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Circulars

 

TITLE: IRBM's Media Releases and Statutory Order

DATE: 13/03/2019

13 March 2019
Circular No. 31/2019

TO ALL ACCOUNTANTS

IRBM's MEDIA RELEASES AND STATUTORY ORDER

1. MEDIA RELEASE PUBLISHED BY THE INLAND REVENUE BOARD OF MALAYSIA (IRBM) IN RELATION TO INCOME DERIVED FROM SINGAPORE
  On 11 March 2019, the IRBM published the Media Release which refer to a report in the Chinese newspaper that has caused confusion regarding basic questions of income derived from Singapore and tax residence status. Generally, income taxable under the Income Tax Act 1967 (the ITA) is income derived from Malaysia such as business or employment income. Therefore, income received from an employment exercised in Singapore is not liable to tax in Malaysia. This is because that income is not derived from exercising of an employment in Malaysia.

Please refer to the enclosed media release for more details which can be downloaded from the IRBM’s website at the link below:

http://lampiran1.hasil.gov.my/pdf/pdfam/IRBMMedia_10032019_INCOME_FROM_SINGAPORE_TAXABLE.pdf
   
2. MEDIA RELEASE PUBLISHED BY THE IRBM IN RELATION TO THE SPECIAL VOLUNTARY DISCLOSURE PROGRAMME (SVDP)
On 8 March 2019, the IRBM published the Media Release to inform that as of now, over 225,000 taxpayers have come forward in the first phase of SVDP which will end on 31 March 2019. Therefore, taxpayers are advised to grasp the opportunity offered and not to wait until the last moment.

Those who have made voluntary disclosures through SVDP for year of assessment 2017 and prior years of assessment, the IRBM will accept the declaration made in good faith and no audit or investigation will be carried out in the future for the period in which the declaration was made.

Please refer to the enclosed media release for more details which can be downloaded from the IRBM’s website at the link below:

http://lampiran1.hasil.gov.my/pdf/pdfam/IRBM_Media_08032019_NO_AUDIT_OR_INVESTIGATION_FOR_THOSE_TAKING_PART_SVDP.pdf
 
3. INCOME TAX EXEMPTION (NO 2) ORDER 2019_P.U.(A) 55/2019
  On 27 February 2019, the above-mentioned statutory order has been gazetted which states that the Minister exempts a qualified landlord who rents out his qualified residential property from payment of income tax in respect of 50% of his statutory income derived from the rental of the said residential property in the basis period for a year of assessment.

This order is deemed to have effect for the year of assessment 2018.

The stipulated conditions are stated in the said statutory order which can be downloaded from the e-Federal Gazette website at the link below:

http://www.federalgazette.agc.gov.my/outputp/pua_20190227_P.U.%20(A)%2055.pdf

Please be guided accordingly.

DR. NURMAZILAH DATO' MAHZAN
Chief Executive Officer

Description: IRBMMedia_10032019_INCOME_FROM_SINGAPORE_TAXABLE
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Format: PDF
Size: 375 KB

Description: IRBM_Media_08032019_NO_AUDIT_OR_INVESTIGATION_FOR_THOSE_TAKING_PART_SVDP
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Format: PDF
Size: 503 KB

Description: pua_20190227_P.U. (A) 55_Income Tax (Exemption) (No 2) Order 2019
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Format: PDF
Size: 552 KB