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The Finance Act 2018 and various Orders were gazetted recently. Selected changes are highlighted below for your attention.

The long-awaited Sales Tax and Service Tax (“SST”) frameworks have finally been released by the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018. The effective date of the SST implementation will be on 1 September 2018.

This Budget analysis provides details on various tax measures that were announced in the 2019 Budget speech.

Publications in relation to Malaysian and International Tax

Indirect taxation is still evolving, and an arguable simple tax is growing in its complexity and application as a traditional goods and services model is replaced with digital content; virtual consumption and seamless international trade flows. But how can you stay ahead?.

The long-awaited Sales Tax and Service Tax (“SST”) frameworks have finally been released by the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018. The effective date of the SST implementation will be on 1 September 2018.

Malaysia’s Participation in Forum of Harmful Tax Practices (FHTP) under the Organization for Economic Cooperation and Development (OECD) Inclusive Framework (IF) – Base Erosion and Profit Shifting (BEPS) Action Plan 5

GST will be zero-rated with effect from 1 June 2018

Issuance of Practice Note No. 1/2018 by the Inland Revenue Board of Malaysia

Recap of Relief Reviewed / New Tax Reliefs for Individuals for the Year of Assessment 2017

This Budget analysis provides details on various tax measures that were announced in the 2018 Budget speech.

Further to the Finance Act 2017 being gazetted on 16 January 2017, The Inland Revenue Board of Malaysia has issued two Practice Notes to clarify issues pertaining to the amended Section 15A of the Income Tax Act 1967 specifically relating to issues on effective date and on existing Double Taxation Avoidance Agreement.

The Inland Revenue Board of Malaysia has issued a Media Release to provide clarification regarding the imposition of penalty at a rate of 100% which will be implemented with effect from 1 January 2018. Under the Income Tax Act, 1967, the Director General of Inland Revenue is given the power to impose a penalty for the offence of default in declaring income or in declaring correct income which is subject to tax.

Recap of the New Tax Reliefs / Increases in Tax Relief for Individuals for the Year of Assessment 2016.

With the Finance Act, 2017 being gazetted on 16 January 2017, there are some of the salient amendments in the Income Tax Act, 1967 (“the Act”) that would likely impact many businesses.

This Budget analysis provides details on various tax measures that were announced in the 2017 Budget speech.