Public Ruling 9/2020 - Taxation of Trusts
Public Ruling 10/2020 - Reinvestment Allowance Part I (Manufacturing Activity)
Public Ruling 11/2020 - Reinvestment Allowance Part II (Agriculture and Integrated Activities)
Public Ruling 12/2020 - Tax Incentive for Angel Investor
Revised Tax Audit Framework for Finance and Insurance
The IRB has issued an updated Tax Audit Framework – Finance and Insurance dated 18 November 2020 (“2020 Framework”). The 2020 Framework is effective from 18 November 2020 and revokes the Tax Audit Framework – Finance and Insurance dated 1 June 2015 (“2015 Framework”)
Stamp duty exemption in relation to Bank Negara’s Special Relief Fund for SMEs
The Stamp Duty (Exemption) (No.6) Order 2020 (Exemption Order) has been gazetted on 18 November 2020 and is effective from 1 June 2020.
Operational Guideline 4/2020 - Monthly tax deduction under Income Tax (Deduction from Remuneration) Rules 1994
The IRB has issued the above guideline to provide guidance on employers’ obligation in relation to monthly tax deduction.
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IRB to stop accepting tax payments by cheques delivered via mail or courier starting from 1 January 2021 In order to encourage the use of online payments, the Inland Revenue Board (IRB) has in its media statement dated 26 November 2020 announced that effective from 1 January 2021, it will no longer be accepting tax...
Welcome to our TaXavvy Budget 2021 Edition (Part 2) which brings you the key tax proposals of Budget 2021 from the Finance Bill which were not covered in the Budget Speech as reported in TaXavvy Budget 2021 Edition (Part 1).
This TaXavvy edition is prepared based on the Budget 2021 speech as announced on 6 November 2020. A follow-up edition will be issued to include key tax proposals from the Finance Bill after the Finance Bill is issued.
Updated public rulings, New technical guidelines, Income tax exemption in relation to the Employee Retention Programme, Updated Green Technology Incentives Guideline, Updated IRB FAQs
