Malaysia to Impose Tourism Tax from July Malaysia will begin imposing tourism tax from July onward and not in August as planned earlier. According to Malaysian Tourism and Culture Minister Mohamed Nazri Abdul Aziz the money collected would be used to promote Malaysia overseas and refurbish tourism facilities. “The tax is necessary as the ministry…
Clarification of Income Tax on Uber and Grabcar Drivers Inland Revenue Board of Malaysia (IRBM) has, on 31 March 2017, released a press statement to clarify that the individual income tax imposed on Uber and GrabCar drivers is similar to the tax imposed on an individual who is carrying on a business. Income tax is…
GST TAP System Now Charges Penalties Automatically As now is the tax season, there are things that you need to keep in mind. One of the important things you need to know is the penalty for late payment. If you file or pay late, or you do not file at all, you owe penalties and…
e-Filing of Form CP204 AND CP204A For the purpose of tax administration, the IRB has confirmed that SMEs are still required to submit the Form CP204 within the stipulated deadline but without any estimate of tax payable. Furthermore, the IRBM has announced that companies are required to furnish Form CP204 and CP204A via e-Filing with…
Tax Filing Programmes for Income Tax Return in the Year 2016 The Inland Revenue Board has issued a filing programme for Income Tax Return Forms in the year 2016. Here’s some quick information for tax payers. What’s my deadline for filing taxes? Which form do I fill? 30 April 2017 for individuals without business…
Update on GST and commercial property in Malaysia Do you know that you need to register for GST when investing in commercial property? It is a crucial step in your investment roadmap. However, some investors might forget to include GST into their budget and this is a big mistake- because the figures involved can be…