23 December 2020
Income tax
The following public rulings, guideline and tax audit framework have recently been published on the Inland Revenue Board of Malaysia’s official website:
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Taxation of Trusts (Public Ruling No. 9/2020) issued on 6 November 2020;
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Reinvestment Allowance Part I — Manufacturing Activity (Public Ruling No. 10/2020) issued on 6 November 2020;
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Reinvestment Allowance Part II —Agricultural and Integrated Activities (Public Ruling No. 11/2020) issued on 10 November 2020;
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Tax Incentive for Angel Investor (Public Ruling No. 12/2020) issued on 17 November 2020;
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Garis Panduan Operasi – Potongan Cukai Bulanan Di Bawah Kaedah-Kaedah Cukai Pendapatan (Potongan Daripada Saraan) 1994 (available in Malay language only) — issued on 17 November 2020; and
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Tax Audit Framework on Finance and Insurance — issued on 18 November 2020.
Sales tax & service tax
The following Specific Guides have recently been published on the Royal Malaysian Customs Department’s MySST website:
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Guide on Return and Payment (as at 13 October 2020) – to replace the earlier version dated 29 September 2018; and
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Guidelines on SST-02 and SST-02A Return (Manual Submission) (as at 13 October 2020).
For further information, please contact:
Goh Ka Im, Shearn Delamore & Co
