Malaysia: Summary of income and indirect tax developments (November 2022)
Income and indirect tax developments
November 2022
The KPMG member firm in Malaysia prepared a monthly summary of tax developments [PDF 3.1 MB] that includes a discussion of the following income and indirect tax developments:
- The Malaysian Inland Revenue Board (MIRB) updated frequently asked questions (FAQs) on the special deduction of costs for renovation and refurbishment of business premises
- MIRB’s updated FAQs on Section 107D withholding tax deducted by companies on payments made to resident individual agents, dealers or distributors (ADDs)
- MIRB’s prescribed forms for submitting and remitting withholding tax of small value on recurring transactions
- MIRB’s guidance on tax treatment of dormant Labuan entities
- Incentives for approved food production projects
- Extension of full income tax exemption for Malaysian shipping companies
- Postponement of implementation of excise tax on premixed beverages
- Excise (amendment) regulations 2022
- Indirect tax amendment acts
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