Malaysia: Summary of income and indirect tax developments (September 2022)

A monthly summary of tax developments that includes a discussion of income and indirect tax developments

A summary of income and indirect tax developments

The KPMG member firm in Malaysia prepared a monthly summary of tax developments [PDF 3.2 MB] that includes a discussion of the following income and indirect tax developments:

  • The Malaysian Inland Revenue Board (MIRB) revised guidelines for the tax deduction for expenses in relation to secretarial fees and tax filing fees effective from year assessment (YA) 2022
  • MIRB’s guidelines on tax treatment of digital currency transactions
  • MIRB’s revised guideline for restriction on deductibility of interest – earning stripping rules
  • Concession to submit and remit withholding tax of small value on recurring transactions
  • MIRB’s updated frequently asked questions (FAQs) on Section 107D withholding tax deducted by companies on payments made to resident individual agents, dealers or distributors (ADDs)
  • Extension of time for filing of YA 2022 income tax return for Labuan entities
  • Implementation of the FATCA and common reporting standard (CRS)
  • Amendment to service tax policy 1/2022 – service tax exemption on provision of digital payment services by local non-bank providers
  • Sales tax policy 2/2022 – export drop shipments
  • Sales tax (exemption from registration (amendment) order 2022
  • Revised guide – sales tax exemption under Schedule C


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