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TaXavvy Issue 02/2024
In this issue:
Return Form Filing Programme for the Year 2024
The Inland Revenue Board (IRB) has issued the Return Form Filing Programme for the Year 2024.
Industry Specific FAQs on e-Invoice
The IRB has issued the following industry specific FAQs on e-Invoice:
- Implementation of e-Invoice in Malaysia FAQ for Telecommunication
- Implementation of e-Invoice in Malaysia FAQ for e-Commerce
- Implementation of e-Invoice in Malaysia FAQ for Petroleum Operations
GPHDN 1/2023 - Issuance of Tax Compliance Certificate for Government Procurement Application
The IRB has issued GPHDN 1/2023 - Issuance of Tax Compliance Certificate for Government Procurement Application dated 22 November 2023.
Gazette Orders for BioNexus Status Incentives
The following gazette orders in relation to BioNexus status incentives were gazetted (Budget 2021 measure):
- Income Tax (Exemption) (No. 4) Order 2023
- Income Tax (Exemption) (No. 5) Order 2023
- Income Tax (Exemption) (No. 6) Order 2023
MIDA - Green Technology Tax Incentives
Following the announcement in Budget 2024 of the reviewed Green Technology Tax Incentives, MIDA has made an announcement on the application for tax incentives for green projects for own consumption.
Guidelines for Tax Deduction for Sponsorship of Arts, Cultural and Heritage Activities
The Ministry of Tourism, Arts & Culture has recently published the updated Guidelines for Tax Deduction for Sponsorship of Arts, Cultural and Heritage Activities under Subsection 34(6)(k) of the ITA 1967 on its website.
Public Rulings
The IRB has issued the following new public rulings:
- Public Ruling No. 8/2023 - Tax Treatment for a Company that Establishes a Special Purpose Vehicle for the Issuance of Sukuk – Section 60I Income Tax Act 1967
- Public Ruling No. 9/2023 - The Deceased Part 1 - Introduction
- Public Ruling No. 10/2023 - Pioneer Status Incentive
Personal Tax Updates
The following in relation to individual tax matters have been issued:
- Income Tax (Exemption) 2009 (Amendment) Order 2023
- GPHDN 1/2024 - Monthly Tax Deduction under Income Tax (Deduction from Remuneration) Rules 1994
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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