KUALA LUMPUR – The Inland Revenue Board (LHDN) has announced administrative changes regarding the submission of the 2% tax deduction by companies making payments to resident individual agents, dealers or distributors (ADDs) effective July 2022. In a statement on Saturday (July 9), the agency said payees are required to make a cumulative 2% tax deduction …
The Touch Points Strategy 1 : Overcoming COVID-19 Pandemic (RM4.02b) Raise the ceiling of the COVID-19 Fund, by RM20 billion, to RM65 billion. Increased allocation to stem the 3rd wave of COVID-19 for next year (RM1 billion) Purchase of reagent, Viral Transport Media and consumables specifically for usage in medical laboratories (RM475 million). PPE and …
As a plan to steer the country through these challenging times, the Malaysian government has taken an approach that is focused on 6 key steps: Resolve, Resilience, Restart, Recovery, Revitalize and Reform. The first stage of the plan was the implementation of the Movement Control Order (MCO) on 18 March 2020 almost 3 months ago. …
The Labuan Business Activity Tax (Exemption) Order 2020 (“Labuan Exemption Order”) has been gazetted on 2 June 2020 to exempt a Labuan entity carrying on a Labuan business activity related to pure equity holding, from complying with the requirement for an adequate number of full time employees in Labuan. The Labuan Exemption Order is deemed …
On 1st June 2020, the new provision, Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009 (Amendment 2018) on corruption offenses by commercial organisations comes into force. The date of enforcement was issued by the power of the Minister in the Prime Minister’s Department (Parliament and Law) Datuk Takiyuddin Hassan through the Federal Government …
