Guidelines on Types of Serious Illness for the Purposes of Para 46 (1) (g) of the ITA1967
Garis Panduan Berkenaan Dengan Jenis Penyakit Serius Bagi Maksud Perenggan 46(1)(g) Akta Cukai Pendapatan 1967 The IRB has on 4 May 2011 issued guidelines on serious diseases for the purpose of claiming relief under s 46(1)(g). A taxpayer may claim relief of not more than RM8,000 on medical expenses expended on himself/herself, his/her spouse and […]
18: An individual’s Tax Residence under S 7(1)(b) ITA 1967
An individual’s tax residence under S 7(1)(b) ITA 1967 – PDF 1. The test of residence under s 7 of the Income Tax Act 1967 (ITA) is purely a quantitative one, based on the number of days an individual is present in Malaysia during a year of assessment. 2. Under s 7(1)(b) ITA 1967, when […]
19: An individual’s Tax Residence under S 7(1)(b) ITA 1967 – Temporary Absences
An individual’s tax residence under S 7(1)(b) ITA 1967 – Temporary Absences – PDF 1. The test of residence under s 7 of the Income Tax Act 1967 (ITA) is purely a quantitative one, based on the number of days an individual is present in Malaysia during a year of assessment. 2. In applying s […]
Application Form for Revision of Corporate Income Tax Estimates Amendment For YA 2021 & 2022
1. Companies are required to pay tax in monthly instalments depending on estimated tax liabilities. Each month’s instalments must be paid on or by the 15th of the month. 2. A 10% penalty may be imposed for late or inadequate payments. If the actual tax payable exceeds the estimate by more than 30%, a 10% […]
15: International Income Tax Treatment of Pensions
International Income Tax Treatment of Pensions – PDF 1. With effect from 1 January 2022, Malaysian tax residents will no longer be exempt from taxation on income received in Malaysia that originates from abroad (Foreign Source Income), which raises a number of issues, including pensions from abroad (e.g. Singapore). 2. Therefore, if you work in […]
16: Defining Residence
Defining Residence – PDF 1. With effect from 1 January 2022, Malaysian tax residents will no longer be exempt from taxation on income received in Malaysia that originates from abroad (Foreign Source Income), which raises a number of issues, including pensions from abroad (e.g. Singapore). 2. You’ll realise that we’re talking about Malaysian tax residents […]
17: An individual’s Tax Residence under s 7(1)(a) ITA 1967
An individual’s tax residence under s 7(1)(a) ITA 1967 – PDF 1. Tax residents are often given preferential treatment over non-residents, therefore determining an individual’s residence for tax purposes is critical. 2. Tax residents, for example, are entitled to personal tax rebates and reliefs, which do not apply to non-residents, and they pay graduated tax […]
Labour Disputes Peninsular Statistics 2018
Labour Disputes Peninsular Statistics 2018 – PDF 7
14: The International Double Taxation – Economic
The International Double Taxation – Economic – PDF 1. Yesterday, George Tan enquired, “How will future dividends received from Singapore be taxed?” 2. To be honest, this is an interesting question that cannot be answered succinctly in a few lines. 3. The taxation of dividends has its origins in the classical tax system, which in […]
10: Special Income Remittance Programme to Malaysian Residents
1. In a statement issued on November 16, 2021, IRB said this Special Income Remittance Programme to Malaysian Residents (“PKPP” was in line with Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz’s announcement in the Budget 2022 that the tax exemption for foreign sources of income will be removed. 2. According to the programme, […]
