Plans in the Works by Malaysian Government to Create New Economic Corridor A new economic corridor development will be put forth to the Economic Action Council (EAC), announced Malaysia’s Economic Affairs Minister. The proposal for the new economic corridor is being deliberated by the Ministry of Economic Affairs before it reaches the EAC. It is…
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…
Malaysia’s Incentive Hub Headquarters (Principal Hub Incentive 2.0) Is Better Than Ever Malaysia’s government has announced the launch of the Principal Hub Incentive 2.0, a new and improved version of its predecessor. Previously known as Principal Hub Incentive, the initiative was first introduced back in 2015. It allowed any company with existing operations in Malaysia…
Malaysia Budget 2020: SMEs and Entrepreneurs Get More Supports Small and medium enterprises (SMEs) and entrepreneurs were among the groups that will benefit from Malaysia Budget 2020. Amongst other initiatives, RM 455 million will be allocated for Bumiputra entrepreneurs. Chinese community entrepreneurs would receive a total of RM 100 million loans with 4% interest. Similarly,…
Budget 2020: Malaysia Makes Tax Exemptions for Tourism The Malaysian government has a new strategy. And that is the tax exemption and incentive strategy, which is geared towards the tourism sector of the nation. Tax Exemptions for Tourism is a bold effort to boost the presence of tourists in Malaysia. Budget 2020 budget will offer tax incentives…
Budget 2020: More Support For Companies in Malaysia Companies in Malaysia are getting a major boost from Budget 2020. The government is set to allocate funds upwards of RM1billion for customized packaged investment incentives. This will be yearly for five years to attract foreign companies to the country, a move that will help companies and…
The Improvement to Sales and Services Tax in Malaysia Budget 2020 The 2020 Budget is poised to improve Malaysians’ lives and bring stability to the Government’s finances. The Finance Minister made it clear that the Government will not reintroduce GST and the Budget 2020 will see an enhancement in the Sales and Services Tax to…
The New Number Format Will Be Used for All Registered Companies in Malaysia With a steady economy, we are seeing more businesses and companies being registered. Every entrepreneur, big or small, is joining the entrepreneurship bandwagon as it is a viable alternative source of income. Just recently, a new business registration number format is introduced…
Is The Sales and Service Tax SST Malaysia Here To Stay? According to economists, the Sales and Service Tax (SST) Malaysia is here to stay because going back to Goods and Services Tax GST Malaysia just after it has been abolished will be harmful to businesses. While the SST Malaysia resulted in a lower burden…