Malaysia Middle-Income Tax Lowered, Boosting Economic Growth and Providing Relief for Taxpayers Every income earner in Malaysia needs to pay income tax. But with the rising inflation, Malaysians of a lower and middle-class income group have been affected the most. The recent revised Budget 2023 has decided for Malaysia’s middle income tax lowered by…
Manufacturers in Malaysia Are Urging Putrajaya to Reinstate GST and Prioritise Economic Recovery Given the weak domestic and external environments caused by Covid-19, priority should be given to strengthening the economy and restoring more favourable business conditions. This is according to the Federation of Malaysian Manufacturers (FMM). This situation is concerning because the debt servicing…
Tax Payment Postponement and Tax Assessment Amendments for Tourism Sector in Malaysia New Application Forms Uploaded by the IRB Malaysia’s Inland Revenue Board (IRB) has allowed the companies in the tourism sector to do amendment to this year’s tax assessment. The IRB is also postponing tax payments for the sector and has provided the application…
Frequently Asked Questions (FAQ) on Tax Matters During the MCO Period In line with the Movement Control Order (MCO), the Inland Revenue Board (IRB) has issued a list of frequently asked questions (FAQ) on tax matters during the MCO period. While there are numerous FAQs covering different tax matters, the following are the pertinent highlights for your…
Extension of Two Months for Filing Malaysia Income Tax 2020 The Government has announced an extension of two months for filing income tax from the original deadline in consideration of the Movement Restriction Order (MRO) that has been enforced during the COVID-19 pandemic. The new deadline for filing income tax returns in Malaysia is now…
Accountability and Responsive Service is Among Objectives of the Anti-corruption Plan (ACP) by IRBM Corruption is not only wrong for an individual, but it will also stamp out development if it spreads throughout an organisation. Thus, positive character development and enforcing regulation is an on-going course of action. This is what the Inland Revenue Board…
Changes to Personal Tax in Malaysia Budget 2020 – More Benefits for Society Malaysia Budget 2020 proposed a series of enhancements to the existing personal tax regime. Budget 2020 will do more to support the community with extension of tax exemption for women returning to work, increase the limit of tax relief for fees paid…
Changes to Corporate Tax in Malaysia Budget 2020 – All Businesses Must Know Small and Medium-Sized Enterprises (SMEs) and entrepreneurs are the key beneficiaries in the newly tabled Malaysia Budget 2020. The Malaysian government has proposed a range of tax enhancements to boost the growth of SMEs. Review of Corporate Income Tax Treatment for…
