Taxation

Real Property Gains Proposal Details in Finance Bill 2023

Asset Transfer to Controlled Foreign-Incorporated Businesses Outside of Malaysia Present Currently, a real estate transfer a) by a person b) by the person's wife c) by the person and his wife or another...


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Corporate Tax Proposals Details in Finance Bill 2023

Revision of MSMEs' Income Tax Rate and MSMEs' Exclusion Requirements Present Currently, Part I of Schedule 1 of the Malaysian Income Tax Act 1967 (MITA) specifies the following income tax...


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Key Highlights of the Finance Bill 2023

For Businesses Review of MSMEs' Income Tax Treatment and MSME Exclusion Requirements On the first RM150,000 of chargeable income, the corporate income tax rate for MSMEs would drop from 17%...


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Retabled Budget 2023: Tax Measures that May Affect You  

Retabled Budget 2023: Tax Measures that May Affect You     Corporate tax   The corporate income tax rate is reduced up to 2% for Micro, Small & Medium Enterprises (MSMEs)  The corporate income...


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Personal Income Tax Malaysia 2024: The Definite FAQ Guide

Personal income tax in Malaysia (aka. Individual income tax Malaysia) can be a complex and confusing process, especially for those who are new to the system or filing...


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Malaysia Impose 10% Tax on Low-Value Goods, Value below RM500

The Royal Malaysian Customs Department (RMCD) has stated that the Malaysian government would apply a 10% sales tax to all imported low-value goods (LVG) purchased online beginning 1...


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Tax Incentives Available to Venture Capital

Venture capital refers to financial capital that individuals offer, companies or Venture Capital Companies (VCCs) to the potentially higher-risk and high-potential Venture Companies (VCs) and start-ups. This capital...


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Malaysia 2022 Witholding Tax on Payments Made

With effect from 1 January 2022, companies are subjected to 2% withholding tax if they make payments to their respective authorized agents, dealers, or distributors (ADDs). These payments...


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Malaysia’s Budget 2022: The Key Tax Changes

The Malaysian parliament has recently passed ‘Finance Bill 2021’. This bill was gazetted as “Finance Act 2021” (Act 833) on Dec. 31, 2021. The Finance Bill 2021 is...


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New Tax Measures in Malaysian Budget 2022 that are going to Affect Businesses and Individuals

Recently, Malaysian government has introduced a wide range of tax measures. The information regarding such measures was released on October 29, 2021. Being part of a new budget,...


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