MOF’s Responses concerning the Application for Renewal of s.153 Tax Agent Licence
Refer to “Panduan bagi permohonan Kelulusan Ejen Cukai” (Guideline for Application for Approval as a Tax Agent) issued by the Ministry of Finance (MOF); applicants must meet the following requirements to renew their tax agent licence: Tax agents aged 60 and above are eligible for a 50% exemption from the CPD/CPE credit hour requirement for […]
Tax Treatment for Labuan Entities with Dormant Status
The Inland Revenue Board of Malaysia (IRBM) has published Guidelines on Tax Treatment for Labuan Entities with Dormant Status (“the Guidelines”) dated October 20, 2022, which will take effect in YA 2020. The Labuan Investment Committee Pronouncements 1-2019 and 2-2019 concerning the compliance with substantial activities requirements and audited accounts by dormant companies for the […]
Public Ruling No. 4/2022: Recovery From Persons Leaving Malaysia
Finance Act 2019 As a result of the Finance Act 2019, the scope of the stoppage order was expanded to include the increase of taxes in situations in which the company has failed to submit an estimate of the amount of tax that is payable under Section 107C(10A) of the Income Tax Act 1967. This […]
“Summer Vacation” is Not Synonymous with “Social Visits”
Ketua Pengarah Hasil Dalam Negeri v. Richard Allen Sonnet & Anor 455 High Court Malaya, Kuala Lumpur The respondents, Richard Allen Sonnet and Patricia Ann Sonnet, husband and wife, entered Malaysia on 1 August 1991. They were teachers contracted with the International School, Kuala Lumpur. Their stay in Malaysia during the relevant basis years are […]
Special Commissioners of Income Tax (SCIT)
The situations in which a taxpayer can appeal include: If taxpayers receive a notice of assessment and disagree with it, they allow appealing; there are two ways for taxpayers to dispute tax assessments by the IRB: The vision of Special Commissioners of Income Tax To be a credible, impartial and competent body in determining income […]
DGIR v. KTT [1997]: Legal Owner vs Beneficial Owner
Since the purpose of this article is to serve as an illustration, all real names and dates have been altered. High Court Malaya, Johor Bahru Abdul Malik Ishak J [Civil Appeal No: 12-18-1997] 25 September 1997 JUDGMENT Abdul Malik Ishak J: This appeal came up to me because of a case stated by the Special […]
Nov 18 and 19 – Special Public Holidays, Do you observe them?
Explanation No 1 In Malaysia, there are 3 pieces of Employment Legislation, i.e. The Employment Act, the Sabah Labour Ordinance, and the Sarawak Labour Ordinance each have their own rules and regulations. Section 60D(1) of the Malaysian Employment Act says that all employees are entitled to 11 gazetted public holidays, including, Special Public Holidays When […]
TP FAQs: Positioning of a Licenced Distributor | 特许经销商如何定位
The Licensed Distributor uses intangible assets he does not own but licenses them. A license is a formal permission or authority to do something that otherwise would be forbidden, for example, using a brand, patent-protected technology, software or a database. The Licensed Distributor decides on the quantity of purchased goods to sell it. So he […]
TP FAQs: Positioning of a High Technology Enterprise | 高新技术企业如何定位
Some high-tech companies perform research and development, manufacturing, and product marketing and sales functions in the domestic market; however, they are treated as contract manufacturers only and are given a lower return on a cost basis. Furthermore, when the Inland Revenue Board conducts a transfer pricing audit of those companies, they will question the positioning […]
Capital Allowance: Are Sanitary and Pipeline Fittings a Plant?
C.I.T. Andhra Pradesh (the appellant) v M/S Taj Mahal Hotel, Secunderabad 12 August 1971 The respondent, who is the assessee, is a registered company running a hotel in Secunderabad with branches at Sultan Bazar and King Kothi in Hyderabad. During the previous year ending 30th September 1959, relating to the assessment year 1960-61, the assessee […]
