*Baker Tilly TaxSnaps | Service Tax Updates*
Following the announcements made in conjunction with the 2024 Budget proposals on the increment of Service Tax rate and expansion of taxable services, the related gazette Orders were issued recently.
Read on https://bit.ly/BakerTillyTaxSnaps_28Feb_2024
Following the announcements made in conjunction with the 2024 Budget proposals on the increment of Service Tax rate and expansion of taxable services, the related gazette Orders were issued recently.
Read on https://bit.ly/BakerTillyTaxSnaps_28Feb_2024
Wishing all our wonderful women who are making a difference everyday to the people around them, Happy International Women's Day.
#InspireInclusion
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#InspireInclusion
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*Baker Tilly Tax Snaps | CGT Updates*
More CGT updates - Income tax exemption order and CGT Guidelines have been issued recently.
Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_12Mar2024
More CGT updates - Income tax exemption order and CGT Guidelines have been issued recently.
Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_12Mar2024
*Baker Tilly Malaysia | ESG Strategies for Malaysian Businesses*
Join us on 4 April 2024 at 2pm for a complimentary webinar, where the speakers will touch on:
- the business value of embracing ESG
- assurance & tax incentives for ESG in Malaysia
- the benefits of reporting tools for sustainability goals.
Register here: https://bit.ly/4cdGJVf
Join us on 4 April 2024 at 2pm for a complimentary webinar, where the speakers will touch on:
- the business value of embracing ESG
- assurance & tax incentives for ESG in Malaysia
- the benefits of reporting tools for sustainability goals.
Register here: https://bit.ly/4cdGJVf
Azeus Convene
Driving Sustainable Growth: ESG Strategies for Malaysian Businesses | Convene ESG
Together with Novem and Baker Tilly, Convene ESG explores the business value of exploring ESG, assurance, and tax incentives for Malaysian businesses.
*Baker Tilly Malaysia | Capital Gains Tax & "Economic Substance*
More CGT updates – IRBM has recently issued guidelines on gains from disposal of foreign capital assets.
Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_9Apr2024
More CGT updates – IRBM has recently issued guidelines on gains from disposal of foreign capital assets.
Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_9Apr2024
Wishing you a Selamat Hari Raya.
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Wishing you a joy-filled Eid al-Adha! 🌙✨
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e-Invoice Illustrative Guide https://www.hasil.gov.my/media/iawfa2eu/e-invoice-illustrative-guide.pdf
The Inland Revenue Board of Malaysia (“HASiL”) has issued the following on the e-Invoice webpage https://www.hasil.gov.my/en/e-invoice/ of its website:-
General Frequently Asked Questions (FAQ) on the implementation of e-Invoice in Malaysia updated on 4 October 2024 which replace the FAQ issued on 1 October 2024.
https://www.hasil.gov.my/media/0xqitc2t/lhdnm-e-invoice-general-faqs.pdf
The updates (highlighted in blue in the FAQ) are in relation to the mandatory implementation date, import/export of goods or services and e-Invoice for Micro, Small, and Medium Enterprises (MSME) (highlighted in blue).
In the meantime, Income Tax (Issuance of Electronic Invoice) Rules 2024 https://shorturl.at/hA1dm has been gazetted on 30 September 2024. A key highlight on the mandatory implementation for companies with annual sales in excess of RM 100million which is now prescribed as 1 October 2024.
General Frequently Asked Questions (FAQ) on the implementation of e-Invoice in Malaysia updated on 4 October 2024 which replace the FAQ issued on 1 October 2024.
https://www.hasil.gov.my/media/0xqitc2t/lhdnm-e-invoice-general-faqs.pdf
The updates (highlighted in blue in the FAQ) are in relation to the mandatory implementation date, import/export of goods or services and e-Invoice for Micro, Small, and Medium Enterprises (MSME) (highlighted in blue).
In the meantime, Income Tax (Issuance of Electronic Invoice) Rules 2024 https://shorturl.at/hA1dm has been gazetted on 30 September 2024. A key highlight on the mandatory implementation for companies with annual sales in excess of RM 100million which is now prescribed as 1 October 2024.
*Baker Tilly Malaysia | Tax & Budget Webinar*
The Malaysia Budget 2025 is set to be unveiled on 18 October 2024. Do join us for our Baker Tilly Tax & Budget Webinar, co-hosted with Ambank Berhad, on *29 October 2024*.
Our Tax Specialists will be presenting pertinent highlights from the Budget 2025, as well as updates on various tax topics. We are also pleased to have Mr Anand Raj, Partner at Shearn Delamore & Co., share with us his experience in handling Tax Disputes.
The webinar will conclude with a panel of subject-matter specialists, which will be moderated by Ms Melissa Ong, News Anchor and TV Host at BernamaTV.
Click on the link below for more information, and to register!
https://www.bakertilly.my/2024-baker-tilly-tax-budget-webinar
The Malaysia Budget 2025 is set to be unveiled on 18 October 2024. Do join us for our Baker Tilly Tax & Budget Webinar, co-hosted with Ambank Berhad, on *29 October 2024*.
Our Tax Specialists will be presenting pertinent highlights from the Budget 2025, as well as updates on various tax topics. We are also pleased to have Mr Anand Raj, Partner at Shearn Delamore & Co., share with us his experience in handling Tax Disputes.
The webinar will conclude with a panel of subject-matter specialists, which will be moderated by Ms Melissa Ong, News Anchor and TV Host at BernamaTV.
Click on the link below for more information, and to register!
https://www.bakertilly.my/2024-baker-tilly-tax-budget-webinar
Baker Tilly Malaysia Tax & Budget Webinar.pdf
1019.8 KB
Baker Tilly Malaysia Tax & Budget Webinar.pdf
Baker Tilly TaxSnaps - 2025 Budget (1).pdf
1.6 MB
Baker Tilly TaxSnaps - 2025 Budget.pdf
*Baker Tilly Malaysia | Tax Snaps*
Following the 2025 Budget announcement on 18 October 2024, the Finance Bill 2024 was made available for first reading at Parliament recently. This edition of TaxSnaps covers certain selected key proposed amendments to the Income Tax Act 1967 (“ITA”), which were not covered in our earlier edition of the 2025 Budget Highlights.
Read on: https://bit.ly/BakerTillyTaxSnap27Nov2024
Following the 2025 Budget announcement on 18 October 2024, the Finance Bill 2024 was made available for first reading at Parliament recently. This edition of TaxSnaps covers certain selected key proposed amendments to the Income Tax Act 1967 (“ITA”), which were not covered in our earlier edition of the 2025 Budget Highlights.
Read on: https://bit.ly/BakerTillyTaxSnap27Nov2024
Business & Tax Information Booklet
We are pleased to release the latest version of our Business & Tax Information Booklet, updated with the new legislative proposals and measures following the 2025 Malaysian Budget announcement.
Click on the link below for your copy.
https://bit.ly/BakerTilly_2024_2025_BusinessTaxInformation
We are pleased to release the latest version of our Business & Tax Information Booklet, updated with the new legislative proposals and measures following the 2025 Malaysian Budget announcement.
Click on the link below for your copy.
https://bit.ly/BakerTilly_2024_2025_BusinessTaxInformation
Baker Tilly Malaysia | TaxSnaps
The Inland Revenue Board of Malaysia (“IRBM”) issued the updated Transfer Pricing Guidelines 2024 on 24 December 2024, in connection with the amendments made to Section 140A, the introduction of Section 113B of the Income Tax Act (“ITA”) and the amendments made to the Transfer Pricing Rules 2023.
Here are pertinent updates: https://bit.ly/BakerTillyTaxSnaps_23Jan2025
The Inland Revenue Board of Malaysia (“IRBM”) issued the updated Transfer Pricing Guidelines 2024 on 24 December 2024, in connection with the amendments made to Section 140A, the introduction of Section 113B of the Income Tax Act (“ITA”) and the amendments made to the Transfer Pricing Rules 2023.
Here are pertinent updates: https://bit.ly/BakerTillyTaxSnaps_23Jan2025
e-Invoice Guideline Version 4.1 (updated on 28 Jan 2025)
Update on the listing of international organisations (in relation to persons exempted from issuance of e-invoice) under Appendix 3.
Link: e-Invoice Guideline Ver 4.1
https://www.hasil.gov.my/media/fzagbaj2/irbm-e-invoice-guideline.pdf
e-Invoice Specific Guideline Version 4.0
(updated on 28 Jan 2025)
Update on the following:-
- Expansion of type of transactions required for self-billed e-invoice with additional examples provided (Para 8)
- Expansion of exceptional situation allowing for issuance of consolidated self-billed invoices (Para 3.6.5)
Link: e-Invoice Specific Guideline Ver 4.0
https://www.hasil.gov.my/media/uwwehxwq/irbm-e-invoice-specific-guideline.pdf
e-Invoice General FAQ
(updated on 28 Jan 2025)
Please refer to the insertion of new FAQ highlighted in blue
Link: e-Invoice FAQ
https://www.hasil.gov.my/media/0xqitc2t/lhdnm-e-invoice-general-faqs.pdf
Update on the listing of international organisations (in relation to persons exempted from issuance of e-invoice) under Appendix 3.
Link: e-Invoice Guideline Ver 4.1
https://www.hasil.gov.my/media/fzagbaj2/irbm-e-invoice-guideline.pdf
e-Invoice Specific Guideline Version 4.0
(updated on 28 Jan 2025)
Update on the following:-
- Expansion of type of transactions required for self-billed e-invoice with additional examples provided (Para 8)
- Expansion of exceptional situation allowing for issuance of consolidated self-billed invoices (Para 3.6.5)
Link: e-Invoice Specific Guideline Ver 4.0
https://www.hasil.gov.my/media/uwwehxwq/irbm-e-invoice-specific-guideline.pdf
e-Invoice General FAQ
(updated on 28 Jan 2025)
Please refer to the insertion of new FAQ highlighted in blue
Link: e-Invoice FAQ
https://www.hasil.gov.my/media/0xqitc2t/lhdnm-e-invoice-general-faqs.pdf
Baker Tilly Malaysia | TaxSnaps
The Malaysian Income Tax Reporting System (MITRS) is an online platform designed to assist taxpayers in submitting specified information and documents for determining chargeable income and tax payable. The system is expected to be accessible to taxpayers starting from April 1, 2025.
Click the link to read more on the MITRS: https://bit.ly/BakerTillyTaxSnaps_17Feb2025
The Malaysian Income Tax Reporting System (MITRS) is an online platform designed to assist taxpayers in submitting specified information and documents for determining chargeable income and tax payable. The system is expected to be accessible to taxpayers starting from April 1, 2025.
Click the link to read more on the MITRS: https://bit.ly/BakerTillyTaxSnaps_17Feb2025
Baker Tilly Malaysia | TaxSnaps
The Inland Revenue Board of Malaysia had recently updated the e-Invoicing guidelines and FAQs. These guidelines and FAQs were updated twice in the past few weeks.
Please read on here, the pertinent e-Invoicing updates: https://bit.ly/BakerTillyTaxSnaps_28Feb2025
The Inland Revenue Board of Malaysia had recently updated the e-Invoicing guidelines and FAQs. These guidelines and FAQs were updated twice in the past few weeks.
Please read on here, the pertinent e-Invoicing updates: https://bit.ly/BakerTillyTaxSnaps_28Feb2025