RSM Malaysia

RSM 2020 Budget Highlights

15 October 2019
The Honourable Finance Minister, Mr. Lim Guan Eng tabled the 2020 Budget on 11 October 2019. The theme for the 2020 Budget is “Driving Growth And Equitable Outcomes Towards Shared Prosperity”. This highlight looks into the key changes affecting your business or industries. The four thrusts anchoring the 2020 Budget are:-

Service Tax on Digital Services

23 September 2019
During the Budget 2019 speech on 2 November 2018, the Minister of Finance announced that Malaysia will look to broaden the scope of service tax to foreign service providers who provide digital services to consumers in Malaysia. The government proposed to implement the imposition of service tax on digital services on 1 January 2020.

Recent updates on Service Tax (September 2019 Edition)

30 September 2019
The Minister of Finance is scheduled to table the Budget 2020 in Parliament on 11 October 2019 and we foresee that there will be changes to the Sales Tax and Service Tax (“SST”) legislation. We will be update you on the significant changes of the Budget 2020 in our October 2019 edition.

Tax Alert (May 2019)

29 May 2019
The SVDP was first announced in the 2019 Budget and is a tax amnesty initiative by the Inland Revenue Board (IRB). SVDP is focused mainly on taxpayers who have overseas bank accounts as well as taxable income in Malaysia but not yet declared to the IRB.

Indirect Tax Update- January 2019

4 January 2019
The Royal Malaysian Customs Department (RMCD) has announced the following with effect from 1st January 2019: -

2019 Budget Highlights

7 November 2018
The Honourable Finance Minister, Mr. Lim Guan Eng tabled the 2019 Budget on 2 November 2018. The theme for the 2019 Budget is “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society”  This highlight looks into the key changes affecting your business or industries.