Implementation of e-TT system for TT / EFT and Interbank GIRO (IBG) Payment Methods
IRBM released a Media Release on implementing an e-TT system for Telegraphic Transfer (TT) / Electronic Fund Transfer (EFT) and Interbank GIRO (IBG) payment methods on March 3, 2022. The Media Release can be found here:- Beginning on April 1, 2022, this new system will be in place and be known as the e-TT system. […]
Guidelines on the application procedure for a Special Deduction in respect of a Qualifying R&D
Guidelines on the application procedure for a special deduction in respect of a Qualifying R&D On August 13, 2020, the guidelines on the application procedure for a special deduction in respect of a qualifying research and development (R&D) were issued by the Inland Revenue Board of Malaysia (“IRBM”). These guidelines explain the application process for an […]
Tax Treatment on the Income of Doctors in Private Hospitals
I am sure many of you will still remember the widespread allegation that doctors (from now on referred to as the doctor) who provide medical services (e.g., treatment, consultancy, surgical, etc.) in Private Hospitals were evading taxes many years ago, and LHDN conducted audits as a result. It is not only permissible but common to […]
