Malaysia – Tax And Revenue Update.

9 October, 2019

 

Income tax

 

The following public ruling and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website:

 

1. Tax Treatment of Wholly & Partly Irrecoverable Debts and Debt Recoveries (Public Ruling No. 4/2019) issued on 24 September 2019;
2. Operational Guideline No. 4/2019 on Procedure on Submission of Amended Return Form (to replace Operational Guideline No. 3/2019 dated 22 April 2019); and
3. Guideline For Approval Of Director General Of Inland Revenue Under Subsection 44(6) of The Income Tax Act 1967 (to replace the Guidelines for Application of Approval under Subsection 44(6) of the Income Tax Act 1967 issued in January 2005).

 

Service tax

 

The following order and regulations have been gazetted on 30 August 2019 and have come into operation on 1 September 2019:

 

1. Service Tax (Imposition of Tax for Taxable Service in respect of Designated Areas and Special Areas) (Amendment) Order 2019;
2. Service Tax (Amendment) Regulations 2019; and
3. Service Tax (Compounding of Offences) (Amendment) Regulations 2019.

 

The Royal Malaysian Customs Department has also recently published the following Service Tax Policies on its MySST website:

 

1. Service Tax Policy on the Four Services which Implementation was Previously Postponed (Service Tax Policy No. 1/2019) dated 1 September 2019; and
2. Service Tax Policy on Services Imported into Designated Area Pulau Labuan (Service Tax Policy No. 2/2019) dated 1 September 2019.