30 April 2020
Tax & Customs Matters During Movement Control Order (“MCO”) Period
As the MCO period in Malaysia has been extended, the Inland Revenue Board (IRB) has published an updated list of Frequently Asked Questions (FAQ) on tax matters arising during the MCO period. For the updated FAQ (as at 21 April 2020), please refer to:
http://lampiran2.hasil.gov.my/pdf/pdfam/faq_2.pdf .
Similarly, the Royal Malaysian Customs Department (“RMCD”) has also issued a list of FAQs on customs matters arising during the MCO period. For the updated FAQ (as at 7 April 2020), please refer to https://tinyurl.com/yaeha5gl.
Further, the RMCD also issued announcements pertaining to:
i. payment of taxes due during MCO period:
ii. application for review during MCO period:
Income Tax
The following practice note has recently been published on the IRB’s official website:
• Practice Note No. 2/2020 on Claiming Capital Allowance on the Development Cost for Customised Computer Software under the Income Tax Rules 2019 issued on 16 March 2020.
Service Tax
The following policies have recently been published on RMCD’s MySST website:
i. Specific Guide on Digital Services by Foreign Service Provider (FSP) (Registration, Return & Payment) (as at 30 March 2020); and
ii. Service Tax Policy on Service Tax Exemption on Provision of Digital Services Related to Banking/Financial Services (Service Tax Policy No. 10/2020) issued on 17 April 2020
For further information, please contact:
Abhilaash Subramaniam, Shearn Delamore & Co
abhi@shearndelamore.com
