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The spread of the Covid-19 has been a global challenge socially and economically, and Malaysia is not spared from the crisis. In order to overcome the Covid-19 crisis, the Government has taken a strategy comprising of six approaches known as 6R - Resolve, Resilience, Restart, Recovery, Revitalise and Reform. As Malaysian enters the Recovery stage, an economic recovery plan known as Pelan Jana Semula Ekonomi Negara (PENJANA) will be introduced by the Government. This Adviser highlights the various tax measures that were announced as part of the initiatives of the PENJANA.

The Royal Malaysian Customs Department has recently announced another extension of payment deadlines to 30 June 2020. Penalties imposed on tax payments for the following will be fully remitted if the payments are made by 30 June 2020.

In view that the Movement Control Order is further extended to the fourth phase up until 12 May 2020, the deadlines for payments due to the Royal Malaysian Customs Department (“RMCD”) for the following returns have been further extended to 31 May 2020.

Further to the earlier Prihatin Rakyat Economic Stimulus Package, the Malaysia government announced additional measures valued at RM10 billion on 6 April 2020, aimed in helping businesses in particular SMEs to pull through this challenging period.

The official system in the MySToDS portal for a foreign registered person (“FRP”) providing digital services to consumers in Malaysia to submit the returns, pay taxes and other matters as allowed by the Director-General will go live on 1 April 2020

A second economic stimulus package was announced by the Malaysia government on 27 March 2020 to strengthen the economy, as well as necessary measures to provide assistance to all Malaysians who are affected by the COVID-19 outbreak and the movement control order from 18 March 2020 to 14 April 2020.

Following the implementation of the Movement Control Order for the period 18 March 2020 to 31 March 2020 (‘this period”), the Inland Revenue Board of Malaysia has granted extended deadlines and introduced temporary operating procedures during this period on various income tax, real property gains tax and stamp duty matters.

Welcome to Tax Alert, Grant Thornton Malaysia’s newsletter on the latest tax updates and information.

Welcome to Tax Alert, Grant Thornton Malaysia’s newsletter on the latest tax updates and information.

Welcome to Tax Alert, Grant Thornton Malaysia’s newsletter on the latest tax updates and information.

There were changes made to the proposals announced previously on the Malaysia Economic Stimulus Package 2020. We have updated our Adviser to incorporate the amendments.

An economic stimulus package was announced on 27 February 2020 to brace the country’s economy against the effects of the Covid-19 outbreak.

Welcome to Tax Alert, Grant Thornton Malaysia’s newsletter on the latest tax updates and information.

The Inland Revenue Board of Malaysia (“IRBM”) has released the latest Tax Audit and Investigation Framework .

The Royal Malaysian Customs Department has recently released six Service Tax Policies setting out the amendments and approaches in relation to service tax matters with effect from 1 January 2020.

Acquisition of services from foreign service provider may be subject to service tax if it is a taxable service. Recently, there was announcement that this acquisition of services may be exempted from service tax.