In the 2020 Budget Speech, Finance Minister, Lim Guan Eng, announced the plan to merge the Special Commissioners of Income Tax (“SCIT”) and the Customs Appeal Tribunal (“CAT”) into the Tax Appeal Tribunal (“TAT”). This is being done with the aim to “improve efficiency of taxpayer appeals” and is targeted to come into effect in … Read more
At present, where a loan is a foreign currency loan, the stamp duty payable on the loan agreement is RM 5.00 for every RM 1,000.00 or part thereof but the total duty payable shall not exceed RM 500.00. It is proposed that this be increased to RM 2,000.00. This amendment is expected to come into … Read more
Finance Minister, Lim Guan Eng, in tabling Budget 2020 in Parliament, said that to “enhance the RPGT treatment”, the base year for real property gains tax will be revised to 1 January, 2013. When the 0% real property gains tax for disposal in the sixth year or thereafter was removed earlier this year, provisions were … Read more
Malaysia joined the Madrid System as its 106th member on 27th September 2019, when the Government of Malaysia deposited its instrument of accession to the Madrid Protocol with the Director General of the World Intellectual Property Organization (WIPO). The Madrid Protocol will come into force in Malaysia on 27th December 2019, if the new Trademarks … Read more
For the 6th year running, Chong Kok Seng has written the Malaysian chapter on Aviation law in The Aviation Law Review, with Chew Phye Keat contributing the segment on Malaysian Competition law in regard to Aviation. Click here for the latest edition.
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The Royal Malaysian Customs Department recently released Minutes of Meeting No. 1/2018 of the Technical Committee on Sales Tax and Service Tax Implementation Issues. One of the issues raised at the meeting was the taxability of disbursements and reimbursements. Service tax is charged and levied by reference to the value of taxable service. The Royal … Read more
The issue of the degree of control exercised on an independent contractor was recently considered by the Industrial Court in the case of Noor Asilah Binti Abdull Rahman v Columbia Asia Sdn Bhd (Award No. 2019/2019). The Claimant, Noor Asilah binti Abdull Rahman had entered into a Resident Consultant Agreement (“Consultant Agreement”) with Columbia … Read more
The Inland Revenue Board recently uploaded its revised Guidelines on Taxation of Electronic Commerce Transactions on its website. The Guidelines can be downloaded here. As there are currently no specific provisions under the Income Tax Act, 1967 governing taxation of electronic commerce transactions, the Inland Revenue Board seeks to provide some guidance on the income … Read more