malaysia - Tax & Revenue - Notices & Directives

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

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

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)

Invitation to Submit Operational Issues on Matters Related to the Inland Revenue Board of Malaysia

This is to invite all accountants to submit their operational issues on matters related to the Inland Revenue Board of Malaysia (IRBM) with specific backgrounds to the Institute's Taxation Practice Committee. Circular No. 13/2019
Date: 30 January 2019; Type: Circular; Source: Malaysian Institute of Accountants

Stamp Duty Exemption Orders for Purchase of Residential Property

This is to notify all accountants that Stamp duty is exempted on loan agreement for the purchase of residential property less than RM300,000. Circular No. 3/2019
Date: 02 January 2019; Type: Circular; Source: Malaysian Institute of Accountants

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

Sales and Service Tax (SST) Announcements No. 2 November 2018

This Circular is to notify all accountants that the guides on Advertising Services and  Information Technology Services are made available for guidance and reference. Circular No. 92/2018
Date: 21 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

Bills tabled in the Parliament on 19 November 2018 for first reading

This Circular is to notify that the Finance Bill 2018, Income Tax (Amendment) Bill 2018, and the Labuan Business Activity Tax (Amendment) Bill 2018 were tabled in the Parliament on 19 November 2018 for first reading. Circular No. 94/2018 
Date: 21 November 2018; Type: Circular; Source: Malaysian Institute of Accountants

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)

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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