malaysia - Tax & Revenue - Notices & Directives

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)

Expression of Interest for Members of Working Groups Established by the Digital Technology Implementation Committee

This is to notify that Malaysian Institute of Accountants (MIA) has launched the MIA's Digital Technology Blueprint: Preparing the Malaysian Accountancy Profession for the Digital World in July 2018. Subsequently, the Digital Technology Implementation Committee (DT IC) was established by the Institute to drive the implementation of this B ...
Date: 27 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

RMCD's Announcement, Statutory Order and IRBM's Media Release

This is to notify the various announcements, Statutory Orders and Inland Revenue Board of Malaysia's (IRBM) media releases made available by the Royal Malaysian Customs Department (RMCD). Circular No. 38/2019
Date: 27 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Joint Tax Working Group on Malaysian Financial Reporting Standards

This is to notify that the draft Discussion Paper on the major tax implications related to the implementation of the Malaysian Financial Reporting Standards (MFRS) 15 Revenue from Contracts with Customers is available for comment by 3 April 2019. Circular No. 35/2019
Date: 22 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

RMCD’s Announcement, Public Ruling No 2/2019 and Statutory Orders

This is to notify the various Royal Malaysian Customs Department (RMCD) announcements and Statutory Orders. Circular No. 32/2019
Date: 20 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Director’s Liability

The objective of this Public Ruling is to explain the liabilities of a company director in respect of the company’s tax i.e. any tax that is due and payable by a company and any debt that is due and payable by the company as an employer in relation to tax deductions from emoluments and pensions under the Monthly Tax Deduction. Public Rul ...
Date: 14 March 2019; Type: Rule; Source: Inland Revenue Board

Malaysian Investment Development Authority's (MIDA) Newsletters and Service Tax Related Matters

This is to notify that MIDA's Newsletters relating to Service Tax matters is made available to all accountants. Circular No. 30/2019
Date: 13 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

IRBM's Media Releases and Statutory Order

This is to inform all accountants that various media releases have been published by the Inland Revenue Board of Malaysia (IRBM) relating to Income Tax. Circular No. 31/2019
Date: 13 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Sales Tax Guide on Sales Tax Deduction Facility

The Guide on Sales Tax Deduction Facility is provided to assist a registered manufacturer in understanding the implementation of the sales tax deduction (formerly known as the Credit System) beginning 1 January 2019.
Date: 13 January 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Customs Agent Services

The Guide is prepared to assist in understanding the Service Tax treatment on customs agent services.
Date: 05 March 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Industry Guide Issued by the RMCD for Broking and Underwriting Services

This is to notify all accountants that the Royal Malaysian Customs Department has issued the industry guide for Broking and Underwriting Services. Circular No. 24/2019
Date: 06 March 2019; Type: Circular; Source: Malaysian Institute of Accountants

Service Tax Guide on Broking and Underwriting Services

The Guide is prepared to assist you in understanding the service tax treatment on the provision of broking and underwriting services. Effective 1 January 2019, under Group I, item 12, First Schedule of the Service Tax Regulations 2018, the provision of broking and underwriting services under prescribed circumstances are subject to se ...
Date: 27 February 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Latest Announcement of Sales and Service Tax Related Matters

This is to notify the various announcements relating to Sales and Service Tax Related Matters. Circular No. 20/2019
Date: 27 February 2019; Type: Circular; Source: Malaysian Institute of Accountants

Recent Statutory Orders Gazetted in Relation to Income Tax Act 1967 and Stamp Act 1949

This is to notify the various statutory orders relating to the Income Tax Act 1967 which have been recently gazetted. Circular No. 21/2019
Date: 27 February 2019; Type: Circular; Source: Malaysian Institute of Accountants

IRBM Issues Letters and E-mails to Further Explain the Special Voluntary Disclosure Programme

The Inland Revenue Board of Malaysia (IRBM) is in the midst of sending letters and e-mails to registered taxpayers to provide an explanation on the Special Voluntary Disclosure Programme (SVDP) offered by the government.
Date: 27 February 2019; Type: Press Release; Source: Inland Revenue Board

Professional Indemnity Insurance

The objective of this Public Ruling is to explain the deductibility of premium paid for a Professional Indemnity Insurance (PII) policy, and the tax treatment on insurance proceeds received and compensation paid in relation to a PII policy. Public Ruling No. 1/2019
Date: 18 February 2019; Type: Rule; Source: Inland Revenue Board

Notification of Direct Tax Related Matters No. 1, February 2019

This is to notify that the Inland Revenue Board of Malaysia (IRBM) has made available various notifications related to Direct Tax Matters. Circular No. 15/2019
Date: 13 February 2019; Type: Circular; Source: Malaysian Institute of Accountants

General Guide on Sales Tax

This General Guide on Sales Tax is a part of a series of educational materials made available to help businesses prepare for the implementation of sales tax in Malaysia.
Date: 18 January 2019; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

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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