Tax Espresso

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Tax Espresso

September 2021

The Tax Espresso is our monthly newsletter covering the latest tax updates.

In our September 2021 issue, we cover the following topics: 

  1. LFSA Circular on Additional Temporary Regulatory Relief Measures for Labuan Entities
  2. PR 4/2021: Taxation of Income Arising from Settlements
  3. Stamp Duty (Exemption) (No. 6) Order 2021 [P.U.(A) 328/2021]
  4. Stamp Duty (Exemption) (No. 7) Order 2021 [P.U.(A) 329/2021]
  5. Stamp Duty (Exemption) (No. 8) Order 2021 [P.U.(A) 333/2021]
  6. Stamp Duty (Exemption) (No. 9) Order 2021 [P.U.(A) 334/2021]
  7. Parkwood Palms Sdn Bhd v Pemungut Duti Setem (HC)
  8. Opus International (M) Berhad v KPHDN (HC)
  9. Tropical Land Property Sdn Bhd v KPHDN (HC)
  10. MW Park Sdn Bhd v Collector of Stamp Duties (HC)
  11. Ku Ek Mei v Pemungut Duti Setem, UTC Johor Bahru (COA)

Get to know the latest updates by downloading a copy of the Tax Espresso newsletter on the right!

 

Click the links below to view the Tax Espresso archive:

Awards

International Tax Review Asia Tax Awards 2021

In the recently announced International Tax Review (ITR) Asia Tax Awards 2021, Deloitte Malaysia has won two ITR awards.

For the fourth time in the last 5 years, we have been named the coveted Malaysia Tax Firm of the Year. We were also recognised as the Malaysia Transfer Pricing Firm of the Year for 2 consecutive years. These achievements showcase the strengths of Deloitte’s long-standing capabilities in the areas of Tax and Transfer Pricing. The standard of excellence consistently attained by our Tax practice is made possible with formidable support of the entire Firm where everyone across all businesses work collaboratively.

To all our valued clients, thank you for the trust and confidence you place in us as your advisors and partners. We look forward to continuing this partnership with you, especially during this challenging period.

Publications

Tax audits

Opening principles and understanding endgames

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All eyes on unexplained extraordinary wealth

Capital statement as a defence?

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Media Coverage

The Edge – Deloitte Malaysia supports reintroducing GST

Three years after the Goods and Services Tax (GST) was abolished in Malaysia, the country is now back at the juncture of organisations asking for the tax to be reintroduced. Deloitte Malaysia Indirect Tax Executive Director, Senthuran Elalingam said it is important that the reasons for implementing tax reforms are adequately discussed so that there is adequate awareness of the need for change and the benefits.

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Similar news in: New Straits Times

The Star – Options for bringing back the GST

Governments the world over have expended significant capital in the fight against COVID-19 and will have little choice but to expand their tax base. Reintroducing the GST would remove all current challenges posed by the sales tax and service tax (SST) and would give the government a lot more scope to widen the tax base, shared Senthuran Elalingam, Indirect Tax Executive Director of Deloitte Malaysia.

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The Sun Daily – Transfer pricing as a career in Malaysia

Mabel Tan Chih Chean, Transfer Pricing Assistant Manager in Deloitte Malaysia shares that transfer pricing specialists are needed in both consulting firms and multinational companies with their own in-house transfer pricing team in the private sector. A transfer pricing consultant provides value to their clients in three distinct ways: (1) ensuring compliance with transfer pricing guidelines, (2) providing guidance in planning and optimising transfer pricing policies, and (3) assisting with dispute resolution.

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Astro Awani – Should we reintroduce GST?

As governments across the world expended significant capital to fight the pandemic, Deloitte Malaysia's Senthuran Elalingam, Indirect Tax Executive Director believes the reintroduction of GST may be beneficial to address fiscal imbalance.

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The Edge – Expected shortfall in govt revenue calls for tax system reforms, raising statutory debt limit

Deloitte Malaysia Tax Leader, Sim Kwang Gek pointed out that the introduction of the Tax Compliance Certificate (TCC) as a pre-condition for tenderers to participate in government procurement should improve the level of tax compliance among taxpayers. She said this is not uncommon and has been practised in some countries such as South Africa and Ireland.

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Contact our Tax team if you need assistance.

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