On 29 June 2021, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, the MLI entered into force for Malaysia on 1 June 2021.
Related Posts
Malaysia Gazettes Finance Act, Labuan Business Activity Tax (Amendment) (No. 2) Act 2024
Malaysia published the Finance Act 2024 (Act No. 862) and Labuan Business Activity Tax (Amendment) (No. 2) Act 2024 in the Official Gazette on 31 December 2024. Measures include amendments to income tax, global minimum tax, real property gains tax,
Read MoreMalaysia announces tax breaks for Special Economic Zone with Singapore
Malaysia announced several tax incentives to attract investments to the joint special economic zone with Singapore today, 8 January 2025. Jointly announced by the Johor state government and Malaysia’s Ministry of Finance, the incentives
Read MoreMalaysia updates transfer pricing guidelines, audit framework
Malaysia’s Inland Revenue Board (IRB) has updated transfer pricing guidelines and transfer pricing audit framework. The transfer pricing guidelines have been updated in accordance with the amendments made to section 140A, the introduction of
Read MoreMalaysia publishes guidance on Pillar Two global minimum tax, updates FAQs
The Inland Revenue Board of Malaysia has updated its guidance on the Pillar Two Global Minimum Tax (GMT) regarding its administration and interpretation, which goes into force on 1 January 2025. The updates include newly released Guidelines on
Read MoreMalaysia: House of Representatives pass Finance Bill 2024
Malaysia’s House of Representatives (Dewan Rakyat) have passed the Finance Bill 2024, Labuan Business Activity Tax (Amendment) (No.2) Bill 2024, and Measures for the Collection, Administration, and Enforcement of Tax Bill 2024 (the Bills) after
Read MorePhilippines plans to revise tax treaties with Indonesia, Malaysia, Singapore
The Philippines government is reportedly planning to enter into negotiations to revise the 1981 tax treaty with Indonesia, the 1982 tax treaty with Malaysia, and the 1977 tax treaty with Singapore. The agreement between the Philippines and
Read More