TIN for all Categories of Taxpayers except the Individual and Employer Categories
The Inland Revenue Board of Malaysia has informed us (being CTIM members) that the Tax Identification Number (TIN) format for all categories of taxpayers except for individual and employer categories has been changed. This is in line with the implementation of the Tax Identification Number and changes to the internal system of the Inland Revenue […]
Windfall Profit Levy (Oil Palm Fruit) Order 2023 [P.U.(A) 31/2023]
Introduction: In accordance with section 6 of the Windfall Profit Levy Act 1998 [Act 592], the Minister has exercised power to make the Windfall Profit Levy (Oil Palm Fruit) Order 2023. The order comes into effect on 1st February 2023. The order prescribes the price of locally delivered crude palm oil per metric ton and […]
Double Taxation Relief (The Government of the Republic of Poland) order 2014
Please be informed that the Malaysia-Poland Double Taxation Avoidance Agreement (DTAA) signed on 8 July 2013 (DTAA 2013): References: 1. HASiL announcement on dates of entry into force of Articles in Double Taxation Relief (Poland) 2. Double Taxation Relief (The Government of the Republic of Poland) Order 2014 8
Amendment to Customs Duties for ASEAN-Japan Economic Partnership Agreement Goods Order 2023
The Minister, under the powers conferred by subsection 11(1) of the Customs Act 1967 [Act 235], makes the Customs Duties (Goods under the Agreement on Comprehensive Economic Partnership among the Government of the Member States of the ASEAN and Japan) (Amendment) Order 2023. This Order will come into effect on 1 March 2023. The purpose […]
Deferment of imposition of sales tax on low-value goods (LVG)
Sales Tax applies to all taxable goods produced domestically or imported from other countries into Malaysia. Nevertheless, Low-Value Goods (LVG) imported by air couriers from overseas are exempt from Sales Tax under the de minimis facility, which permits a waiver of small tax amounts for efficiency reasons. The Ministry of Finance announced in Budget 2022 […]
Payments via Cheques or Bank Drafts to “Ketua Pengarah Kastam” through the RMCD Counters
The Royal Malaysian Customs Department (RMCD) has issued an important announcement regarding payments made via cheques or bank drafts through RMCD counters. Effective immediately, the name “Ketua Pengarah Negeri” has been changed to “Ketua Pengarah Kastam” for such payments. However, a transitional period has been provided until 30 June 2023, where companies and agents may […]
IRBM’s Responses to CTIM’s feedback/comments on Transfer Pricing related issues
The Inland Revenue Board of Malaysia (HASiL) has issued responses to CTIM’s feedback/comments on Transfer Pricing related issues as follows:- IRBM’s Responses to CTIM’s Feedback/Comments on Form C, Year of Assessment 2022 – Transfer Pricing related disclosures dated 17 October 2022 F8 – Part A- Items 2, 3 and 4 of Form C The characterisation […]
Tourism Tax (Amendment) Regulations 2023
The Minister, in accordance with section 70 of the Tourism Tax Act 2017, has made the Tourism Tax (Amendment) Regulations 2023. These Regulations have been enforced since 2 March 2023. This post outlines the amendments to the Tourism Tax Regulations 2017 [P.U. (A) 228/2017]:- Addition of Part IIA – Invoice or Receipt: Operators who issue […]
Malaysian Income Tax Reporting System (MITRS): Scope Expanded
Letter from IRBM dated 28 September 2020 The Inland Revenue Board of Malaysia (IRBM) has introduced an online platform for electronically submitting tax returns called the Malaysian Income Tax Reporting System (MITRS), as stated in a letter dated 28 September 2020 to professional bodies. The MITRS platform is developed based on the XBRL (eXtensible Business […]
Updated Guideline on Real Property Gains Tax
The Inland Revenue Board of Malaysia has released a new Real Property Gains Tax (RPGT) guideline on its website. Dated 6 January 2023, the guideline is written in Bahasa Malaysia. It clarifies the scope of imposition, calculation of RPGT, exemptions, and the responsibilities of the disposer and acquirer in the disposal of chargeable assets in […]
