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    The Tax-Related Measures of the Economic Stimulus Package 2020

    August 6, 2020

    Malaysia’s Economic Stimulus Package 2020 was launched by our Prime Minister on 27February 2020 to counter the economic effects to the country due to the ongoing COVID-19 outbreak. In the Stimulus Package, numerous initiatives were introduced to help affectedbusinesses and taxpayers.

    The Tax-Related Implications of the Movement Control Order

    August 5, 2020

    The Movement Control Order (MCO) was recently implemented by the MalaysianGovernment, which at the point of writing of this alert, covers the period from 18 March2020 to 31 March 2020. This in turn affected several administrative matters with the temporary closure of the office of the Inland Revenue Board (IRB) nationwide duringthis period.

    The Tax-Related Implications of the Movement Control Order (Update)

    As you are all aware, the Movement Control Order (MCO) was recently extended by the Malaysian Government, which at the point of writing of this alert, covers the period from 18 March 2020 to 14 April 2020.

    Movement Control Order – Updates to the Inland Revenue Board’s Announcements

    On 3 April 2020, the Inland Revenue Board (IRB) updated theirFrequently Asked Questions on tax matters during the MovementControl Order (MCO) period.

    Movement Control Order – Supplementary Stimulus Package For SMEs

    On 6 April 2020, our Prime Minister has announced a supplementary stimulus package valued at RM10 billion which is specially targeted to support small and medium enterprises (SMEs). SMEs are a key driver of the country’s economy which contribute to more than two thirds of total employment in the country and almost 40 percent to the economy.

    FAQ on Wage Subsidy Programme

    This Alert presents the Frequently Asked Questions (FAQ) about the enhanced Wage Subsidy Programme (WSP) which was announced on 6 April 2020 and replaces the previous programme announced on 27 March 2020.

    Movement Control Order Updates to the Inland Revenue Board’s Announcements (dated 10 April 2020)

    Our Prime Minister Tan Sri Muhyiddin Yassin had announced on 10 April, 2020 that the Movement Control Order (MCO)
    will be extended by another two weeks, from April 15 to April 28, to curb the spread of Covid-19.

    Re-Alert : Transfer Pricing Audit Framework & Requirements in Malaysia

    The 2012 TPG superseded the Guidelines previously issued in year2003, and was intended to provide detailed guidance to taxpayers onhow to comply with the requirements of the law under Section140A ofIncome Tax Act 1967 and the TP Rules 2012.

    Economic Stimulus Package 3.0 Special Deduction On Rental Reduction Offered To Small And Medium Enterprises Tenants

    In the supplementary stimulus package announced on 6 April 2020 which was targeted to support small and medium enterprises (SMEs), the Prime Minister urged owners of private business premises to provide rental reduction or waiver to tenants that consist of SMEs.

    0% Corporate Income Tax Rate up to 15 years For Foreign Direct Investment (FDI) into Malaysia

    0% corporate income tax rate up to fifteen (15) years for Foreign Direct Investment (FDI) into Malaysia.

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