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TaXavvy Issue 16/2019
In this issue:
Operational Guidelines GPHDN 5/2019 - Penalties
The Inland Revenue Board (IRB) has issued a new Operational Guidelines GPHDN 5 /2019 - Imposition of penalties under subsection 112(3) of the Income Tax Act 1967, subsection 51(3) of the Petroleum (Income Tax) Act 1967, and subsection 29(3) of the Real Property Gains Tax Act 1976, dated 16 October 2019.
The new guidelines is effective from 1 October 2019 and revokes Operational Guidelines GPHDN 1/2015 dated 5 March 2015, which only covered penalties under subsection 112(3) of the Income Tax Act 1967.
Guidelines for approval of Director General of Inland Revenue under Subsection 44(6) of the Income Tax Act 1967 - revised
The IRB has updated its guidelines dated 5 September 2019 by reinserting and amending appendices on the minimum spending condition which were previously removed.
TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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