1 March, 2018
Income tax
The Income Tax (Set-off for Tax Charged on Actuarial Surplus under Takaful Business) Rules 2017 have been gazetted on 26 December 2017 and are deemed to have effect from year of assessment 2015.
The Inland Revenue Board of Malaysia (“IRB”) has issued a new public ruling on Appeal Against An Assessment And Application For Relief (Public Ruling No 12/2017) on 29 December 2017 to replace Public Ruling No 7/2015 dated 22 October 2015.
Labuan tax
The Labuan Business Activity Tax (Country-by-Country Reporting) Regulations 2017 have been gazetted on 26 December 2017 and the information required to be reported under these regulations shall be from 1 January 2017.
Goods and Services Tax (“GST”)
The Royal Malaysian Customs Department (“RMCD”) has recently issued a new public ruling on Supply of Commercial Residential Premise (Public Ruling No 1/2018) on 11 January 2018.
The revised version of the Industry Guide on Lodging or Holiday Accommodation (revised as at 23 January 2018) has also been published on the RMCD’s GST website.
For further information, please contact:
Goh Ka Im, Partner, Shearn Delamore & Co
kgoh@shearndelamore.com
