Malaysia: Summary of income and indirect tax developments (April 2024)
A monthly summary of tax developments that covers income tax, indirect tax, individual (personal) tax, and electronic invoicing (e-invoicing).
Summary of income and indirect tax developments
The KPMG member firm in Malaysia prepared a monthly summary of tax developments that covers income tax, indirect tax, individual (personal) tax, and electronic invoicing (e-invoicing).
Income tax
- Amendment Bills 2024 passed at Dewan Negara
- Extension of incentives for provision of fund management services
- Practice Note No. 1/2024 – tax treatment on recognition of actual gross profit or loss from a construction contract
- Malaysian Investment Development Authority’s guidelines and procedures for tax incentive of aerospace industry
- Bill number for Labaun tax payment
Indirect tax
- Service tax policy
- Customs (Prohibition of Exports) (Amendment) Order 2024
- Revised guides
Individual (personal) income tax
- Operational Guideline No. 2/2024 – application procedure for tax clearance letter for individuals
E-invoicing
- MyInvois testing environment
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