HASiL Code of Ethics for Tax Agents (Revised 1/2023)
Following the implementation of MS ISO 37001:2016 Anti-Bribery Management System (ABMS) certification at the Inland Revenue Board of Malaysia (LHDNM), LHDNM has updated the Tax Agent Ethics Code (PIN. 1/2023). It supersedes the previous Code of Ethics for Tax Agents (Revised 4/2012). These amendments aim to improve the process and reduce the risk of corrupt […]
Updates: Sales Tax on Imports of Low-Value Goods (“LVG”)
The Royal Malaysian Customs Department (RMCD), also known as Customs, has released Announcement LVG 1/2023 on 6 January 2023 to confirm that: Following the legislation related to Sales Tax on LVG: is responsible for being registered as a Registered Seller (RS). Applicants can start applying to be registered from 1 January 2023 via the MyLVG […]
Customs Duties for Trans-Pacific Partnership Goods Order 2022
On 30th December 2022, the Customs Duties (Goods under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership) Order 2022 (“CPTPP Order”) came into effect regarding customs duties on goods under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The order was deemed to have started on 29th November 2022. Annex 3-A, which covers Other Arrangements, […]
Customs Public Ruling No. 1/2022 – Prescribed Forms
Under Section 10F of the Customs Act 1967, Section 5F of the Excise Act 1976, and Section 6A of the Windfall Profit Levy Act 1998, the Director General of the Royal Malaysian Customs Department (RMCD) issued the Public Ruling No. 1/2022, “Prescribed Forms under Customs Act 1967, Excise Act 1976 and Windfall Profit Levy Act […]
Revised Sales Tax Policy No. 1/2022 – Sales Tax Exemption on Pallets
We want to remind you about our previous article on April 23, 2022, titled “Sales Tax Policy No. 1/2022 – Sales Tax Exemption on Pallets,” that the Royal Malaysian Customs Department (RMCD) has issued Sales Tax Policy 1/2022 on April 5, 2022. The purpose of this policy is to provide clarity regarding the sales tax […]
High Court clarifies Item 22(1) of the First Schedule of the Stamp Act and the Remission Order
This is a stamp duty appeal under s 39(1) of the Stamp Act 1949 (“the Act”) made by way of a Case Stated under s 39(2) of the Act. Plaintiff is seeking for inter alia a declaration that the Notice of Stamp Duty Assessment dated 13 February 2019 issued by Defendant (“the assessment”) is erroneous, […]
The 4th and 5th Guidebooks of the Public Listed Companies Transformation Programme by Bursa
On 5th December 2021, Bursa Malaysia Berhad released the 4th and 5th Guidebooks for its Public Listed Companies Transformation (PLCT) Programme. The PLCT Programme, which Bursa Malaysia officially launched on 2nd March 2022, is a voluntary initiative that enables all public listed companies (PLCs) in Malaysia to participate, regardless of their size, industry or shareholding. […]
Public Listed Companies Transformation (PLCT) Programme
The Public Listed Companies Transformation (PLCT) Programme was introduced to raise the performance levels of Corporate Malaysia. Bursa Malaysia is leading the initiative to enhance the “investability” of listed companies in Malaysia by improving the growth stories of public listed companies (PLCs) of all sizes. The Honourable Finance Minister announced the launch of this programme […]
