Malaysia: Summary of income and indirect tax developments (December 2023)

FAQs on e-invoicing for specific industries

FAQs on e-invoicing for specific industries

Article Posted date 15 December 2023

The KPMG member firm in Malaysia prepared a monthly summary of tax developments [PDF 2.7 MB] that includes the following.

  • The Finance (No. 2) Bill 2023 passed at the Dewan Negara. Read TaxNewsFlash for background on the bill.
  • The Malaysian Inland Revenue Board (MIRB) issued a practice note to clarify its position with respect to copyright and software payments made by distributors or resellers to non-residents who do not have a permanent establishment in Malaysia.
  • The Royal Malaysian Customs Department (RMCD) announced that the new implementation date for an excise duty on pre-mixed beverages will be 1 March 2024.
  • Applications for bus operators to be exempted from payments of sales tax on the purchase of locally assembled buses equipped with air conditioning will need to be submitted to the respective RMCD office (and not the Ministry of Finance Tax Division).
  • RMCD has issued guidelines for the application of the sales tax exemption certificate.
  • The effective date for charging and imposing sales tax on low-value goods has been gazette and published in the federal legislation with an effective date of 1 January 2024.
  • Certain RMCD incentive programs have been extended until 31 December 2023.
  • The MIRB issued “frequently asked questions” (FAQs) on electronic invoicing (e-invoicing) for specific industries.

 

 

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