Public Ruling No. 6/2022 – Accelerated Capital Allowance (“ACA”)
The ACA is an allowable allowance for a person who has incurred qualifying expenditure (QE) on assets used for business purposes. The ACA rate provided in the Income Tax Rules (ITR) is under the powers conferred by paragraphs 154(1)(b) and paragraphs 10 and 15 of Schedule 3 of the ITA. The conditions that a person […]
Income Tax (Relocation of Provision of Services Business Incentive Scheme) Rules 2022
We want to inform you that the Minister has exercised the powers conferred by paragraph 154(1)(b), read together with subsection 6(1A) of, and paragraph 2 of Part XVII of Schedule 1 to, the Income Tax Act 1967 [Act 53] and issued the Income Tax (Relocation of Provision of Services Business Incentive Scheme) Rules 2022 [P.U. […]
Sales Tax (Persons Exempted from Payment of Tax) (Amendment) Order 2022 [P.U.(A) 380/2022]
According to Section 35(1)(b) of the Sales Tax Act 2018, the Minister has the authority to issue an order, subject to certain conditions, that exempts any individual or group from paying all or a portion of the sales tax imposed on any taxable goods that are produced or brought into the country. This order will […]
Application For Sales Tax Exemption Certificate Under Item 65, Schedule A of the Exemption Order
The announcement from the Royal Malaysian Customs Department (RMCD) on 20 December 2022 pertains to the Application for Sales Tax Exemption Certificate under Item 65, Schedule A of the Sales Tax (Persons Exempted From Payment Of Tax) Order 2018. On 20 December 2022, the Royal Malaysian Customs Department (RMCD) released an announcement regarding the Application […]
Public Ruling No. 5/2022 – Taxation of a Resident Individual Part II – Computation of Total Income
The Public Ruling (PR) No. 5/2022 – Taxation of a Resident Individual Part II – Computation of Total Income and Chargeable Income dated 9 December 2022 has been made available on the website of the Inland Revenue Board of Malaysia (HASiL). This third edition replaces PR No. 5/2018, dated 13 September 2018. Pages 40 and […]
