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Malaysia: Summary of income and indirect tax developments (October 2024)

Monthly summary of tax developments covers income tax and indirect tax

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October 9, 2024

The KPMG member firm in Malaysia prepared a monthly summary of tax developments that covers income tax and indirect tax.

Specifically, the report outlines:

  • Green technology tax incentives
  • Tax incentives for the Forest City special financial zone
  • Stamp duty exemption for independent smallholder oil palm replanting incentive program
  • Amendments to a public ruling granting an exemption from sales tax for certain manufacturing aids
  • Indirect tax amendments
  • Income Tax (Issuance of Electronic Invoice) Rules 2024 effective October 1, 2024
  • Updated guidelines on electronic invoicing (e-invoicing)

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