TaXavvy Issue 34/2024
Finance Act 2024 and other tax acts gazetted.
TaXavvy Issue 12/2024
In this issue:
Guidelines for Capital Gains Tax (CGT) on Foreign Capital Assets
The Income Tax (Exemption) (No. 3) Order 2024 was gazetted on 4 March 2024 to provide exemption from CGT on gains arising from disposal of foreign capital assets received into Malaysia. The exemption is subject to conditions to be imposed by the Minister under guidelines to be issued by the Inland Revenue Board (IRB).
The IRB has now issued the Guidelines on Tax Treatment on Gains From the Disposal of Foreign Capital Assets Received from Outside Malaysia dated 27 March 2024 (“Guideline”).
In addition to conditions for the exemption, the Guideline also explains the tax treatment on gains from the disposal of foreign capital assets received in Malaysia by a resident.
This issue of the TaXavvy covers:
- Overview of CGT
- Highlights from the Guideline
TaXavvy is a newsletter issued by PricewaterhouseCoopers Taxation Services Sdn Bhd. While every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PricewaterhouseCoopers Taxation Services Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
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TaXavvy Issue 33/2024
This issue dives into the Updated real property gains tax exemption guidelines for transfer of assets, Filing program for specified documents through MITRS, Stamp duty exemption for SMEs financing instruments and Tax incentive for equity crowdfunding.
TaXavvy Budget 2025 Edition [Finance Bill 2024]
Welcome to our TaXavvy Budget Edition [Finance Bill 2024] which brings you the key tax proposals of Budget 2025 based on the Budget speech as announced by the Prime Minister and Finance Minister, YAB Dato' Seri Anwar bin Ibrahim on 18 October 2024.
TaXavvy Issue 32/2024
This issue dives into the Guideline on application for green technology tax incentives, Accelerated Capital Allowance for ICT equipment and computer software and Tax incentive for hydrogen sulfide projects.
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