The Finance Bill 2023: Proposed Amendments to Real Property Gains Tax Act in Malaysia
On 14 March 2023, the Dewan Rakyat of the Malaysian Parliament tabled the Finance Bill 2023 for its first reading. Amongst other things, the Bill proposes amendments to the Real Property Gains Tax Act 1976 (‘RPGTA’) in relation to: In this article, we explore the proposed changes to the RPGTA and their potential implications for […]
FAQs on the implementation of Tax Identification Number, TIN
1. As a strategy to increase tax compliance while broadening the tax base, Malaysians over the age of 18 and business entities will be issued a TIN, which is similar to the procedure in many other countries. 2. The Income Tax Act 1967 (“the Act”) accordingly added a new section, section 66A, to give effect […]
