TaXavvy Issue 17/2025

In this issue:

Single Family Office Scheme  

The Securities Commission has issued the following documents in relation to the Single Family Office Scheme: 

  • Single Family Office Incentive Scheme – An Introduction
  • Revised Frequently Asked Questions - Single Family Office Scheme 
  • Application Kit: Conditional Approval for Single Family Office Incentive Scheme  

Deduction for Environmental Preservation, Social and Governance (ESG) expenditure

Following the announcement in Budget 2024, the Income Tax (Deduction for Expenditure in relation to Environmental Preservation, Social and Governance) Rules 2025 has been gazetted. 

Labuan filing programme for the year of assessment 2025 

The Inland Revenue Board (IRB) has issued a filing programme for Labuan entities. 

Gazette order for the extended e-Invoicing implementation deadline

The Income Tax (Issuance of Electronic Invoice) (Amendment) Rules 2025 has been gazetted to legislate the extended e-Invoicing implementation deadline.  

The Rules are effective from 30 June 2025. 

GPHDN No. 1/2025 - Implementation of the Tax Compliance Certificate for Government Procurement 

The IRB has issued an operational guideline - GPHDN No. 1/2025 - Implementation of the Tax Compliance Certificate (TCC) for Government Procurement to explain the procedures and implementation of TCC. 

Withholding of tax in the case of deceased agents, dealers and distributors 

The IRB has issued a press release on 30 June 2025 to state that, with effect from 1 August 2025, the 2% withholding tax for payments to agents, dealers and distributors (ADD) will not apply in the case where the ADD is a deceased person. 

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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