MOF – Media Release – Scope of Tax Exemption for Logistics Services Sector is Expanded to Reduce the Impact of Cascading Tax Effect
During the closing speech of the Royal Address in the Dewan Rakyat on 11 March 2024, YB Senator Datuk Seri Amir Hamzah, the Second Finance Minister, announced that the Ministry of Finance (MOF) will enhance the scope of service tax exemptions for the logistics sector to reduce the impact of double taxation. As announced in […]
PR No. 1/2024 – Investment Tax Allowance – Promoted Product Under The Manufacturing Sector dated 24 January 2024
This Public Ruling issued by the Inland Revenue Board of Malaysia (IRBM) provides guidance on the investment tax allowance available to companies participating in manufacturing promoted products in Malaysia. It covers the ITA for promoted products under the general list, high technology companies, small scale companies, selected industries, and for reinvestment. The ruling explains the […]
Guidelines on Exemption From Registration under the Sales Tax Act 2018 dated 5 February2024 (in Bahasa Malaysia)
This guideline, published by the Royal Malaysian Customs Department on 5 February 2024, provides guidance on exemptions from registration under the Sales Tax Act 2018. It aims to assist industries in identifying manufacturing operations that are exempt from registration as provided under subsection 20(1) of the Sales Tax Act 2018. Most important content: 1. Subsection […]
Income Tax (Exemption) (No. 3) Order 2024
The Income Tax (Exemption) (No. 3) Order 2024, which takes effect from 1 January 2024 to 31 December 2026, provides tax exemptions for certain entities in Malaysia on gains or profits received from the disposal of foreign-sourced capital assets. Key points from the order: 1. Companies, limited liability partnerships, trust bodies, and co-operative societies resident […]
Income Tax (Exemption) (No. 10) 2018 (Amendment) Order 2024
The Income Tax (Exemption) (No. 10) 2018 (Amendment) Order 2024 [P.U. (A) 84/2024] amends the Income Tax (Exemption) (No. 10) Order 2018, which provides tax exemptions for qualifying companies with Multimedia Super Corridor (MSC) status in Malaysia. The amendments are deemed to have come into effect on 1 January 2019, except for certain subparagraphs that […]
Customs (Prohibition of Exports) (Amendment) Order 2024
The Customs (Prohibition of Exports) (Amendment) Order 2024, which comes into effect on 1 May 2024, amends the Customs (Prohibition of Exports) Order 2023 about the export of certain goods from Malaysia. Key points from the amended order: 1. The Ministry of Investment, Trade and Industry (MITI) replaces the Ministry of International Trade and Industry […]
Customs Duties (Exemption) (Amendment) (No. 2) Order 2024
The Customs Duties (Exemption) (Amendment) (No. 2) Order 2024, which is deemed to have come into effect on 1 January 2024, amends the Customs Duties (Exemption) Order 2017 by inserting a new item 121 in Part I of the Schedule. This new item provides customs duty exemptions for certain manufacturers on the import or purchase […]
Guideline on Labelling Requirement under the Food Act 1983 and Food Regulations 1985
These guidelines provide comprehensive guidelines on nutrition information, food labeling requirements, nutrient content claims, compliance criteria, and regulations related to food products in Malaysia. It emphasizes the importance of accurate labeling to provide clear information to consumers and ensure compliance with regulations. The guidelines cover a wide range of topics such as nutrient function claims, […]
Activities Allowed in Bonded Warehouse
a. Warehousing Storing goods approved by the Zone Superintendent / State Customs Director. b. Break Bulk Goods stored can be broken down and released gradually (partial release). c. Repacking d. Relabelling This activity involves relabelling imported goods, such as indicating the name of the importer or distributor before the goods are released for the local […]
Bonded Warehouse in Malaysia
In Malaysia, a bonded warehouse is a designated space authorized by the Royal Malaysian Customs (RMC) under Section 65 of the Malaysian Customs Act 1967. These warehouses serve as secure storage facilities for dutiable goods until they are removed from the warehouse. Here are the key points about bonded warehouses: A) Definition: ✅ A bonded […]
