Effective 1 Sep, Amendments to the Employment Act 1955 will take effect
A series of explanations of the Amendments to the Employment Act 1955 was previously posted:- https://www.ccs-co.com/publications/categories/employment-amendment-bill-2021 I had also mentioned that in addition to the enactment of the statutory effective date, we were also waiting for the revisions to the First Schedule of the Employment Act of 1955 to be gazetted. They were both gazetted […]
Invitation by IRBM for Public Consultation on Draft Public Rulings
The primary objective of this public consultation is to collect feedback from various stakeholders regarding the issues associated with these PRs. Please be aware that, as stated by IRBM, any and all thoughts and comments that are submitted will be taken into consideration as well as may be made public. This public consultation on the […]
MOF Public Consultation Paper on The Implementation of Globe Rules in Malaysia
The Implementation Of Globe Rules In Malaysia The Ministry of Finance (MOF) is inviting the private sector, including businesses and tax experts, to provide feedback on the Budget 2023 Public Consultation Paper (PCP) titled “The Implementation Of Globe Rules In Malaysia”. The PCP is tied with Malaysia’s participation in the implementation of the Global Anti-Base […]
Guidelines on Prescribed Labuan Business Activities for Non-Licensed Trading Entities in the LIBFC
The Labuan business activity comprises trading and non-trading trading activities. Section 2B of the Labuan Business Activity Tax Act 1990 (LBATA) provides that a Labuan entity carrying on a Labuan business activity must comply with specific substance requirements to benefit from the 3% preferential tax rate:- The Labuan Business Activity Tax (Requirements for Labuan Business […]
Labuan Tax Developments
The following Amendment Acts have been gazetted on 9 June 2022 and are deemed to have come into operation on 1 January 2019: These three Amendment Acts 2022 contain amendments to the Labuan Companies Act 1990, Labuan Financial Services and Securities Act 2010 and Labuan Islamic Financial Services and Securities Act 2010. Labuan Companies (Amendment) […]
Updated Guidelines: Application for Tax Clearance Letter (TCL) for a Company, LLPs & Labuan Entity
Operational Guidelines No. 1/2022 dated May 24, 2022, in Bahasa Malaysia, titled “Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan,” were released on the IRB’s website in June 2022. DOWNLOAD This version of the Operational Guidelines replaces the previous version, Operational Guidelines No. 3/2021, which was issued on June 30, 2021. […]
