Payments to resident agents, dealers and distributors are subject to 2% Withholding Tax
(Updated on 9 July 2022) Section 107D was inserted to the Income Tax Act subsequent to the Budget 2022 announced by the Prime Minister....
- Dec 23, 2021
- 2 min
Tax Rebate (RM20,000 per year) for Newly Established SMEs
(Updated on 24 Dec 2021) An income tax rebate up to RM20,000 per year for 3 years of assessment was given to newly established small and...
- Nov 22, 2021
- 1 min
Special Income Remittance Programme / Program Khas Peremitan Pendapatan (PKPP)
In view of the imposition of tax on foreign sourced income, IRBM has introduced a Special Income Remittance Programme (PKPP) on 16...
- Nov 18, 2021
- 3 min
Is foreign sourced income taxable when remitted into Malaysia?
One of the most significant proposed changes to our tax system is imposition of tax on foreign sourced income. Once the amendments to the...
- Jun 4, 2021
- 1 min
LHDN would allow deferment of tax payments and penalties
Further to the announcement by the Prime Minister that tax payments and penalties could be deferred under the Pemerkasa Plus Stimulus...
- Jun 2, 2021
- 2 min
Extension of Time FAQ from LHDN (dated 2 June 2021) In Relation to MCO 3.0
Please click here for the FAQ issued by LHDN The FAQ appeared to be the latest policies of LHDN in response to the Movement Control Order...
- Mar 15, 2021
- 2 min
Employers Must Inform IRBM When Hiring A New Staff and When A Staff Is Resigning From the Company
We have received a few enquiries on this question recently – Does an employer need to notify the tax department when employing a new...
- Mar 12, 2021
- 4 min
Transfer Pricing Rules
Transfer Pricing Rules (updated on 12 March 2021) What is transfer pricing? Principle of arm’s length Is transfer pricing a bad thing?...
- Feb 28, 2021
- 1 min
Special Tax Deduction for Rental Reduction for SME Tenants 2.0
Pursuant to PERMAI Assistance Package announced on 18 January 2021, special tax deduction granted to taxpayers who provide a rental...
- Jul 31, 2020
- 1 min
Due Date for Final GST Amendment
The due date for submission of any amendment to the final GST-03 return is on or before 31 August 2020 subject to meeting of conditions...
- Jun 9, 2020
- 1 min
Tax incentives for Company Relocating into Malaysia
To attract foreign companies to relocate their business into Malaysia by addressing the of re-shoring, the government has introduced the...
- Apr 27, 2020
- 2 min
Special Tax Deduction on Rental Reduction for SMEs
Owners of buildings or business premises that provide at least 30% reductions or waiver on rent to SME tenants shall be given a special...
- Apr 6, 2020
- 2 min
Summary of RM10 Billion Additional Economic Stimulus Package for SMEs (Announced on 6 April 2020)
1. Wage Subsidy - All companies incorporated before 1 Jan 2020 and are registered with PERKESO. It seems that there is no requirement to...
- Oct 14, 2019
- 1 min
Highlights of Malaysia's Budget 2020
Click to open this PDF: Highlights of Malaysia's Budget 2020
- Jul 30, 2019
- 1 min
Special Programme for Voluntary Disclosure (Deadline: 30 September 2019)
The Inland Revenue Board (IRB) has received 486,360 cases of voluntarily tax declaration under the SPVD programme. The deadline for this...
- Jul 18, 2019
- 3 min
Restriction on Deductibility of Interest Guidelines (Earning Stripping Rules)
Income Tax (Restriction on Deductibility of Interest) Rules 2019 which is also known as earning stripping rules (ESR) has been gazetted...
- Apr 9, 2019
- 2 min
Special Programme for Voluntary Disclosure (Updates: Deadline extended to 30 September 2019)
381,979 taxpayers had voluntarily disclosed their previously undeclared income to the Inland Revenue Board (IRB) under the Special...
- Apr 4, 2019
- 3 min
Earnings Stripping Rules (Thin Capitalisation Rules)
S.140C has been added to Income Tax Act 1967 to restrict interest deduction where an entity is excessively debt funded by a related...
- Mar 8, 2019
- 2 min
Tax Exemption for Rental Income from Residential Property (YA 2018)
It was proposed in Budget 2018, which was tabled in parliament on 27 October 2017: i. 50% tax exemption will be granted on rental income...
- Nov 21, 2018
- 8 min
Benefits in Kind (BIK)
Generally, non-cash benefits (e.g. accommodation or motorcars) provided by employers to their employees are treated as income of the...