Service Tax (Imposition of Tax for Taxable Service in respect of Designated Areas and Special Areas) (Amendment) Order 2024
The Service Tax (Imposition of Tax for Taxable Service in respect of Designated Areas and Special Areas) (Amendment) Order 2024: In summary, the Order expands the scope of taxable logistic services that are subject to service tax when provided within or between designated and special areas in Malaysia. References: Service Tax (Imposition of Tax for […]
Service Tax (Rate of Tax) (Amendment) Order 2024
The Service Tax (Rate of Tax) (Amendment) Order 2024, a significant legislative update, has been officially gazetted on 26 February 2024 and revises the standard service tax rate while retaining lower rates for certain services. Key Points Transitional Rules The rules cater for the transition and avoid a sudden change in service tax rate on […]
Customs Duties (Exemption)(Amendment) Order 2024
The Customs Duties (Exemption) (Amendment) Order 2024 [P.U (A) 63/2024], gazetted on 26 February 2024, introduces amendments to the Customs Duties (Exemption) Order 2017. This amendment order specifically adds “Jadestone Energy (Malaysia) Pte. Ltd.” to the list of companies that qualify for customs duty exemption on approved materials and equipment imported for use in petroleum […]
Income Tax (Exemption) (No. 2) Order 2024
Following the re-tabling of Malaysia’s Budget 2023 on 24 February 2023, it was announced that the Government would explore the implementation of a capital gains tax (CGT) on the disposal of unlisted shares by companies at a reduced rate. Subsequently, the Budget 2024 announcement on 13 October 2023 provided further elaboration on this proposal, including […]
Service Tax (Amendment) Regulations 2024
The Service Tax (Amendment) Regulations 2024, gazetted on 23 February 2024, introduce amendments to the existing Service Tax Regulations 2018. Effective Date: The amendments came into operation on 26 February 2024. Some of the key amendments include: This gazette contains important changes to Malaysia’s service tax framework that those in relevant industries should know. For […]
Income Tax (Exemption) (No. 7) Order 2023
Following the re-tabling of Malaysia’s Budget 2023 on 24 February 2023, it was announced that the Government would explore the implementation of a capital gains tax (CGT) on the disposal of unlisted shares by companies at a reduced rate. Subsequently, the Budget 2024 announcement on 13 October 2023 provided further elaboration on this proposal, including […]
