News about tax

KUALA LUMPUR (April 3): While former prime minister Datuk Seri Najib Razak has acknowledged that he has been slapped with an additional tax bill by the Inland Revenue Board (IRB), IRB's chief executive officer Datuk Seri Sabin Samitah (pictured) declined to comment or confirm the figures of the matter, saying that he's bound by the "secrecy provision".

  KUALA LUMPUR (March 5): Finance Minister Lim Guan Eng said yesterday Malaysia’s 2018 inflation at 1% versus 2017’s 3.

KUALA LUMPUR (Feb 20): Deputy Finance Minister Datuk Amiruddin Hamzah has been reported as saying that implementation of the Sales and Services Tax (SST) has not reduced the prices of goods.

KUALA LUMPUR (Jan 22): Finance Minister Lim Guan Eng clarified today that the Inland Revenue Board Of Malaysia's 2018 direct tax collection was based on taxation on income received during the year.

KUALA LUMPUR (Jan 21): Finance Minister Lim Guan Eng (pictured) said today Malaysia's 2018 Sales and Services Tax collection by the Royal Malaysia Customs Department amounted to RM5.

PETALING JAYA: The revised Real Property Gains Tax (RPGT) rates that took effect from Jan 1, 2019, may lead to quicker disposals upon the fifth year of holding period as there would be no motivation for longer term investment, said a tax expert.

KUALA LUMPUR (Jan 10): S P Setia Bhd said its wholly-owned subsidiary Setia Fontaines Sdn Bhd has been advised by solicitors that the latter's acquisition of five adjoining parcels of freehold land in Penang from Boustead Plantations Bhd should be exempted from the goods and services tax (GST), based on Malaysia's tax laws.

KUALA LUMPUR (Jan 3): The Ministry of Finance (MoF) refuted allegations that the government has been taxing petrol, pointing out that the total petrol and diesel subsidies for the first 11 months of 2018 amounted to RM4.

PETALING JAYA (Dec 31):  Malaysia’s revised Real Property Gains Tax (RPGT) rates that take effect from Jan 1, 2019, will dampen market sentiment and sales in the near term, according to industry players.

KUALA LUMPUR (Nov 27): The Federal Government is not planning to impose any tax on windfall profit, Finance Minister Lim Guan Eng said.