Tax Espresso    

Awards

International Tax Review Asia-Pacific Awards 2024

In the recently announced International Tax Review (ITR) Asia-Pacific Awards 2024, Deloitte has been recognised with 4 awards in Malaysia!

Deloitte Malaysia has been recognised in the following categories:

• Tax Advisory Firm of the Year

• Transfer Pricing Advisory Firm of the Year

• Indirect Tax Advisory Firm of the Year

• Tax Disputes Advisory Firm of the Year
  

This marks an incredible milestone in our journey as a firm, further reinforcing our strong position as a trusted tax advisor in the local and regional marketplace.

'Compliance to boost competitiveness'

Deloitte Southeast Asia's International Tax Leader, Tan Hooi Beng, discussed the potential impact of Malaysia's implementation of the Global Minimum Tax (GMT) law, which aims to be completed in Q3 2025. "With GMT of 15 per cent, the efficacy of tax incentives may be affected. The new low tax of the world will probably be 15 per cent. Hence, tax may not necessarily be the key factor for FDIs. Rather, other non-fiscal factors in which Malaysia has an edge, such as adequacy of land, political stability, abundance supply of workforce at all levels, among others, will be critical," he shared.

Click here to view the article.

Media Coverage

The Edge – Budget 2025: Deloitte Malaysia’s perspectives

Following the Budget 2025 announcement on 18 October 2024, Deloitte Malaysia’s tax leaders shared insights into what the proposed incentives will mean for Malaysian taxpayers.

Click here to view the article.

BFM89.9 – Widening the revenue base with taxes

With the expected increase in the federal government’s revenue due to the increase in SST, Malaysia’s Country Tax Leader Sim Kwang Gek shared key insights into the list of new taxes introduced during the Budget 2025 announcement, including carbon tax, progressive SST, and personal tax reliefs. “The tax measures mentioned in Budget 2025 are baby steps towards achieving Malaysia’s goal of widening the tax base; however, to really move the needle, GST will need to be reintroduced sooner than later to reduce the country’s discrepancy in revenue between indirect and direct tax,” she said.

Click here to listen to the interview.


Nanyang Siang Pau – Tax experts: The expansion of SST is expected to increase taxes by 5.8 billion

Tham Lih Jiun, Chinese Services Group Tax Leader shared post-Budget 2025 highlights. “As opposed to other countries that practice the deduction of taxes before paying dividends, Malaysia has proposed the imposition of a 2% dividend tax on dividend income over RM100,000 is clearly aimed at high-income groups who receive a large amount of dividend income,” she shared.

Click here to view the article.

The Star – Integrated approach to public-private partnership key to achieving net-zero by 2050

Country Tax Leader Sim Kwang Gek, and Karina Mohamad Nor, Sustainability and Emerging Assurance Director, shared observations on the proposed ESG incentives following Budget 2025 tabling. “The announcement of Budget 2025 saw significant allocations towards narrowing the fiscal deficit of 3%, debt level below 60% of gross domestic product (GDP), cutting subsidies and bolstering the economy’s competitiveness and growth, with a predicted GDP increase of 4.5% to 5.5%,” they shared.

Click here to view the article.

The Edge – My Say: Global Minimum Tax regime may herald an end of tax holidays

International Tax Partner, Kelvin Yee, and International Tax Assistant Manager, Chew Chen Wah shared on the announcement of the New Investment Incentive Framework (NIIF). “The GMT implementation around the world has prompted MNE groups (including Malaysian-based MNEs and Malaysian operations of foreign-based MNEs) to reconsider the efficacy of tax incentives. It is thus crucial to analyse whether there is a need to renegotiate tax incentives granted or to replace them with non-tax incentives such as grants,” they stated.

Click here to view the article.

The Star – Clear guidelines and policies are needed to ensure successful rollout of the carbon tax

Country Tax Leader Sim Kwang Gek, and Karina Mohamad Nor, Sustainability and Emerging Assurance Director, shared about the potential actions that the government may consider to ensure the success of the carbon tax rollout. “We look forward to seeing a holistic review of the tax framework governing the EPR to support this initiative, such as considering a special tax deduction on EPR contribution and tax exemption, or enhanced allowances for qualifying waste management activities,” they shared.

Click here to view the article.

The Edge – Budget 2025 measures that prosper the rakyat

Global Employer Services Director Michelle Lai discussed key highlights of the recent Budget 2025 announcement that taxpayers should keep a close eye on in the coming year, including housing loan reliefs and incentives to encourage retirement planning. “Budget 2025 introduced a series of proactive measures which would support individuals and families to navigate the challenges of rising living costs and also promote long-term financial stability,” she noted.

Click here to view the article.

Brochures

Navigating incentives across Southeast Asia

Navigating the complex, ever-changing landscape can be challenging, but it offers significant benefits. Our guide provides the latest insights into Southeast Asia's local incentive landscape, whether you are a multinational expanding in the region or a local entrepreneur seeking growth opportunities.

Thought leadership

Deloitte Tax Tracks

Led by Deloitte Malaysia’s tax leaders, delve into the world of tax with our industry experts in a series of thought-provoking conversations on the latest trends and topics.