) - The process of implementing new taxes on imported online services will be carried out in stages, says the Ministry of Finance's National Budget Office Director Johan Mahmood Merican. He said the process would begin with imported online services in the business-to-business segment, followed by the business-to-consum ...
Date: 07 November 2018; Type: Legal News; Source: Bernama

Stamp Duty exemption for Purchase of First Residential Home

KUALA LUMPUR, Nov 2 (Bernama) - The government is proposing a 100 per cent stamp duty exemption on the instrument of transfer and the loan agreement for the purchase of a first residential home priced up to RM300,000.
Date: 02 November 2018; Type: Legal News; Source: Bernama

Tax Incentives proposed to achieve Industry 4.0 Goals

KUALA LUMPUR, Nov 2 (Bernama) - The government has proposed several tax incentives for stakeholders implementing Industry4WRD Policy aspirations and goals.
Date: 02 November 2018; Type: Industry Updates; Source: Bernama

INDUSTRY UPDATES

White Paper on Defence to be tabled in Parliament this Year

KOTA KINABALU, Jan 17 (BERNAMA) - The Ministry of Defence will table a White Paper on Defence which will detail the tasks and roles of the Malaysian Armed Forces, said Defence Deputy Minister Senator Liew Chin Tong.

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INDUSTRY UPDATES

Chief Justice calls for Government Audit on Rights of Indigenous People

KOTA KINABALU, Jan 17 (Bernama) - Chief Justice Tan Sri Richard Malanjum today proposed that the government conduct an audit on the rights of the indigenous people to ensure that they are in line with the United Nations declaration.

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INDUSTRY UPDATES

Complaint Boxes for Iskandar Puteri Schools to tackle Crimes

ISKANDAR PUTERI, Jan 14 (Bernama) - The Iskandar Puteri District police have suggested for the district’s schools to provide boxes for information or complaints to tackle various crimes involving students.

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INDUSTRY UPDATES

Tax Amnesty Programme aims to reduce People's Burden, says IRB

KUALA LUMPUR, Jan 14 (Bernama) - The Special Voluntary Disclosure Programme (SVDP) is a clear indication of the government's desire to reduce the burden of the people through taxation, Inland Revenue Board (IRB) chief executive officer Datuk Seri Sabin Samitah said.

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INDUSTRY UPDATES

Tengku Abdullah to be proclaimed as New Sultan of Pahang on January 15

PEKAN, Jan 12 (Bernama) - The Regent of Pahang Tengku Abdullah Sultan Ahmad Shah will be proclaimed as the sixth Sultan of Pahang, succeeding Sultan Ahmad Shah, on Jan 15.

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INDUSTRY UPDATES

Judges, Judicial Officers receive DoJ Training not due to High Profile Cases - CJ

PUTRAJAYA, Jan 11 (Bernama) - Chief Justice Tan Sri Richard Malanjum explained that the training of Malaysian judges and judicial officers by the United States Department of Justice (DOJ) was not due to the high profile money laundering cases, such as the ones involving former Prime Minister Datuk Seri Najib Tun Razak.

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INDUSTRY UPDATES

Adapt Technology and Work from anywhere, CJ tells Lawyers

PUTRAJAYA, Jan 11 (Bernama) - With the tagline ‘Now Anywhere Can Work’, lawyers can now deal with their cases from anywhere through the use of technology introduced by the judiciary in order to have an efficient court system, said Chief Justice Tan Sri Richard Malanjum today.

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INDUSTRY UPDATES

Malaysian Bar will continue to voice Concerns over use of Oppressive Laws - President

PUTRAJAYA, Jan 11 (Bernama) - The Malaysian Bar will continue to voice its concerns on the continued use of oppressive laws, said its president George Varughese.

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INDUSTRY UPDATES

Full Force of the Law to be applied to Wrongdoers, says AG

PUTRAJAYA, Jan 11 (Bernama) - Attorney-General Tommy Thomas said today the full force of the law would be applied to wrongdoers.

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INDUSTRY UPDATES

Matrade appoints Halim Mohamad as Chairman

KUALA LUMPUR, Jan 11 (Bernama) - Malaysia External Trade Development Corporation (Matrade) has appointed Tan Sri Halim Mohammad as its seventh chairman, effective Jan 1, 2019.

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INDUSTRY UPDATES

Rizal granted Permission to transfer Corruption Case to High Court

KUALA LUMPUR, Jan 9 (Bernama) - The case of former special officer to the former Prime Minister, Datuk Rizal Mansor, who faces four corruption charges involving a solar hybrid system project for rural schools in Sarawak will be heard in the High Court.

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INDUSTRY UPDATES

Kamis Samin is new Chief Administrator of Parliament

KUALA LUMPUR, Jan 7 (Bernama) - Prime Minister’s Department Ceremonial and International Conference Secretariat Division secretary Datuk Kamis Samin has been appointed as the new Chief Administrator of Parliament, effective today.

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INDUSTRY UPDATES

Ku Nan's Case to be tried in High Court

KUALA LUMPUR, Jan 7 (Bernama) - The case of former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor, who is facing two charges of receiving bribes totalling RM3 million, over the approval of an application by a company to raise the development related ratio in Jalan Semarak Kuala Lumpur, will be tried in the High Court.

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INDUSTRY UPDATES

No Bail for former Goldman Sachs Banker Roger Ng

KUALA LUMPUR, Jan 7 (Bernama) - Former Goldman Sachs banker Roger Ng will remain in prison after the Sessions Court here today dismissed his application to be released on bail pending his extradition proceedings to the United States to face three criminal charges relating to 1Malaysia Development Berhad (1MDB).

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INDUSTRY UPDATES

SC appoints Ong as Executive Director effective January 4

KUALA LUMPUR, Jan 7 (Bernama) - The Securities Commission Malaysia (SC) has appointed Ong Liang Heng as executive director in the chairman's office, effective Jan 4.

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