TaXavvy Issue 34/2024
Finance Act 2024 and other tax acts gazetted.
TaXavvy Issue 27/2024
In this issue:
Updated e-Invoice guidelines
The Inland Revenue Board (IRB) has issued updated e-Invoice Guidelines (version 3.2) and e-Invoice Specific Guidelines (version 3.0), both dated 30 July 2024.
Updated Guidelines for Approval of the Director General of Inland Revenue for Institution / Organisation / Fund
The IRB has issued an updated Guidelines for Approval of the Director General of Inland Revenue (DGIR) under subsection 44(6) of the ITA 1967 for Institution / Organisation / Fund which replaces the previous version issued on 30 January 2020, as well as the Guideline for Approval of the DGIR under subsection 44(6) of the ITA 1967 for Welfare and Education Funds, issued on 15 July 2020.
Guidelines on Pengerang Integrated Petroleum Complex tax incentive
Further to the Budget 2024 announcement, the Malaysian Investment Development Authority has issued the following guidelines:
- Guidelines and procedures for the application of Pengerang Integrated Petroleum Complex (PIPC) tax incentive package for Industrial Park Developer.
- Guidelines and procedures for the application of the PIPC special incentive package for the manufacturing sector.
The PIPC is planned as a downstream oil and gas hub accommodating oil refineries, oil storage facilities and petrochemical product manufacturing plants.
Tax clearance letter and notification of new employee
The IRB had updated its e-Services page in respect of application for tax clearance letter and notification of new employee.
BioNexus incentives - extension
Following the proposal in the retabled Budget 2023 to extend the incentive for BioNexus status companies, the following amendment orders have been gazetted:
- Income Tax (Exemption) (No. 4) Order 2023 (Amendment) Order 2024.
- Income Tax (Exemption) (No. 5) Order 2023 (Amendment) Order 2024.
TIN registration for foreign entities for capital gains tax (CGT) reporting
The IRB has updated the CGT filing programme to explain Tax Identification Number (TIN) registration for foreign entities for CGT reporting purposes.
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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TaXavvy Issue 33/2024
This issue dives into the Updated real property gains tax exemption guidelines for transfer of assets, Filing program for specified documents through MITRS, Stamp duty exemption for SMEs financing instruments and Tax incentive for equity crowdfunding.
TaXavvy Budget 2025 Edition [Finance Bill 2024]
Welcome to our TaXavvy Budget Edition [Finance Bill 2024] which brings you the key tax proposals of Budget 2025 based on the Budget speech as announced by the Prime Minister and Finance Minister, YAB Dato' Seri Anwar bin Ibrahim on 18 October 2024.
TaXavvy Issue 32/2024
This issue dives into the Guideline on application for green technology tax incentives, Accelerated Capital Allowance for ICT equipment and computer software and Tax incentive for hydrogen sulfide projects.
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