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Following KLM’s extremely popular article, Malaysia’s Budget 2010, we’re bringing you new highlights of Malaysia’s 2011 Budget this year. For the year 2011, there are some notable changes that the Rakyat should look at. Personal & People’s Budget 2011 Exemption on sales tax for all Mobile Phones Service tax raised from 5% to 6% Service…

Goods and Services Tax in Malaysia At the end of 2009, Malaysia’s prime minister Datuk Seri Najib Tun Razak announced that a bill on the proposed introduction of Goods and Services Tax (“GST”) will be tabled at this year’s Budget 2010. Some indicated expectations about GST are as followed: GST is to be implemented from…

Recently, Malaysia’s Budget 2010 has created quite a bit of negative reactions within the public, especially the property people.  What has caused this reaction? Prior to 1 April 2007, Real Property Gains Tax (RPGT) has been in effect for quite some time already, and during that time, the RPGT rates are as follows: Duration between…

It is the duty of each and every company carrying a business license to properly & regularly update accounts and statements. Malaysia’s Income Tax Return Form (ITRF) is the document needed for each and every business (in this case, referred to as the “Taxpayer”) to the Inland Revenue Board of Malaysia, or LHDN Malaysia. Income…