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TaXavvy Issue 11/2025

In this issue:

 

Updated FAQs on the implementation of GMT

The Inland Revenue Board has issued the FAQs on Implementation of Global Minimum Tax (version 5.0), updated as at 11 April 2025. 

Tax exemption on employee benefits on care allowances

Following the announcement in Budget 2025, the Income Tax (Exemption) Order 2009 (Amendment) Order 2025 has been gazetted to amend the Income Tax (Exemption) Order 2009.

Expansion of increased exports incentive for qualifying services

Following the Budget 2025 announcement on the expansion of scope for the increased exports incentive for qualifying services, the Income Tax (Exemption) (No. 9) Order 2002 (Amendment) Order 2025 was gazetted on 14 April 2025.

Deduction for pre-petroleum agreement expenditure

The Petroleum (Income Tax) (Deduction for Pre-Petroleum Agreement Expenditure) Rules 2025 has been gazetted to provide deduction for qualifying pre-petroleum agreement expenditure incurred by persons carrying on petroleum operations. 

Labuan Amendment Acts

The following Amendment Acts were gazetted on 22 April 2025: 

  • Labuan Companies (Amendment) Act 2025 
  • Labuan Trusts (Amendment) Act 2025 
  • Labuan Foundations (Amendment) Act 2025 
  • Labuan Limited Partnerships and Limited Liability Partnerships (Amendment) Act 2025

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.

 

Download (PDF) TaXavvy Issue 11/2025

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