Updated Guidelines for submission of Estimated Tax Payable (CP 204)
1) The Inland Revenue Board (IRB) has released Operational Guidelines No. 1/2021 (GPO 1-2021) on its website, dated December 22, 2020. 2) The guidelines are captioned “Pengemukaan Anggaran Cukai Yang Kena Dibayar Di Bawah Seksyen 107C Akta Cukai Pendapatan 1967 (ACP)” and are prepared in Bahasa Malaysia. 3) The new 45 pages Guidelines supersede the […]
SME Status Certificate issued by SME Corp. Malaysia: Special Tax Deduction
1. On September 8, 2021, the Malaysian government gazetted the following rules: 👉 Income Tax (Special Deduction for Rental Reduction to a Small and Medium Enterprise) Rules 2021 [P.U.(A) 353/2021]; and 👉 Income Tax (Special Deduction for Reduction of Rental to a Tenant Other Than a Small and Medium Enterprise) Rules 2021 [P.U.(A) 354/2021] 2. […]
Income Tax Treatment of Wage Subsidy Programmes
1. We would like to remind taxpayers who receive the grant and/or subsidy: 👉 to pay attention to how the grant and/or subsidy are treated 👉 since the Subsidy Wages that employers get under the Wage Subsidy Programs are a kind of government assistance. 2. Taxpayers are exempt from tax under the Income Tax (Exemption) […]
Income Tax Treatment of Interest expense incurred during the Moratorium Period
Income Tax Treatment of Interest expense incurred by SMEs and individuals during the Moratorium Period – PDF 1. According to S.33(4) of the ITA 1967: “For the purposes of paragraph (1)(a) and subsection (2), where any sum payable for a basis period for a year of assessment is not due to be paid in that […]
Accelerated Capital Allowance (ACA) for the purchase of Machinery and Equipment
Accelerated capital allowance (ACA) for the purchase of Machinery and Equipment – PDF 1. It was proposed in the 2020 Economic Stimulus Package, announced on February 27, 2020, that accelerated capital allowance (ACA), comprised of a 20% initial allowance and a 40% annual allowance, be given on qualifying capital expenditure on machinery and equipment (including […]
Audit Framework For Employer: Effective from October 1, 2021
1. The Audit Framework for Employer was released by Lembaga Hasil Dalam Negeri (LHDNM) on October 1, 2021, and went into effect on October 1, 2021. 2. This Framework lays forth the rights and duties of audit officers, employers, and tax agents, with the goal of ensuring that employer audits are carried out fairly, openly, […]
Tax Clearance Letter: Closing the Income Tax File – Limited Liability Partnerships (LLP)
1) The Inland Revenue Board (IRB) has published Operational Guidelines No. 3/2021, titled “Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan” on its website in Bahasa Malaysia. 2) The Guidelines, which were issued on June 30, 2021, supersede GPHDN 2/2019, which was published on November 12, 2019. 🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼 1) 内陆税收局（IRB）在其网站上发布了马来文版本的第3/2021号操作指南，题为 “Permohonan […]
Income Tax (Deduction for Training Costs Under National Dual Training System) Rules 2021
1. NDTS is the acronym for the National Dual Training System. ‘Dual’ means training in two learning situations, namely: 👉 The actual workplace (company) that covers 70% to 80% practical training (performance) and; 👉 Training Centre which covers 20% to 30% of theory (knowledge). 2. IN exercise of the powers conferred by paragraph 154(1)(b) read […]
Tax Clearance Letter: Closing the Income Tax File – Companies under CA 2016
LHDNM Operational Guidelines No.3-2021 – Tax Clearance Letter Application 1) The Inland Revenue Board (IRB) has published Operational Guidelines No. 3/2021, titled “Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan” on its website in Bahasa Malaysia. 2) The Guidelines, which were issued on June 30, 2021, supersede GPHDN 2/2019, which was […]
Dispute Resolution Proceeding (DRP)
The Dispute Resolution Proceeding, or DRP, is an initiative of the IRBM that was implemented on July 1, 2013: 🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼 争议解决程序，或称 DRP，是税收局于2013年7月1日实施的一项举措，以让纳税人可以在不必经过所得税特别专员 [SCIT, the Special Commissioners of Income Tax] 的情况下，解决上诉或减免申请。 6
