Malaysia signs new DTA with Poland
Malaysia has signed a new income tax treaty with Poland on 8 July 2013; the new treaty will replace the current 1977 Malaysia-Poland Treaty. The new treaty will enter into force in the tax year just following the calendar year in which the approval
See MoreMalaysia: Deduction for Acquisition of Foreign Owned Company Rules
The Income Tax (Deduction for Cost of Acquisition of Foreign Owned Company) Rules 2013 were published in the official gazette on 4 July 2013. The rules are however deemed to have come into operation on 3 July 2012. The Rules provide that for the
See MoreDocumentation Considered in Malaysia’s First Transfer Pricing Case
The Special Commissioners of Income Tax in Malaysia delivered a landmark decision on February 2013 in the favour of the taxpayer in the first transfer pricing litigation in Malaysia. The case concerned assessments on a shipping and logistics
See MoreMalaysia has passed the budget for 2013
The Government of Malaysia has passed the Budget for 2013, on 10 January as the Finance Act
See MoreMalaysia: Gazette publishes regarding tax deduction at source
Monthly tax deduction at source by the employer on income from employment has been published as gazette on 27 December 2012. The amendment has taken place by the Income Tax Deduction from Remuneration Amendment Rules No. 2 of 2012 which is effective
See MoreImplementation of Malaysian thin capitalization has been deferred
The Ministry of Finance announced on 11 December 2012 that the implementation of the thin capitalization rules has been deferred until the end of December
See MoreThe Malaysian Budget for 2013
The Malaysian Budget for 2013 was presented by the Prime Minister (also the Finance Minister) on 28 September 2012 and is generally effective from year of assessment 2013 unless otherwise stated. Key points of the budget are summarized
See MoreNew Zealand and Malaysia sign a Protocol to add tax information exchange
On November 6, 2012, New Zealand and Malaysia signed a Protocol to add tax information exchange provisions to their existing double taxation agreement
See MoreHong Kong Signs DTA with Malaysia
On 25 April 2012, in Kuala Lumpur, Hong Kong’s Financial Secretary, and the Malaysian Minister of Finance, signed a comprehensive double taxation agreement (DTA) between Hong Kong and Malaysia. Under the new agreement, double taxation will be
See MoreNew transfer pricing form issued by Malaysia’s tax authority
Malaysia’s Inland Revenue Board (IRB) has issued a new form to collect information on transfer pricing compliance, and enforce transfer pricing rules for the corporate taxpayers. The IRB targeted the corporate taxpayers because they have
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