5 Major Developments in Malaysia

5 Major Developments in Malaysia

• Malaysia Implementing e-Invoicing in Phases Beginning in 2024

• Proposed Roll-Out Timeline Of New E-Invoicing System

• Imposition of sales tax on imported low value goods sold online deferred again

• Malaysia Implements Special Voluntary Disclosure Programme 2.0

• Special voluntary disclosure program 2.0 available from 6 June 2023 to 31 May 2024

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Customs

• Overview of customs duties order regarding goods covered under CPTPP

E-Commerce / Electronic Services

• Imposition of sales tax on imported low value goods sold online deferred again

• Imposition of sales tax on low value goods imported into Malaysia

• Imposition of sales tax on low value goods imported into Malaysia

• Sales Tax on imported Low value Goods

E-invoicing

• Implementation of electronic invoicing (e-invoicing), voluntary disclosure program, and effective date for sales tax on “low-value goods”

• Malaysia Implementing e-Invoicing in Phases Beginning in 2024

• Malaysia will introduce a countrywide e-invoicing mandate from June 2024

• Malaysia to Introduce Electronic Invoicing Staged Implementation

• Proposed Roll-Out Timeline Of New E-Invoicing System

• Malaysia introduces country-wide e-invoicing mandate

• Malaysia Phased e-Invoicing Implementation Proposed Timeline

• Malaysia to introduce e-invoicing in 2024

• Mandatory E-Invoicing June 2024

• Timeline proposed for rollout of e-invoicing

Exemption

• Imposition of sales tax on imported low value goods sold online deferred again

• Guideline on the application for import duty and sales tax exemption on studio filming and production equipment

• Postpones imposing Sales Tax on Low-Value Imports

Implementation / Reform

• Malaysia Implements Special Voluntary Disclosure Programme 2.0

• Luxury goods tax not alternative to GST, says MOF

Importation

• Implementation of electronic invoicing (e-invoicing), voluntary disclosure program, and effective date for sales tax on “low-value goods”

• Imposition of sales tax on imported low value goods sold online deferred again
• Imposition of sales tax on low value goods imported into Malaysia
• Sales Tax on imported Low value Goods
• Postpones imposing Sales Tax on Low-Value Imports

Invoice

• Tourism tax regulatory updates (April 2023)

Legislative Change

• New Sales Tax On The Horizon: Not An April Fools’ Joke!

Reporting / Compliance

• Malaysia Implements Special Voluntary Disclosure Programme 2.0

• Summary of Income and Indirect Tax Developments (May 2023)

Tax Authorities / Penalties

• Special voluntary disclosure program 2.0 available from 6 June 2023 to 31 May 2024

• Special Voluntary Disclosure Programme / Voluntary Disclosure Programme 2.0

• Malaysia Delays Launch Of New Indirect Tax Amnesty