In our view, the announcement comes as no surprise given the larger global trend in GMT implementation to ensure tax revenues are not ceded to other countries. The QDMTT, in particular, is a crucial element in protecting tax revenues generated in Malaysia. However, MNCs would need to begin ...
The Malaysia Sales and Services Tax (SST) was raised from 6% to 8% starting 1 March 2024. Find out what industries and services will be impacted.
Find out the corporate tax rates and corporate income tax rate for chargeable income in Malaysia, and explore tax deductions measures for SMEs.
Malaysia will introduce new tax incentives in 2025 to attract high‑value foreign and local investments. TheInvestment Incentive Framework, announced on 18 October 2024 is set for implementation in the third quarter of 2025. The framework includes new tax incentives for multinational enterprises (MNEs...
Malaysia announced on 2 November 2023 that the High-Value Goods Tax (HVGT) will be imposed starting 1 May 2024. The government has yet to announce the exact HVGT implementation mechanism; goods covered; and tax rates, as it is still finalising details. H
The National House Buyers Association (HBA) has voiced strong opposition to the proposed reintroduction of an inheritance tax in Malaysia’s 2025 Budget. The tax is one of several measures being considered to broaden the country’s tax base and increase government revenue. Howeve...
The Malaysian government announced on 20 September 2024 that single family offices (SFOs) in the Forest City Special Financial Zone will benefit from zero tax. To qualify, SFOs must have a registered office in Pulau 1, Forest City, Johor; at least MYR30 million (US$7.1 million) assets und...
Due to tax legislation changes in Malaysia, the Service Tax rate for AWS Services has increased from 6% to 8% with effect from March 1, 2024. 8% service tax will apply on invoices for purchases of AWS Services made on or after March 1, 2024. 6% service tax will apply on usage invoice...
September 11, 2024 The KPMG member firm in Malaysia prepared a monthly summary of tax developments that covers income tax and indirect tax.Income tax Guideline on the Director General of Inland Revenue’s approval under Subsection 44(6) of the Malaysian Inbound Tourism Associ...
Audit and Compliance in Malaysia: What’s New for 2025 January 20, 2025 by ASEAN Briefing The Companies Commission of Malaysia has implemented changes to the criteria for audit exemptions. Revised Tax Incentive Schemes for Funds in Singapore January 16, 2025 by ASEAN Briefing Singapore update...