malaysia - Tax & Revenue - Notices & Directives

Service Tax Amendments 2019

This is to notify the amendments to Service Tax Treatment effective from 1st of January 2019.
Date: 31 December 2018; Type: Circular; Source: Malaysia Sales & Service Tax (SST)

Income from Letting of Real Property

This Public Ruling explains the letting of real property as a business source under paragraph 4(a) of the Income Tax Act 1967 (ITA) and letting of real property as a non-business source under paragraph 4(d) of the ITA. Public Ruling No. 12/2018
Date: 19 December 2018; Type: Rule; Source: Inland Revenue Board

Tax Incentive for Investment in Bionexus Status Company

The objective of this Public Ruling is to explain the tax incentives offered to investors who have invested in a BioNexus Status Company in Malaysia. Public Ruling No. 10/2018
Date: 04 December 2018; Type: Rule; Source: Inland Revenue Board

Withholding Tax on Special Classes of Income

The objective of this Public Ruling is to explain the special classes of income that are chargeable to tax under section 4A of the Income Tax Act 1967; deduction of tax from special classes of income; and consequences of not deducting and remitting the tax from special classes of income. Public Ruling No. 11/2018
Date: 05 December 2018; Type: Rule; Source: Inland Revenue Board

Service Tax Guide on Advertising Services

This Guide is prepared to assist a registered person in understanding the service tax treatment on advertising services. From 1 September 2018, the provision of advertising services under prescribed circumstances are subject to service tax.
Date: 09 November 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Information Technology Services

The Guide is prepared to assist a registered person in understanding the service tax treatment on information technology services. From 1st September 2018, the provision of Information Technology Services is subject to service tax.
Date: 09 November 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Telecommunication Services

This Guide is prepared to assist a registered person in understanding the service tax treatment on the provision of telecommunication services. From 1 September 2018, under Group I, Item 2(a), First Schedule of the Service Tax Regulations 2018, the provision of Telecommunication services and Other services in connection with telecommunica ...
Date: 31 October 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Service Tax Guide on Food & Beverages

This Guide is prepared to assist a registered person in understanding the service tax treatment on the provision of Food and Beverage (F&B). From 1st September 2018, under Group B, First Schedule of the Service Tax Regulations 2018, the provision of F&B under prescribed circumstances is subject to service tax.
Date: 02 November 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales Tax and Service Tax Guide on Customs Ruling

This Guide is prepared to assist a registered person in understanding the provisions of the Sales Tax Act 2018 and the Service Tax Act 2018 in relation to customs ruling and the procedures related to the application of a customs ruling from the Royal Malaysian Customs Department. Effective from 1 September 2018, Sales Tax Act 2018 and the Serv ...
Date: 30 October 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

Sales and Service Tax (SST) Announcements No. 1 November 2018

This Circular is to notify all accountants that guide on Custom Ruling, Telecommunication Services, and Food & Beverages are made available for guidance and reference. Circular No. 88/2018
Date: 14 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

IRB Operational Guidelines No. 1/2018 - Special Program for Voluntary Disclosure

This Circular is to notify all accountants that the Inland Revenue Board of Malaysia had issued an Operational Guideline on 3 November 2018, which outlines the implementation procedures of the Special Program for Voluntary Disclosure for eligible taxpayers following the 2019 Budget. Circular No. 89/2018
Date: 14 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

Special Program for Voluntary Disclosure

This Special Program is offered to encourage taxpayers to make a voluntary disclosure in reporting their income and paying the tax within the stipulated period and it also gives an opportunity to taxpayers to report the correct income in view of the implementation of the Common Reporting Standard. Operational Guidelines No. ...
Date: 03 November 2018; Type: Guideline; Source: Inland Revenue Board

Professional Skepticism Lies at the Heart of a Quality Audit

This is to notify all accountants that the International Auditing and Assurance Standards Board of the International Federation of Accountants have released a new publication known as the Professional Skepticism Lies at the Heart of a Quality Audit. Circular No. 84/2018
Date: 31 October 2018; Type: Circular; Source: Malaysian Institute of Accountants

Submission of Annual Return and Financial Statements via the Malaysian Business Reporting System (MBRS) Portal

This is to notify that the date of submission of the annual return, Certificate for Exempt Private Company and unaudited financial statements through the Malaysian Business Reporting System (MBRS) which is mandatory are made available for guidance and reference. Circular No. 82/2018
Date: 18 October 2018; Type: Circular; Source: Malaysian Institute of Accountants

Sales and Service Tax (SST) Announcements

This is to notify that the Royal Malaysian Customs Departments has made available the guides on Special Area and Customs Ruling. Circular No. 79/2018
Date: 17 October 2018; Type: Circular; Source: Malaysian Institute of Accountants

Notification of Income Tax Related Matters issued by the Inland Revenue Board of Malaysia

This is to notify all accountants that the Inland Revenue Board of Malaysia has issued various Guidelines and Public Rulings relating to the Income Tax. Circular No. 80/2018
Date: 17 October 2018; Type: Circular; Source: Malaysian Institute of Accountants

Taxation of Unit Holders of Real Estate Investment Trusts/Property Trust Funds

This public ruling explains the tax treatment on the distribution of income from real estate investment trusts/property trust funds in Malaysia to it’s unit holders. Public Ruling No. 9/2018
Date: 12 October 2018; Type: Rule; Source: Inland Revenue Board

Tax Incentives for BioNexus Status Companies

This Public Ruling explains the tax treatment in respect of tax incentives for a BioNexus Status Company (BSC) in Malaysia. Public Ruling No. 8/2018
Date: 09 October 2018; Type: Rule; Source: Inland Revenue Board

Accelerated Capital Allowance

This Public Ruling explains the tax treatment on qualifying plant and machinery for the purpose of claiming Accelerated Capital Allowances (ACA) or the prescribed rates in determining the statutory income from a business. Public Ruling No. 7/2018
Date: 08 October 2018; Type: Rule; Source: Inland Revenue Board

Sales Tax and Service Tax Guide on Customs Ruling

This guide helps in understanding the provisions of the Sales Tax Act 2018 and the Service Tax Act 2018 in relation to customs ruling and the procedures related to the application of a customs ruling from the Royal Malaysian Customs Department. Effective from 1 September 2018, Sales Tax Act 2018 and the Service Tax Act 2018 together with its respec ...
Date: 05 October 2018; Type: Guide; Source: Malaysia Sales & Service Tax (SST)

INDUSTRY UPDATES

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Chief Justice calls for Government Audit on Rights of Indigenous People

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Matrade appoints Halim Mohamad as Chairman

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Rizal granted Permission to transfer Corruption Case to High Court

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Kamis Samin is new Chief Administrator of Parliament

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Ku Nan's Case to be tried in High Court

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No Bail for former Goldman Sachs Banker Roger Ng

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SC appoints Ong as Executive Director effective January 4

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