TaXavvy Issue 25/2024

In this issue:

FAQ on implementation of Global Minimum Tax

The Inland Revenue Board (IRB) has issued an updated FAQ on implementation of Global Minimum Tax in Malaysia.

FAQs on implementation of e-Invoice

The IRB has updated the following FAQs in relation to e-Invoice:

  • General FAQ for the implementation of e-Invoice 
  • FAQ on the implementation of e-Invoice for the aviation industry

Extension of tax exemption on shipping profits

The Income Tax (Exemption for Malaysian Ship) Order 2024 providing tax exemption on shipping profits has been gazetted.

Operational Guideline No. 3/2024 - Procedure on Submission of Amended Return Form

The IRB has recently issued its Operational Guideline No. 3/2024 - Procedure on Submission of Amended Return Form which revokes the Operational Guideline No. 1/2020 - Procedure on Submission of Amended Return Form.

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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