Submission of Individual Annual Tax Return (“Form BE and Form M”) Year of Assessment 2025 The annual income tax return for individuals, i.e. the Form BE and Form M, for the Year of Assessment (“YA”) 2025 must be completed and submitted to the Inland Revenue Board (“IRB”) by 30 April 2026. Failure to submit the […]
Malaysia Stamp Duty: Types and Tax Treatment
Introduction Malaysia stamp duty is a tax imposed on written instruments rather than transactions. Governed by the Stamp Act 1949, it applies to legal, commercial, and financial documents. The person liable to pay is determined by the Third Schedule of the Act. Types of Stamp Duty Fixed Duty Fixed duty is charged without considering the […]
Enhanced AIE Malaysia: Tax Incentives for Exporters
Introduction Enhanced AIE Malaysia provides powerful tax incentives for exporters who achieve significant growth, enter new markets, or receive excellence awards. Under the Income Tax Act 1967, companies can enjoy exemptions ranging from 30% to 100% of statutory income, helping reduce tax costs while boosting international trade. What is Enhanced AIE? Enhanced AIE is an […]
Malaysia Sole Proprietor & Partnership Tax: Basis Period, CP500 & Penalties
Malaysia Sole Proprietor & Partnership Tax: Basis Period, CP500 & Penalties Introduction If you run a sole proprietorship or partnership in Malaysia, you must understand how the Malaysia Sole Proprietor Partnership Tax works, including the basis period, CP500 instalments, and possible penalties under Section 107B of the Income Tax Act. 1. Basis Period for Sole […]
Malaysia Settlement Taxation
Introduction Under Malaysia settlement taxation, a settlor may create a settlement to transfer income or assets for the benefit of another person, while retaining certain control or the power to revoke it. Such arrangements may be used for estate or wealth planning. However, under Section 65(11) of the Income Tax Act 1967, a “settlement” and […]
Commencement of Business & Pre-Operational Expenditure
Commencement of Business & Business Expenditure 1.Introduction Commencement of business is a critical concept in Malaysian tax. It determines when expenses become deductible and how companies should treat pre-operational costs. 2.Commencement of Business & Business Expenditure Pre-commencement expenses are generally not deductible. Qualifying Capital Expenditure (QCE) may be eligible for capital allowances once the business […]
Malaysia Business Income Tax: Advance Payments Explained
Malaysia Business Income Tax: Advance Payments Explained 1. Introduction When it comes to business income recognition in Malaysia, one key area involves the treatment of debts arising from services rendered or property use. This is governed under Section 24(1A) of the Income Tax Act 1967 (“ITA 1967”). The law has evolved over time, especially after […]
Malaysia Income Tax: Section 44 Donations and Deduction Limits
Malaysia Income Tax: Section 44 Donations and Deduction Limits 1.Introduction Malaysia Income Tax Section 44 provides deductions for donations and contributions made to the government, approved institutions, and specific organisations. The eligibility, limits, and forms of donation (cash or in kind) vary depending on the recipient. Understanding these rules helps taxpayers maximise tax benefits while […]
e-Invoicing: Transactions with Agents, Dealers, or Distributors
e-Invoicing: Transactions with Agents, Dealers or Distributors Who are agents, dealers or distributors in a business supply chain? The use of an agent, dealer or distributor are commonly seen in a business supply chain. An agent, dealer or distributor (i.e., a third party / intermediary) will earn commission on the sale of products or provision […]
电子发票指南: 代金劵 (Voucher) 需不需要开 e-Invoice？
电子发票指南: 代金劵 (Voucher) 需不需要开 e-Invoice？ 当我们赠送代金劵(Voucher)需不需要开电子发票？ 如果代金劵是免费送出的或是可退款性质的，并不需要开电子发票。但如果是不可退款的代金券，就需要开电子发票了。 对于已经到期的代金劵(Voucher)还需要开电子发票吗？ 如果是免费代金劵，或者之前售出且已经开过电子发票的不可退款代金劵，在过期后无需再开电子发票。 — 但是，如果是可退款的代金券，过期后就需要开电子发票 对于可退款的代金劵(Voucher)需要开电子发票吗? 是的, 在兑换可退款代金劵(Voucher)时, 需要开电子发票。由于这些代金券可以退款(之前没有开到电子发票), 需要确保发票上的“税前总额”与实际销售金额一致。 您可以选择将可退款代金券填写在“预付款”栏中，这项填写是可选的。 对于不可退款的优惠卷(Voucher)兑换时需要解开电子发票吗？ 也是需要的！ 由于这类优惠卷(Voucher)为不可退款性质（以前已开过电子发票），所以需要确保发票上显示的“税前总额”与使用代金券以外付款解决的销售金额一致。 不可退款代金券应单独列为发票里的单个项目。 对于‘购购送’代金劵 (Purchase-with-Purchase, 简称PWP)需要开电子发票吗？用这类代金劵付款的商品或服务需要开电子发票吗？ 如果购购送代金券是免费送出的，那么不需要为它开电子发票。 致于过期代金券和兑换代金券时的电子发票处理，请参考上文“代金券、礼品卡和积分”部分。 *注意，这些常见问题选项适用于“货币型代金券”（如礼品卡、代币、信用充值卡等）和“非货币型代金券”（如亮明可兑换特定商品或服务的代金券/优惠券）。 如何更加了解电子发票的机制与落实方案？ 你可以通过参考大马税务局（IRBM）发布的官方指南，进一步了解电子发票的机制和流程 下载 电子发票最新指南 (4.0)(发布于2024年10月4日) 下载 电子发票专属指南 (3.1)(发布于2024年10月4日) 参考 电子发票扩展指南 (更新于2024年9月11日) 你也可以考虑参与《电子发票战略课程》来获得详细与最新的资讯。 欲了解更多有关电子发票与课程详情，请点击此网址: ANCGroup_E-Invoice Courses Contact. ANC Group – Your Personal Tax Advisor Tax consulting is the core service […]
