Tax
Publications by Mazars regarding the latest development in taxation for individual, private and public entities in Malaysia and globally.
Budget 2025 Newsletter
On 18 October 2024, YAB Dato’ Seri Anwar Ibrahim, the Prime Minister and Minister of Finance, tabled the Malaysia MADANI Budget 2025 in Parliament with the themes of “Revitalising the Economy, Generating Change, Prospering the Rakyat”. To achieve this, the budget has become the highest budget ever presented with a total allocation of RM423 billion, comprising RM335 billion, RM86 billion and RM2 billion estimated for operating expenditure, development expenditure and contingency savings respectively.
Taxation of International Assignees
In this new normal, the global tax landscape is dynamic and ever-changing. To keep up, companies and individuals have to understand the various issues concerning tax in their market of choice.
A New Era: Malaysia’s Move to E-Invoicing
On July 21, 2023, Malaysia’s tax authority, the Inland Revenue Board (IRB), introduced new guidelines for electronic invoicing (e-invoicing). This means that instead of paper invoices, businesses will now use digital ones. It will happen in stages, with some businesses starting on June 1, 2024, and all businesses using e-invoices by January 1, 2027.
Sales Tax on Low Value Goods (LVG)
The sales tax will come into effect on January 1, 2024. Goods purchased before this date, even if delivered after January 1, will not incur the new 10% sales tax, provided the seller confirmed the LVG order before January 1.
Capital Gains Tax Summary of new provisions
Presently, there is no Capital Gains Tax (CGT) system in Malaysia, except for the Real Property Gains Tax (RPGT), which solely applies to profits generated from the sale of real estate or shares in a Real Property Company (RPC), with rates ranging from 0% to 30%.
The application of source and permanent establishment concept from Malaysia’s perspective.
As Malaysia adopted territorial scope of taxation, it is important for taxpayers (i.e. resident or non-resident and whether company or individual) to understand what, when and where income arising will be subject to tax in Malaysia. The Malaysian Income Tax Act 1967 does not define “source” and consequently each activity has to be carefully examined to determine the source from which income was generated.
M&A Tax in Asia-Pacific Webinar
The tax landscape in Asia-Pacific is dynamic and ever-changing. To keep up, companies and individuals have to understand the various issues concerning tax in their market of choice.
Tax Budget Newsletter 2024
Our Prime Minister and Minister of Finance, YAB Dato’ Seri Anwar Ibrahim announced the Malaysia’s Budget 2024 on 13 October 2023 marking it as the Second MADANI Budget with the theme of “Economic Reforms, Empowering the People”.
Important Updates on Transfer Pricing
2019/2020 Malaysian Taxbiz Companion
This publication incorporates the amendments contained in the Finance Bill 2019 as well as the proposals and measures introduced in the 2020 Budget which was announced on 11 October 2019.