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Update: The Ismail Sabri Government Budget is no longer applicable.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 […]
Import Duty and Sales Tax Exemption on Nicotine Replacement Therapy
Update: The Ismail Sabri Government Budget is no longer applicable.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 Smoking cessation services at Government health clinics and hospitals have been implemented since 2000. Starting in 2015, this programme […]
Employment of Inmate and Ex-Inmate of Henry Gurney School and Institutions under the SWD
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 An employer is allowed a further deduction on remuneration paid to the following categories of employees: To qualify for […]
Review of Individual Resident Income Tax Rates
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 | 目前情况 The resident individual income tax rate is progressive between 0% and 30% on chargeable income. The income […]
Tax Deduction for Sponsorship of Smart Artificial Intelligence (AI)-Driven Reverse Vending Machine
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 December 2021, the Malaysia Plastic Sustainability Roadmap, 2021–2030 (hereinafter “the Roadmap”) was published in Malaysia. The Roadmap identifies […]
Review of Tax Incentives for Food Production Project
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 Certain food production projects, including the planting of vegetables, fruits, kenaf, herbs or spices; the rearing of cows, buffaloes, […]
Tax Incentive for Company Renting Non-Commercial Electric Vehicle
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 Companies renting non-commercial motor vehicles, including Electric […]
