Tax Treatment of Interest/Profit Expense Payable to Banks or FIs during the Moratorium Period
This Technical Guideline aims to explain the tax treatment on interest/profit expenses payable to banks or financial institutions during the moratorium period. A moratorium is a temporary suspension of loan/financing repayments (principal and interest/profit) without late payment charges, introduced under the PRIHATIN economic stimulus package to help borrowers facing financial difficulties due to the Covid-19 […]
Guideline for Shipbuilding and Ship Repairing (SBSR) Incentive
In 2016, Malaysia introduced an incentive for the Shipbuilding and Ship Repairing (SBSR) industry with the aim of encouraging industry players to build their capabilities and capacities to meet the ever-challenging and competitive global landscapes. The incentive was set to expire, but it has been extended until 31 December 2022 to drive investments in the […]
What are the Tax Consequences for Malaysians living abroad and renting out properties in Malaysia?
Rental income earned in Malaysia is subject to tax under the Malaysian Income Tax Act 1967. The tax rate applicable to rental income depends on the tax residency status of the individual earning the rental income. Tax residents are eligible for tax relief. non-tax residents, on the other hand, do not qualify for tax relief. […]
Extension of Tax Incentives to support the Development of Electric Vehicle Industry
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position In Budget 2022, to support the development of the Electric Vehicle (EV) industry and encourage domestic demand in line […]
Automation Capital Allowance for Automation Equipment in Manufacturing, Services & Agriculture
Updated on 15 July 2023- Dialogue between MOF, LHDNM, and CTIM [21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position Automation Capital Allowance (ACA) is a tax […]
Extension of Individual Income Tax Relief for Child Care Centre or Kindergarten Fees
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position To alleviate the burden of working parents, effective from the YA 2017, a new paragraph 46(1)(r) of the ITA […]
Extension of Tax Incentive for the Shipbuilding and Ship Repairing Industry
Updated on 15 July 2023- Dialogue between MOF，LHDNM， and CTIM [21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Background to the Shipbuilding and Ship Repairing Industry Malaysia’s strategic […]
Review of Income Tax Rate for Micro, Small and Medium Enterprises
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position A Company or Limited Liability Partnership (LLP) that has a paid-up capital of RM2.5 million and below with an […]
Extension of Tax Incentives for the Aerospace Industry
Updated on 15 July 2023- Dialogue between MOF, LHDNM, and CTIM [21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Background to the Aerospace Industry Strategically located at the […]
Import Duties and Sales Tax Exemption on Studio and Filming Production Equipment
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position Dasar Industri Kreatif Negara has been introduced to empower the creative industries holistically based on creativity and innovation by […]
