Malaysia | Income tax and Service tax (1)

Income tax

The following technical guideline has recently been published on the Inland Revenue Board’s official website:

• Guidelines on the Income Tax Treatment for Bank or Development Financial Institution which adopt Malaysian Financial Reporting Standard 9 — Financial Instruments — issued on 11 November 2021.

Service tax

The revised versions of the following industry guides have recently been published on the Royal Malaysian Customs Department’s MySST website: 

1. Guide on Credit Card & Charge Card (as at 26 October 2021) — to replace the earlier version dated 20 August 2018; and
2. Panduan Perkhidmatan Profesional (Malay version as at 31 October 2021) — to replace the earlier version dated 26 August 2018.