Identifying the Right Branch for the Taxpayer
On September 27, 2022, the DESIRE Dialogue No.1/2022 was hosted by the Inland Revenue Board of Malaysia (IRBM) in collaboration with the Chartered Tax Institute of Malaysia (CTIM) and other professional organisations to explore concerns about compliance and operations. Currently, by typing the SSM incorporation number of a company, the tax agent will be able […]
English version of the FAQ on Implementation of e-TT System for TT, EFT and IBG Payment Methods
With effect from 1 April 2022, an e-Telegraphic Transfer (eTT) system has been implemented for the payment of: through Telegraphic Transfer (TT), Electronic Funds Transfer (EFT), and Interbank GIRO Transfer (IBG) methods from within and outside Malaysia. There are a total of 18 questions that are presented in the form of frequently asked questions (in […]
IRBM’s Response to CTIM on e-C 2022 (3)
Regarding Form e-C 2022, CTIM has offered feedback and comments to the Inland Revenue Board of Malaysia (IRBM). The Inland Revenue Board of Malaysia issued its response on 29 July 2022 and 2 August 2022, respectively. Despite this, on 11 August 2022, CTIM provided IRBM with additional feedback and comments on the form e-C 2022 […]
Excise Duty Exemption on Tourism Vehicles
Update: The Ismail Sabri Government Budget is no longer applicable.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 This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) […]
Extension of Sales Tax Exemption for the Purchase of Locally Assembled Bus
Update: The Ismail Sabri Government Budget is no longer applicable.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. This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) […]
Malaysian Ship Business – Income Tax (Exemption) (No. 7) Order 2022
Subsection 54A(1) of the ITA 1967 Under Section 54A(1) of the ITA 1967, where a person who is resident in Malaysia for the basis year for a year of assessment carries on the qualifying business of – the statutory income for that year of assessment from that business shall be exempt from tax. Footnotes Business […]
Extension of Tax Incentive for Global Trading Centre
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 This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) […]
Extension of Import Duty and Excise Duty Exemption on Imported CBU Electric Vehicles
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 Imported Completely Built-Up (CBU) Electric Vehicles (EV) consisting of passenger vehicles (including SUV and MPV), motorcycles and commercial vehicles […]
Review of Tax Incentive for Equity Crowdfunding
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023; for more info, please visit – https://www.ccs-co.com/post/budget-2023-malaysia-madani. This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) on 24 February 2023. Response from […]
Extension of Tax Incentive for Angel Investor
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023; for more info, please visit – https://www.ccs-co.com/post/budget-2023-malaysia-madani. This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) on 24 February 2023. Response from […]
