Section 46 paragraph (ha): Both Spouses can claim the Tax Relief of RM4,000
In accordance with the latest amendment to Section 46 of the Income Tax Act 1967, an additional paragraph (ha) has been included. This paragraph enables parents of children 18 years old or below diagnosed with specific symptoms of learning disabilities to seek tax relief for medical expenses. These expenses must be incurred in relation to […]
Form e-107D for 2% WHT for commission payments to Agents, Dealers or Distributors under s107D
On its website, the Inland Revenue Board of Malaysia (HASiL) released a media statement on 27 June 2023 in Bahasa Malaysia, announcing the introduction of Form e-107D. This form allows for the online submission of the required documentation for the 2% tax deduction on commission payments made by a company to agents, distributors, or dealers […]
Whether Digital Currencies are to be treated as a Mode of Payment or an Intangible Property
Accountants often face challenges in their professional practice that lack specific accounting standards, such as in the case of cryptocurrencies. Similarly, tax agents in Malaysia have limited resources when referencing the Guidelines on the Tax Treatment of Digital Currency Transactions, which appears to be the solely available guidance presently. As a result, the Chartered Tax […]
HASiL: e-form for YA 2012 – 2015 will no longer be available for use from 1 July 2023 onwards
The Inland Revenue Board of Malaysia (HASiL) has announced that starting from 1st July 2023, the e-Form for the years of assessment (YA) 2012 to 2015 will no longer be accessible. As a result, taxpayers who need to submit return forms for these particular YAs must use the manual form available for download at www.hasil.gov.my. […]
Guidelines for Application of Tax Deduction on Contributions / Sponsorships of Smart AI-Driven RVM
Today, we have an important update from the Ministry of Finance (MOF) that aims to promote sustainable practices through the use of Smart Artificial Intelligence (AI)-Driven Reverse Vending Machines (RVMs). So, let’s get right into it! The MOF has recently issued guidelines for applying tax deductions on contributions or sponsorships for Smart AI-Driven RVMs. These […]
Cessation of accepting Cheques and Money Orders/Postal Orders as instruments of payment to HASiL
Today we have an important update regarding tax payments in Malaysia. Media Release On June 12, 2023, HASiL issued a media release informing taxpayers about a significant change in how direct tax payments are accepted. Let’s dive into the details. The Inland Revenue Board of Malaysia (HASiL) announced the discontinuation of cheques and Money Order/Postal […]
HASiL’s Response to CTIM’s Letter On TAeF Portal For SVDP 2.0
The Inland Revenue Board of Malaysia (HASiL) has given a response to the letter that CTIM sent them on June 16th, 2023. The letter addressed the issues that were brought up on the TAeF Portal for the Special Voluntary Disclosure Programme (SVDP) 2.0. 1. TAeF portal has no option for SVDP 2.0 in view of […]
Persons with Disabilities Act 2008
The Persons with Disabilities Act 2008 (Act 685) in Malaysia is a legislation that focuses on the rights and well-being of persons with disabilities. What is a Disability? Disability refers to a condition or impairment, whether physical, mental, cognitive, or developmental, that hinders, interferes with, or limits a person’s ability to engage in specific tasks […]
Deduction for Expenditure Incurred for Provision of Approved Internship Programme) (Amendment) Rules
The Ministry of Finance, exercising the powers conferred by paragraphs 154(1)(b) and 33(1)(d) of the Income Tax Act 1967 [Act 53], hereby announces the amendment of the Income Tax (Deduction for Expenditure Incurred for Provision of Approved Internship Programme) Rules 2019 (which are referred to as the “principal Rules”). These amended rules shall be known […]
Invitation for Public Consultation on Draft Public Ruling – Taxation of Upstream Petroleum (Part 1)
The Inland Revenue Board of Malaysia (HASiL) would like to inform the public about the release of the draft Public Ruling (PR) on the Taxation of Upstream Petroleum (Part 1). This draft PR has been made available for public comments and feedback before its finalisation. The objective of this Public Ruling (PR) is to provide […]
