12: The International Double Taxation – Legal
The International Double Taxation – Legal – PDF 1. Two basic concepts that are also essential reasons/causes of international juridical double taxation are at the heart of international taxation concerns. 👉 The terms “source” and “residence” are used to describe these two concepts. 👉 Both concepts are derived from laws in domestic tax legislation that […]
13: Methods used by Resident Countries to Cope with Double Taxation
1. Budget 2022 was tabled in Parliament on 29 October 2021, one of the amendments to the Income Tax Act 1967 is: 👉 Foreign-sourced income received in Malaysia will be taxed from January 1, 2022. 2. Then, everyone noticed a lot of relevant news or posts on social media 3. I’m also keeping track of […]
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, […]
7: Jurisdiction to Tax – Source Jurisdiction
Jurisdiction to Tax – Source Jurisdiction [税收管辖区 – 来源地管辖权] – PDF 1. Source jurisdiction for tax purposes means that a country (let’s assume it’s your country) taxes non-resident individuals and corporations on income generated within that country (i.e., from your country). 2. In principle, this tax regime is aimed at income derived by non-residents from […]
LHDN: Media Statement – Special Program For Revenue Saved Abroad
Special Program For Revenue Saved Abroad 9
Unabsorbed Losses extended to a Maximum Period of 10 consecutive Years of Assessment
Budget 2022 Highlights – Review of Tax Treatment on Unabsorbed Losses – PDF 1. The Budget 2022 was tabled in Parliament on 29 October 2021, It is proposed that: 👉 the current unabsorbed business losses that can be carried forward from the year of assessment 2019 onwards be extended from a maximum period of 7 […]
LHDN : Income Tax (Special Treatment for Bank or Development Financial Institution
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Cost of Detection Test of COVID-19 for Employees: Double Deduction
1. Under these Rules: 👉 Employer costs incurred between January 1, 2021, and December 31, 2021, will now be eligible for a further deduction. 👉 This means that a double deduction will be allowed for expenses incurred by an employer in a Covid-19 Detection Test carried out on its employee. The IRBM’s Response The Inland […]
Guidelines on Company Limited by Guarantee
1. The Companies Commission of Malaysia (‘CCM’) issued a set of new Guidelines on Company Limited by Guarantee on September 27, 2021, which went into effect on the same day. 2. A company limited by guarantee (CLBG) is defined under the CA 2016 as a public business formed with its members’ primary liability restricted by […]
