Income Tax (Exemption) (No. 6) Order 2021 (Amendment) Order 2024
The Income Tax (Exemption) (No. 6) Order 2021 [P.U. (A) 282/2021] was amended by the Income Tax (Exemption) (No. 6) Order 2021 (Amendment) Order 2024 [P.U. (A) 107/2024]. The amendment order was made on 8 March 2024 and has effect from the year of assessment 2024. The key changes introduced by the amendment order are: […]
Tax Incentives for Manufacturer of Electric Vehicle Charging Equipment
Update: The Ismail Sabri Government Budget is no longer applicable.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 Under the National Automotive Policy 2020 and the Low Carbon Mobility Blueprint 2021 – 2030, Malaysia is making significant […]
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 Medical Tourism
Update: The Ismail Sabri Government Budget is no longer applicable.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 […]
Review of Tax Incentive for Tour Operators
Update: The Ismail Sabri Government Budget is no longer applicable.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 […]
Tax Incentive For Organising Conferences In Malaysia
Most of the time, a conference is a large meeting where researchers, academicians, and professionals can share their work and research in fields like medicine, law, science, engineering, technologies, business management, and so on. Since the year of assessment 1997, Malaysian organisers of conferences whose principal activities are to promote and run conferences have been given […]
50% Tax Exemption for Investment in Equity Crowdfunding
1. In Malaysia, the amendments to the existing Employment Act 1955 have been the subject of much expectation over the past few years. 在马来西亚，对现有的1955年劳工法令的修订在过去几年中，一直是受薪一族所期待的。 To Download – Employment Act 1955 👇 2. The Employment (Amendment) Bill (“the bill”) 2021 was passed by Dewan Negara on 30 March 2022. 2021年就业（修订）法案于2022年3月30日，在国会获得上议院的通过。 To Download – Employment (Amendment) Bill […]
Income Tax (Exemption) (No. 3) Order 2022: Venture Capital Management Company (VCMC)
1. Exemptions would be extended for a period of four years, with the qualifying investment period being extended to the end of December 2026, according to the Budget 2020 proposal. 2. For the purposes of the legislation, on 15 April 2022, the Minister, in the exercise of the powers conferred by paragraph 127(3)(b) of the […]
Income Tax (Exemption) (No. 2) Order 2022: Venture Capital Company
1. As proposed in Budget 2020, the incentive would be extended for a period of four years, with the qualifying investment period being extended to the end of December 2026. Applications for the incentives must be filed to the SC by December 31, 2023, for certification purposes. 2. For the purposes of the legislation, on […]
Income Tax (Exemption) Order 2022 – Foreign Sourced Income in calculating Cukai Makmur
1. On 5 April 2022, the Minister, in the exercise of the powers conferred by paragraph 157(3)(b) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Exemption) Order 2022 [P.U. (A) 96]. 2. For the year of assessment 2022, the Minister grants an exemption from the application of the provisions of subparagraph […]
