HASiL – Capital Gains Tax Return Form (CGTRF) Filing Programme
Starting from 1 March 2024, various entities such as companies, limited liability partnerships, trust bodies, co-operative societies, and Labuan entities (Labuan Company, Labuan Limited Liability Partnership, Labuan Foundation and Trust) that elect or subject to taxation under the ITA 1967 are liable to pay capital gains tax on the disposal of specific capital assets. Taxpayers […]
HASIL – Return Form (“RF”) filing Programme for the year 2024
RBM has made the Program Memfail Borang Nyata (BN) for 2024 available for taxpayers to access and download on their official portal. Starting 1 January 2024, they will implement mandatory e-services for tax services, including e-filing for specific taxpayer categories. The implementation of mandatory e-services, including e-filing, for tax services in Malaysia will have several […]
Operational Guidelines on MTD under Income Tax Rules (Deduction from Remuneration) 1994
The Inland Revenue Board of Malaysia (“HASiL”) has uploaded the Operational Guidelines on MTD under Income Tax Rules (Deduction from Remuneration) 1994 [P.U.(A) 507/1994] (“GPHDN 1/2024”) (in Bahasa Malaysia) dated 2 January 2024 on its website. The guideline referred to in the provided citations is a set of operational instructions issued by the Lembaga Hasil Dalam Negeri […]
Income Tax (Deduction for Investment in a BioNexus Status Company) (Amendment) Rules 2024
The Income Tax (Deduction for Investment in a BioNexus Status Company) (Amendment) Rules 2024 [P.U. (A) 23/2023] are deemed to have come into operation on 1 January 2023. The changes made to the specific provisions in the amendment rules involve updating the commencement and termination dates for the deduction for investment in a BioNexus status […]
Excise Duties (Amendment) (No. 3) Order 2023
The Excise Duties (Amendment) (No. 3) Order 2023 outlines a series of amendments to the excise duty rates as stipulated in the Excise Duties Order 2022 [P.U. (A) 163/2022]. Specifically, the amendments modify the rates for certain goods under Chapters 20, 22, and 24, reflecting a shift in the fiscal policy related to these items. […]
Tourism Tax (Amendment)(No. 2) Regulations 2023
The Tourism Tax (Amendment) (No. 2) Regulations 2023 [P.U. (A) 408/2023], which were gazetted on 29 December 2023, introduce several modifications to the Tourism Tax Regulations 2017 [P.U. (A) 228/2017]. The main amendments include the following changes: These amendments are set to come into operation on 1 January 2024 References: Tourism Tax (Amendment)(No. 2) Regulations […]
Tourism Tax (Digital Platform Service Provider) (Amendment) (No. 2) Regulations 2023
The Federal Government Gazette has announced an amendment to the Tourism Tax (Digital Platform Service Provider) Regulations 2023, which will be implemented starting 1 January 2024. The amendment involves modifications to the Tourism Tax (Digital Platform Service Provider) Regulations 2021 concerning digital platform service providers and the removal of specific regulations and schedules. The key […]
Sales Tax (Customs Ruling)(Amendment) Regulations 2023
Sales Tax (Customs Ruling) (Amendment) Regulations 2023 [P.U. (A) 406/2023] were gazetted on 29 December 2023, amending the Sales Tax (Customs Ruling) Regulations 2018 [P.U. (A) 204/2018]. These Regulations come into operation on 1 January 2024. The key changes introduced by the Sales Tax (Customs Ruling) (Amendment) Regulations 2023 are as follows: References: Sales Tax […]
Sales Tax (Low-Value Goods)(Amendment) Regulations 2023
Sales Tax (Low-Value Goods) (Amendment) Regulations 2023 [P.U. (A) 405/2023], were gazetted on 29 December 2023, and they introduced changes to the Sales Tax (Low Value Goods) Regulations 2022 [P.U. (A) 408/2022]. These changes pertain to issuing credit notes and debit notes for low-value goods, as well as submitting returns for each taxable period. A […]
Sales Tax (Rate of Tax for Low-Value Goods) Order 2023
The Sales Tax (Rate of Tax for Low-Value Goods) Order 2023 establishes a 10% sales tax rate for low-value goods, replacing the previous order from 2022. This order, made by the Second Minister of Finance, will be effective from 1 January 2024 and is in compliance with the Sales Tax Act 2018. The Development of […]
