Malaysia updates e-invoice guidelines for system disruptions

27 March, 2025

The Inland Revenue Board of Malaysia (IRBM) released e-Invoice Guideline Version 4.3 on 18 March 2025. This update adds subsection 2.5.4, which provides guidance for handling MyInvois System disruptions, failures, or outages. The MyInvois System

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Malaysia introduces new consolidated income tax and employer audit framework

21 March, 2025

The Inland Revenue Board of Malaysia (IRBM) has released a new Tax Audit Framework on Income Tax and Employer on 15 March 2025. The updated framework replaces several previous audit frameworks, including: Tax Audit Framework (2022); Tax

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Malaysia announces new deadlines for e-invoicing compliance

26 February, 2025

The Inland Revenue Board of Malaysia (IRBM) has released updates regarding electronic invoicing (e-invoicing) guidelines on 21 February 2025. These include revised versions of the e-invoice guideline (version 4.2) and the e-invoice specific

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Malaysia grants tax exemptions on payments to/from Labuan firms

25 February, 2025

Malaysia has released the Income Tax (Exemption) Order 2025 in its Official Gazette on 13 February 2025.  This order grants tax exemptions on specific payments made to or received from Labuan companies. A Labuan company is incorporated under the

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Malaysia clarifies ruling on tax incentives for BioNexus firms

24 January, 2025

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.

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Malaysia Gazettes Finance Act, Labuan Business Activity Tax (Amendment) (No. 2) Act 2024

09 January, 2025

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,

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Malaysia announces tax breaks for Special Economic Zone with Singapore

08 January, 2025

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

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Malaysia updates transfer pricing guidelines, audit framework

01 January, 2025

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

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Malaysia publishes guidance on Pillar Two global minimum tax, updates FAQs

13 December, 2024

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

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Malaysia: House of Representatives pass Finance Bill 2024

11 December, 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

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Philippines plans to revise tax treaties with Indonesia, Malaysia, Singapore

28 November, 2024

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

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Malaysia updates global minimum tax, Labuan self-assessment rules in Finance Bill 2024

28 November, 2024

Malaysia’s Deputy Minister of Finance has presented the Finance Bill 2024 and the Labuan Business Activity Tax (Amendment)(No. 2) Bill 2024 to the Parliament, on 19 November 2024, proposing amendments to the Income Tax Act 1967 (ITA), Real

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Malaysia updates service tax rules, includes new taxable services and expands group relief

27 November, 2024

The Royal Malaysian Customs Department has released the Service Tax (Amendment) (No. 2) Regulations 2024 which broadens intra-group relief to include maintenance and repair services while also revising the range of taxable services. Amendments to

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Malaysia updates green tech tax incentives for businesses, solar leasing

15 November, 2024

The Malaysian government is taking a strong stance on renewable energy targets, increasing the share of renewable energy in the electricity generation capacity mix to 70% by 2050; in line with Malaysia’s aspiration to be an inclusive, sustainable,

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Russia ratifies income tax treaty with Abkhazia, Malaysia

07 November, 2024

The President of Russia signed the Law No. 372-FZ for the ratification of the income tax treaties with Abkhazia and Malaysia on 2 November 2024. Earlier, the Russian government approved draft laws for the ratification of pending income tax

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Malaysia implements new rules for higher capital allowance for ICT equipment, software 

06 November, 2024

Malaysia Ministry of Finance published two regulations in the Official Gazette on 30 October 2024 – the Income Tax (Accelerated Capital Allowance) (Information and Communication Technology Equipment) Rules 2024 and the Income Tax (Capital

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Russia: Lower house of parliament approves ratification of tax treaty with Malaysia  

25 October, 2024

The Russian State Duma (lower house of parliament) approved the draft law for the ratification of the income tax treaty with Malaysia on 22 October 2024. Earlier, the two nations signed a new income tax treaty on 17 May 2024. This agreement

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Malaysia: 2025 budget unveils dividend tax, new tax incentives, sales and service tax changes 

21 October, 2024

Malaysia announced its 2025 Budget on 18 October 2024 with various tax measures. Dividend tax Starting from the year of assessment 2025, a 2% dividend tax will be applied to the annual chargeable dividend income of individuals exceeding MYR

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