BDO Tax Buzz | December 2023

In this issue of Tax Buzz, we will highlight the key changes and updates on income tax rates for resident individuals, stamp duty on contract notes for sales of shares and various other tax incentives for individuals and corporates, amongst others.

This Tax Buzz issue contains pertinent information on:

INCOME TAX

Income Tax (Deduction from Remuneration) (Amendment) Rules 2023 [P.U. (A) 230/2023]
Income Tax (Deduction for Expenses in Relation to Listing on Main Market, ACE Market or LEAP Market of Bursa Malaysia Securities Berhad) Rules 2023 [P.U. (A) 235/2023]
Updated Guidelines on the Application Procedure for a Special Deduction in Respect of a Qualifying Research and Development Activity

TAX INCENTIVES

Relocation Tax Incentive for Manufacturing Business
Income Tax (For an Individual Resident Who is Not a Citizen and Holds C-Suite Position in an Approved Company) Rules 2023 [P.U. (A) 242/2023]
Principal Hub (“PH”) 2.0
Guidelines and Procedures for the Application of Tax Incentive for Manufacturers of Electric Vehicle (“EV”) Charging Equipment

STAMP DUTY

Stamp duty (Remission) (No. 3) Order 2023 [P.U. (A) 208/2023]
Loans Guarantee (Bodies Corporate) (Remission of Tax and Stamp Duty) (No. 2) Order 2023 [P.U. (A) 216/2023]
Loans Guarantee (Bodies Corporate) (Remission of Tax and Stamp Duty) (No. 3) Order 2023 [P.U. (A) 263/2023]

SERVICE TAX

Revised Industry Guides

OTHER NEWS

Updates on Special Voluntary Disclosure Programme 2.0 (“SVDP 2.0”)
Instalment Payments for Outstanding Taxes for Prior Years and Temporary Release of Travel Restriction
Mandatory Use of Tax e-Services
e-WHT for Withholding Tax Payment
Updated Forms for Sales Tax and Service Tax

For further information or discussions on any of the topics featured in this publication is needed, please contact our tax specialists and authors.