Thursday, 18 January 2018
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malaysia - Tax & Revenue

Government launches Register of Property Managers

KUALA LUMPUR, Jan 11 (Bernama) - The Ministry of Urban Wellbeing, Housing and Local Government has launched the Register of Property Managers with an amendment of Act 242 Valuers, Appraisers and Estate Agents Act, 1981, gazetted on Oct 17, 2017. Its Minister, Tan Sri Noh Omar said the amendment effectively brings the practice of property manag ...
Date: 11 January 2018; Type: Legal News; Source: Bernama

CPO Export Tax Suspension to benefit Plantation Companies

KUALA LUMPUR, Jan 9 (Bernama) - The government's decision to suspend the Crude Palm Oil (CPO) export tax for three months is expected to benefit plantation companies with significant upstream operations and strengthen commodity prices in the first quarter of the year.
Date: 09 January 2018; Type: Tax News; Source: Bernama

IRBM provides Procedure for filing Tax Return Form for 2018

PUTRAJAYA, Jan 3 (Bernama) - The Inland Revenue Board of Malaysia (IRBM) has uploaded the procedure for filing the Income Tax Return Form (ITRF) for the year 2018 as a reference and preparation for taxpayers to submit tax returns this year.
Date: 03 January 2018; Type: Tax News; Source: Bernama

Income Tax (Amendment) Act 2017

This Act seeks to amend sections 112A, 113A and 119B of the Income Tax Act 1967.
Date: 29 December 2017; Type: Federal Amendment Act; Citation: Act A1556 of 2017; Source: AGC Federal Gazette

Income Tax (Advance Pricing Arrangement) (Amendment) Rules 2017

These Rules come into operation on 1 January 2018.
Date: 29 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 449 of 2017; Source: AGC Federal Gazette

Customs Duties (Exemption) Order 2017

This Order comes into operation on 3 January 2018.
Date: 29 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 445 of 2017; Source: AGC Federal Gazette

Goods and Services Tax (Exempt Supply) (Amendment) (No. 2) Order 2017

This Order comes into operation on 1 January 2018.
Date: 28 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 421 of 2017; Source: AGC Federal Gazette

Goods and Services Tax (Zero-Rated Supply) (Amendment) (No. 3) Order 2017

This Order comes into operation on 1 January 2018.
Date: 28 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 422 of 2017; Source: AGC Federal Gazette

Stamp Duty (Exemption) (No. 5) 2013 (Amendment) Order 2017

This Order comes into operation on 1 January 2018.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 414 of 2017; Source: AGC Federal Gazette

Income Tax (Exemption) (No. 12) 2016 (Amendment) Order 2017

Under this Order, the Minister amends paragraph 1 of the Income Tax (Exemption) (No. 12) Order 2016.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 413 of 2017; Source: AGC Federal Gazette

Lembaga Pembangunan Industri Pembinaan Malaysia (Imposition of Levy) Order 2017

This Order has effect for the period from 1 January 2018 to 31 December 2019.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 418 of 2017; Source: AGC Federal Gazette

Income Tax (Exemption) (No. 11) 2016 (Amendment) Order 2017

Under this Order, the Minister amends paragraph 1 of the Income Tax (Exemption) (No. 11) Order 2016.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 412 of 2017; Source: AGC Federal Gazette

Income Tax (Country-by-Country Reporting) (Amendment) Rules 2017

Under these Rules, the Minister amends the Income Tax (Country-by-Country Reporting) Rules 2017.      
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 416 of 2017; Source: AGC Federal Gazette

Income Tax (Exemption) (No. 3) 2014 (Amendment) Order 2017

This Order comes into operation on 1 January 2018.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 411 of 2017; Source: AGC Federal Gazette

Stamp Duty (Exemption) (No. 6) 2013 (Amendment) Order 2017

This Order comes into operation on 1 January 2018.
Date: 27 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 415 of 2017; Source: AGC Federal Gazette

Customs to suspend Licences of 20 Forwarding Agents under Demerit System

SIBU, Dec 27 (Bernama) - The Royal Malaysian Customs Department is to announce the suspension of the licences of 20 forwarding agents nationwide next month.
Date: 27 December 2017; Type: Legal News; Source: Bernama

Income Tax (Set-off for Tax Charged on Actuarial Surplus under Takaful Business) Rules 2017

These Rules are deemed to have effect from the year of assessment 2015.
Date: 26 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 410 of 2017; Source: AGC Federal Gazette

Labuan Business Activity Tax (Country-by-Country Reporting) Regulations 2017

These Regulations shall apply to an MNE Group where (a) the total consolidated group revenue in the financial year preceding the reporting financial year is at least three billion ringgit, and (b) its ultimate holding entity or any of its constituent entities is a Labuan entity carrying on a Labuan business activity.
Date: 26 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 409 of 2017; Source: AGC Federal Gazette

Stamp Duty (Exemption) (No. 2) Order 2017

This Order comes into operation on 1 January 2018.
Date: 26 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 408 of 2017; Source: AGC Federal Gazette

Income Tax (Automatic Exchange of Financial Account Information) (Amendment) Rules 2017

The Minister makes the amends to the Income Tax (Automatic Exchange of Financial Account Information) Rules 2016.
Date: 22 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 403 of 2017; Source: AGC Federal Gazette

Industry Updates

Lawyer Charged with fraudulently withdrawing Money from Account of Client

KUALA LUMPUR, Jan 17 (Bernama) - A lawyer pleaded not guilty in the Magistrate's Court here today to a charge of fraudulently withdrawing over RM4 million from his firm's client account, six years ago.

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ACCA appoints New Malaysia Country Head

KUALA LUMPUR, Jan 16 (Bernama) - The Association of Chartered Certified Accountants (ACCA) has appointed Edward Ling as the Malaysia Country Head with immediate effect.

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Establishment of Special Court on Human Trafficking

KUALA LUMPUR, Jan 13 - The Human Rights Commission of Malaysia (SUHAKAM) has welcomed the announcement by the Chief Justice of Malaysia Tun Md Raus Sharif that a special court will be established to hear human trafficking cases with the intention of speedily disposing of such cases.

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Laos, Myanmar vow to cement Ties, sign Three Cooperation Deals

The governments of Laos and Myanmar agreed yesterday to enhance bilateral ties and cooperation during Prime Minister Thongloun Sisoulith’s official visit to the country.

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MyGDX, Government Agency Information-Sharing Platform launched

PUTRAJAYA, Jan 15 (Bernama) - The Malaysian Administrative Modernisation and Management Planning Unit (Mampu) has introduced MyGDX application or the Malaysia Government Central Data Exchange, an information-sharing platform which provides data brokerage service for information often referred by agencies in serving their customers.

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Beware of Bogus Customs Officers - JKDM

ISKANDAR PUTERI, Jan 14 (Bernama) - The Royal Malaysian Customs Department warned the public to be wary of individuals claiming to be their officers out to collect the Goods and Services Tax (GST).

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Malaysia-Singapore ink Agreement On RTS Link this Month

KUALA LUMPUR, Jan 13 (Bernama) - The Bilateral Agreement for Rapid Transit System Link (RTS) between Johor Bahru and Woodlands, Singapore will be signed during the upcoming Malaysia-Singapore Leaders' Retreat scheduled on Jan 16, in the island republic.

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ASEAN Chair: Singapore will do its best to take the Group forward

SINGAPORE, Jan 13 (Bernama) - As the Association of Southeast Asian Nations (ASEAN) Chair this year, Singapore will do its best to take the group forward, pledged Prime Minister Lee Hsien Loong.

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SSM distributes Tithes totalling RM58,200 in Gopeng

IPOH, Jan 12 (Bernama) - The Companies Commission of Malaysia (SSM) today distributed tithes totalling RM58,200 to 144 poor and needy recipients including three madrasah and two surau in Gopeng.

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Absence of Bar Council at Judiciary Year 2018 unprofessional - Azalina

KUALA LUMPUR, Jan 12 (Bernama) - The failure of the Malaysian Bar Council to attend today's opening of Judiciary Year 2018 is regarded as 'unprofessional' and giving it a bad image.

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Public Criticism on Judgements must be Fair, says Chief Justice

PUTRAJAYA, Jan 12 (Bernama) - Criticism by the public on court judgments must be done constructively, respectfully and in good faith, said Chief Justice Tun Md Raus Sharif.

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