Form C YA 2022: Are you a Permanent Establishment (PE) as defined under the TP Rules?
Derivation of income under s 12 of the Income Tax Act 1967 The circumstances under which business income would be considered to be derived from Malaysia and so taxed in Malaysia are outlined in Section 12 of the Income Tax Act 1967 (ITA). To complement Section 12, the Income Tax Act was updated with new […]
Form C YA 2022: Involved in Cost Contribution Agreement?
Recent changes to the Form C Recent changes were made to Form C by the Inland Revenue Board in preparation for the YA 2022. One of the most critical changes is for those businesses participating in transfer pricing arrangements. As a result, the disclosure items have been significantly expanded to cover new areas. These new areas include stating the characterisation […]
Form C YA 2022: Cash Pooling Arrangements and Transfer Pricing
Recent changes to the Form C Recent changes were made to Form C by the Inland Revenue Board in preparation for the YA 2022. One of the most critical changes is for those businesses participating in transfer pricing arrangements. As a result, the disclosure items have been significantly expanded to cover new areas. These new areas include stating the characterisation […]
Invitation by IRBM for Public Consultation on Draft Public Ruling and Draft Guidelines
The Inland Revenue Board of Malaysia (IRBM) has published the following draft Public Ruling (PR) and draft Guidelines on its website for public review, comments and feedback before finalising the PR and Guidelines: The primary objective of this public consultation is to elicit the opinions of various stakeholders regarding the issues that are associated with […]
Amendment: Customs Duties (Exemption) Order 2017
Customs Duties (Exemption) Order 2017 On September 23, 2022, in the exercise of the powers conferred by subsection 14(1) of the Customs Act 1967 [Act 235], the Minister gazetted: You are strongly encouraged to the Order to obtain all the relevant information. To download:- Reference Customs Duties (Exemption) Order 2017 [P.U.(A) 445/2017] Customs Duties (Exemption) […]
Excise Duties (Premix Preparation) (Payment) Order 2022
What is the Excise Duty? A tax imposed on certain goods imported into or manufactured in Malaysia. What Goods are subject to Excise Duty? Payment How to clear goods from Port Goods must be declared in customs import declaration Form No. 1, and the duty/tax assessed paid to the customs office where goods are released […]
Excise (Exemption From Licensing) (Amendment) Order 2022
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Excise Duties (Amendment) Order 2022 and Excise Duties (Exemption) (Amendment)(No. 2) Order 2022
On September 9, 2022, in the exercise of the powers conferred by: You are strongly encouraged to read both Orders to obtain all the relevant information. To download:- Reference Excise Act 1976 · Excise Duties Order 2022 [P.U.(A) 163/2022] · Excise Duties (Exemption) Order 2017 [P.U.(A) 444/2017] · Excise Duties (Exemption) (Amendment) (No. 2) Order […]
Service Tax Policy No. 2/2022: Service Tax Refund for Companies operating in the JDA
Malaysia-Thailand Joint Authority (MTJA) Malaysia–Thailand Joint Development Area is a 7,250 km square area in the Gulf of Thailand which was created as an interim measure to exploit the natural resources in the seabed or continental shelf claimed by the two countries and to share the proceeds equally. The arrangement does not extinguish the legal […]
Amendment: Service Tax Policies (STP) on Digital Services
The qualifying criterion found in paragraph 5(b) of STP No. 1/2022, dated August 1, 2022, has had the word “licenced” removed from it as a result of STP No. 1/2022 (Amendment No. 1) To Download: Service Tax Policy No. 1/2022 (Amendment No. 1) Service Tax Policy No. 1/2022 dated August 1, 2022 Our website’s articles, […]
