Guides to Managing Malaysian Employment Act
Disclaimer: The information in this article should not be construed as legal advice, and we assume no responsibility or liability for any decisions made or actions taken from this article should not be construed as legal advice, and we assume no responsibility or liability for decisions made or actions taken as a result of reading this article. This guide […]
Invitation by IRBM for Public Consultation on Draft Public Rulings
The primary objective of this public consultation is to collect feedback from various stakeholders regarding the issues associated with these PRs. Please be aware that, as stated by IRBM, any and all thoughts and comments that are submitted will be taken into consideration as well as may be made public. This public consultation on the […]
Effective 1 Sep, Amendments to the Employment Act 1955 will take effect
A series of explanations of the Amendments to the Employment Act 1955 was previously posted:- https://www.ccs-co.com/publications/categories/employment-amendment-bill-2021 I had also mentioned that in addition to the enactment of the statutory effective date, we were also waiting for the revisions to the First Schedule of the Employment Act of 1955 to be gazetted. They were both gazetted […]
Guidelines on Prescribed Labuan Business Activities for Non-Licensed Trading Entities in the LIBFC
The Labuan business activity comprises trading and non-trading trading activities. Section 2B of the Labuan Business Activity Tax Act 1990 (LBATA) provides that a Labuan entity carrying on a Labuan business activity must comply with specific substance requirements to benefit from the 3% preferential tax rate:- The Labuan Business Activity Tax (Requirements for Labuan Business […]
Updated Guidelines: Application for Tax Clearance Letter (TCL) for a Company, LLPs & Labuan Entity
Operational Guidelines No. 1/2022 dated May 24, 2022, in Bahasa Malaysia, titled “Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan,” were released on the IRB’s website in June 2022. DOWNLOAD This version of the Operational Guidelines replaces the previous version, Operational Guidelines No. 3/2021, which was issued on June 30, 2021. […]
Labuan Tax Developments
The following Amendment Acts have been gazetted on 9 June 2022 and are deemed to have come into operation on 1 January 2019: These three Amendment Acts 2022 contain amendments to the Labuan Companies Act 1990, Labuan Financial Services and Securities Act 2010 and Labuan Islamic Financial Services and Securities Act 2010. Labuan Companies (Amendment) […]
MOF Public Consultation Paper on The Implementation of Globe Rules in Malaysia
The Implementation Of Globe Rules In Malaysia The Ministry of Finance (MOF) is inviting the private sector, including businesses and tax experts, to provide feedback on the Budget 2023 Public Consultation Paper (PCP) titled “The Implementation Of Globe Rules In Malaysia”. The PCP is tied with Malaysia’s participation in the implementation of the Global Anti-Base […]
Postponement of Implementation of Service Tax on Goods Delivery Services
Budget 2022’s Proposal During the announcement of the 2022 budget, it was proposed that the scope of application of the Service Tax be expanded to include services related to the delivery of goods, regardless of the status of the service providers (whether licenced or not). However, the delivery of food and beverages and logistic services […]
Tax Corporate Governance Framework introduced
On April 11, 2022, in response to the growing expectation that organisations in Malaysia will implement governance practices that enhance the accountability, transparency, and integrity of the tax system, the Inland Revenue Board of Malaysia (IRBM) published: This Tax Corporate Governance Framework intends to provide an overview of the IRBM’s expectations on the Tax Corporate […]
Imposition of Tax on Low Value Goods Sales Tax (Amendment) Bill 2022
The Sales Tax (Amendment) Bill 2022 was passed with a majority voice vote by Dewan Rakyat (House of Representatives) on August 4, 2022. A sales tax would be imposed on low-value goods (LVG) sold by registered sellers or sellers liable to be registered through online platforms and delivered to Malaysia under the terms of the […]
