On 29 October 2021, the Ministry of Finance (MOF) unveiled its Budget 2022. Please find highlighted the proposed amendments that relate to customs and international trade.
Malaysia – Budget 2022
Tag: Malaysia
Malaysia – GST 1 of January 2015
Please find attached a tentative draft GST Return and completion guidelines:
Malaysia – Goods and Services Tax Bill 2014
Further to the Prime Minister’s announcement on 25 October 2013, the Goods and Services Tax Bill 2014 (“the 2014 Bill”) was tabled in Parliament on 31 March 2014.
This issue of TaXavvy will consider some of the key changes set out in the 2014 Bill compared to the Goods and Services Tax Bill 2009 (“the 2009 Bill”).
For further details please follow the links below:
How to import goods in Malaysia – Guide on Import
All imported goods into Malaysia are subject to GST with exception of goods that are relieved from the payment under the Goods and Services Tax Order 20XX.
For details see Guide on Import issued by Royal Malaysian Customs:
Malaysia – introduction of GST on 1 of April 2015 at the rate of 6%
The Malaysian Prime Minister has announced that GST will be implemented in Malaysia on 1 April 2015 at the rate of 6% in his budget speech. The threshold for mandatory registration will be RM 500,000.
Income Tax rate will be reduced between 1 % to 3 %, effective from assessment year 2015. Corporate Tax rate will be reduced by 1% from 25% to 24% (SME rate from 20% to 19%) effective from assessment year 2016.Read More »
Michaela Merz 