HASiL Is Seeking Public Consultation On Its Proposed Public Ruling On Investment Tax Allowance
The Inland Revenue Board of Malaysia (HASiL) published a draft Public Ruling (PR) on its website so that the public can comment on it before the PR is finalised. The main objective of this public consultation is to find out what people think about the issues that arise with this draft PR. Please be aware that, according […]
Newcomer Onboarding Training
Dear all CCS Newcomers, Welcome to CCS, a leading Audit Firm in Malaysia! We are delighted to have you join our CCS family and want to ensure a smooth transition into your new role. In line with this, we are excited to announce a two-day Newcomer Onboarding Training held on 24 & 25 May 2023. […]
13 Transfer Pricing Questions
1. What is Transfer Pricing? Transfer pricing is the area of taxation that deals with the pricing of transactions between enterprises under common ownership or control (associated enterprises). Transactions are for example the sale of goods, the provision of services, the use of intellectual property, or the provision of financial transactions. The price for such […]
Understanding the Latest Changes to Malaysian Property Stamp Duty: Implications for Family Transfers
The Malaysian government has announced changes to the country’s economic and tax policies in the Budget 2023. One of the proposals relates to stamp duty treatment for the transfer of property by way of love and affection between family members. Currently, stamp duty rates for property transfers are based on a tier system. However, there […]
Employees Cannot Have Their Cake & Eat It: Lessons from Matrix Global Education v Felix Lee Eng Boon
In the Matrix Global Education Sdn Bhd v Felix Lee Eng Boon case, the Court of Appeal held that when an employee agrees to terms of separation and tenders a resignation letter, a binding contract is formed, and the employee cannot subsequently claim constructive dismissal. The case centred around Felix Lee, who was removed from […]
Sales Tax (Rate of Tax) (Amendment) Order 2023
The Minister has made an order under subsection 10(2) of the Sales Tax Act 2018 [Act 806], i.e. Sales Tax (Rate of Tax) (Amendment) Order 2023. This order came into operation on 1 April 2023. The Sales Tax (Rate of Tax) Order 2022 [P.U. (A) 176/2022] is amended in subparagraph 2(1) by substituting for paragraph […]
Free Zones (Exclusion of Goods) (Amendment) Order 2023
In accordance with the authority granted under subsection 6(1) of the Free Zones Act 1990 [Act 438], the Minister has issued the Free Zones (Exclusion of Goods) (Amendment) Order 2023. This Order comes into effect on 1 April 2023 and amends the Free Zones (Exclusion of Goods) Order 1998 [P.U. (A) 459/1998] in the Schedule. […]
Foreign Currency Exchange Rate for Foreign-Source Income received in Malaysia
Effective 1 January 2022, the tax exemption for foreign-sourced income (“FSI”) received by Malaysian residents provided for under Para 28 was removed following the Budget 2022 made on 29 October 2021. The removal of the tax exemption for foreign-sourced income received by Malaysian residents implies that this type of income will be taxable in Malaysia, […]
Excise Duties (Labuan) (Amendment) Order 2023
Pursuant to the authority granted by paragraph 90A(1)(a), read together with paragraph 90B(b) of the Excise Act 1976 [Act 176], the Minister has issued the Excise Duties (Labuan) (Amendment) Order 2023. This Order, which comes into effect on 1 April 2023, amends sub-subparagraph 2(e) of the Excise Duties (Labuan) Order 2022 [P.U. (A) 183/2022] by […]
Customs Duties (Goods under the RCEP Agreement (Amendment) Order 2023
The Malaysian government has issued the Customs Duties (Goods under the Regional Comprehensive Economic Partnership Agreement) (Amendment) Order 2023, which comes into effect on March 15, 2023. This order amends the Customs Duties (Goods under the Regional Comprehensive Economic Partnership Agreement) Order 2022. The changes involve substituting references to the Customs Duties Order 2017 with […]
