India imposes tax on online gaming
NEW DELHI: Indian government on Tuesday decided to impose a tax of 28 per cent on online gaming, horse racing and casinos, and they will be taxed on full face value, announced Indian Finance Minister Nirmala Sitharaman. In the meantime, the Goods and Services Tax (GST) Council exempted cancer drugs and satellite launch services provided […]
Tax cut for M40, tax rise for T20 likely under Budget 2023
KUALA LUMPUR: The Chartered Tax Institute of Malaysia (CTIM) does not anticipate any new tax to be introduced in the upcoming Budget 2023 but expects the government to maintain the two-percentage point (ppt) income tax cut for the middle-income group (M40) and 0.5-ppt tax rise for the high-income earners (T20) proposed in the previous budget. […]
Disruption in IRB tax system from Feb 17 to 19
KUALA LUMPUR: The Inland Revenue Board (IRB) tax system will experience service disruption due to the upgrading of electrical components of the system as part of efforts to enhance the quality of online tax services. In a statement today, IRB said the service disruption involves access to the HASiL system, including all types of e-services […]
Assemblyman expresses shock and disappointment
KUCHING: Batu Kitang assemblyman Lo Khere Chiang has expressed shock and disappointment over the rejection of an application for investment tax allowance from Sarawak Energy’s subsidiary Baleh Hydro Power Generation by then federal Minister of Finance, Lim Guan Eng in 2019. In a statement yesterday, Lo said he was shocked and disappointed that Lim had […]
India may cut import tax on palm oil
NEW DELHI: India may reduce its import tax on palm oil to reign in local consumer prices of cooking oil, according to an Indian media report. The government is mulling on lowering the effective duty on crude palm oil (CPO), soybean oil and sunflower oil to 24.75 per cent from the current 30.25 per cent, […]
IRB uploads Operational Guidelines No 3 Year 2021
LABUAN: The Inland Revenue Board (IRB) uploaded its Operational Guidelines No.3/2021 which explains the method of application for the Tax Completion Letter for Companies, Limited Liability Partnerships (LLP) and Labuan Entities (Labuan Companies and LLPs) on its official website as reference and guidelines for taxpayers. In a statement to Bernama today, the IRB said the […]
IRB opens counters for BPR appeals from today
KUALA LUMPUR: The Inland Revenue Board of Malaysia (IRB) will open the Government Special Assistance (BKK) counters from today (June 15) for appeals applications under Bantuan Prihatin Rakyat (BPR). IRB, in a statement today, said the counters would be opened from 8 am until 12 noon according to the working days for each state and […]
Taxpayers reminded to submit tax returns by May 15
KUALA LUMPUR: Individual taxpayers are reminded to submit their income tax return forms (BNCP) via e-filing by this Saturday (May 15). The Inland Revenue Board (IRB), in a statement today, said that individual taxpayers who only have one source of employment income, and have made monthly tax deductions (PCB), can choose not to submit a […]
IRB denies audit, investigation activities politically motivated
KUALA LUMPUR: The Inland Revenue Board (IRB) has denied the claim that the selection of cases for its enforcement action is politically motivated. The IRB in a statement today said its audit process or investigation on any individuals including politicians was solely conducted to ensure they abide by the country’s tax law. “The IRB does […]
Govt to ease digital tax burden
“It must be stressed that the digital tax is only imposed on services and not goods in order to create a fair competitive environment vis-a-vis the FSPs.” – Ministry of Finance KUALA LUMPUR: The government is implementing several measures to ensure service providers and local consumers do not face double taxation following the introduction of […]
