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With the rising impact of COVID-19 being seen worldwide, all industries will face significant disruption to their supply chain, workforce and cashflow. The right response will depend on the specific circumstances you and your business face. However, when experiencing significant stress or distress, we recommend you focus everything you do around the management of cash.

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.

Due to the further extension of Movement Control Order (“MCO”) announced by the Government on 25 March 2020, Bursa Malaysia had on 26 March 2020 announced additional relief measures to alleviate the impact of Covid-19 on capital market players.

Due to the World Health Organization’s announcement on 11 March 2020, which categorised the COVID-19 outbreak as pandemic and the implementation of the Movement Control Order (“Order”) that is taking effect from 18 March 2020 to 31 March 2020 announced by Government on 16 March 2020; Companies Commission Malaysia (“SSM”), Securities Commission Malaysia (“SC”) and Bursa Malaysia Securities Berhad (‘the Exchange”), had on 16 March 2020 and 17 March 2020 respectively announced on the followings

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.

The Service Tax (Amendment) (No. 2) Regulations 2019 was gazetted recently on 23 December 2019. The main highlights of the amendment cover areas announced in the 2020 Budget and other new amendments, which will take effect from 1 January 2020.