Malaysia: IRBM releases updated FAQs providing new CbCR submission requirement
13 September, 2021
On 13 September 2021, the Inland Revenue Board of Malaysia (IRBM) has published the updated “frequently asked questions on tax matters during the national recovery plan”. Accordingly, companies in Malaysia responsible for filing the CbCR report may request an extension of the filing deadline if the reporting fiscal year falls within the National Recovery Plan period. Application for extension of time must be submitted in writing to Department of International Taxation and the appeal will be considered based on the merits of the case. The National Recovery Plan is effective from 1 June 2021 until further notice.
The Inland Revenue Board of Malaysia (IRBM) has amended the Public Ruling (PR) to clarify the tax incentives available to an investor who has invested in a BioNexus status company (BSC) in Malaysia. The key updates outlined in Public Ruling No.
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,
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
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
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
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
