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Tax Espresso
May 2023
The Tax Espresso is our monthly newsletter covering the latest tax updates.
In our May 2023 issue, we cover the following topics:
- Synthesized Texts of Malaysia’s DTAs with Australia, Ireland, Romania, and South Africa and their modifications made by MLI
- CGSB v Director General of Inland Revenue (DGIR) (SCIT)
- DGIR v SAP Malaysia Sdn Bhd (HC)
- SUSB v DGIR (SCIT)
- WWSB v Ketua Pengarah Hasil Dalam Negeri (KPHDN) (SCIT)
- SALK v DGIR (SCIT)
- KPHDN v Pulau Pinang Clinic Sdn Bhd (HC) [(2022) MSTC 30-516]
- NPC Resources v KPHDN (HC) [(2022) MSTC 30-515]
- Government of Malaysia v Innoapps Sdn Bhd (HC) (2022) MSTC 30-492
Get to know the latest updates by downloading a copy of the Tax Espresso newsletter on the right!
Deloitte Malaysia is recognised as Malaysia Tax Firm of the Year 2022 by the International Tax Review. As the country’s leading tax expert, we hold various tax events and workshops, in addition to participating in speaking engagements at tax seminars.
Special Alerts:
Guidelines on Transition of MSC Malaysia Status Company to Malaysia Digital Status
Top Cross-Border Tax Issues To Watch Out For In 2023
Revised Guidelines issued on Tax Treatment of Foreign Source Income received in Malaysia
Guidelines issued on Tax Treatment of Foreign Source Income received in Malaysia
Foreign Sources of Income – Exemption Orders
Malaysia’s Direction on Global Minimum Tax (GMT) and BEPS 2.0
Awards
International Tax Review Asia Tax Awards 2022
In the recently announced International Tax Review (ITR) Asia Tax Awards 2022, Deloitte is named Malaysia Tax Firm of the Year 2022.
This is the fourth consecutive year and the fifth time we’ve been recognised with this prestigious award, in the last 6 years. This reinforces our strong position as a trusted tax advisor in the marketplace.
To all our valued clients, thank you for your continuous support. We are determined to continue building our expertise to provide comprehensive and practical solutions in the evolving tax landscape. We look forward to growing our partnership with you.
Media Coverage
Sin Chew Daily – Is Malaysia a suitable location for digital nomads?
With the rise of digital nomadism, countries around the world are issuing visas to attract foreign nomads. Chee Ying Cheng, Global Employer Services Executive Director of Deloitte Malaysia stated that the global tax collection system will become more complicated with the increase of digital nomads. "Not all policies have to be arranged before DE Rantau attracts digital nomads, but these issues have to be looked at now,” she said.
Click here to view.
The Edge – Modernising the sales and service tax (SST)
Senthuran Elalingam, Executive Director of Deloitte Tax Services, addresses the challenges faced with the SST and proposes measures to modernise the system. He highlights critical areas that need to be addressed to maintain Malaysia’s competitiveness in the region, including export challenges, cohesion between the sales and service tax, and supply chain improvements.
Click here to view.
Upcoming Events
Malaysia’s digital switch to e-Invoicing
17 May 2023
The Inland Revenue Board of Malaysia (IRB) aspires to oversee the country’s shift from traditional to electronic means of issuing invoices. The pilot implementation of the Electronic Invoicing (e-Invoicing) system is targeted for the first half of 2023, while the mandatory implementation is targeted to begin in June 2024 for businesses with annual sales turnover threshold of RM100 million.
Ahead of the full implementation, what should organisations know about e-Invoicing to best prepare for the switch? What best practices and hard lessons can they pick up from other countries that have transitioned to e-Invoicing?
Join us as our tax experts from Deloitte will address these questions in this webinar.
Click here to register.
Budget opportunities & guide to taxation in Southeast Asia 2023 launch
19 May 2023
In collaboration with China Enterprises Chamber of Commerce in Malaysia (CECCM) and Nanyang Siang Pau, the Chinese Services Group will host a seminar on opportunities brought by Malaysia’s 2023 Budget.
Click here to register.
Budget 2023 and investment environment for Chinese enterprises in Northern Malaysia
23 May 2023
Themed "Developing Malaysia MADANI", the latest iteration of the Malaysian Budget 2023 (announced on 24 February 2023) represents the first budget under the new unity government. The Budget focuses on measures to stimulate economic recovery, enhance tax revenue, improve governance, and provide for the people.
What should businesses know about this new Budget to best capitalise on and reap its benefits? What is the investment landscape in Malaysia, especially in the northern region? How will this new Budget affect foreign direct investments?
Join us at a complimentary seminar - “Budget 2023 and Investment Environment for Chinese Enterprises in Northern Malaysia” in Penang, where we will discuss all these as well as share actionable insights.
Click here to register.
