- RMCD issued Service Tax Policy No. 7/2024 on 26 July 2024 regarding virtual credit cards
- Virtual credit cards not subject to service tax if certain conditions are met
- Service tax imposed on virtual credit cards issued without physical card or completely replacing physical card
- Deloitte comments on the impact of digital banks and e-wallets on virtual credit cards
- Updated guidelines clarify that virtual credit cards are treated the same as physical cards for service tax purposes
Source: www2.deloitte.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Malaysia"
- Malaysia Extends E-Invoicing Deadline for Small Businesses, Eases Rules Until End of 2026
- Malaysia Lowers Service Tax, Expands Exemptions for Rentals, Construction, and Key Inputs
- SUPP Dudong Chief Urges Federal Government to Reinstate GST for Stable Revenue, Lower Living Costs
- IRBM Issues e-Invoice Guideline Version 4.6: Expanded Consolidation, Grace Periods, and Clarifications
- Malaysia Updates Sales and Service Tax Policies for MSMEs and Manufacturers Effective January 2026
