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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 1
Newsletter title in this panel Newsletter subtitle
Newsletter title in this panel Newsletter subtitle
Newsletter title in this panel Newsletter subtitle
Highlights of Budget 2017 (Part II) Volume 19, Issue 23
26 October 2016
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Tax alert
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 2
Highlights of the Finance Bill 2016
Payments for services performed outside Malaysia now subject to withholding tax
Definition of royalty and public entertainer widened
Ensuring compliance with BEPS Action Plans vide penalties
s highlighted in Tax Alert No. 22/2016 (Highlights of Budget 2017 (Part I), the Finance Bill
2016 was not released on 21 October 2016 after the Budget 2017 Speech was delivered.
Instead, it was released on 26 October 2016. The Finance Bill 2016 proposes 26 amendments
to the Income Tax Act 1967 (ITA), three (3) amendments to the Petroleum (Income Tax) Act
1967 (PITA), two (2) amendments to the Real Property Gains Tax Act 1976 (RPGTA), two (2) amendments
to the Labuan Business Activity Tax Act 1990 (LBATA) and 23 amendments to the Goods and Services Tax
Act 2014 (GSTA). The Finance Bill 2016 (Finance Bill), however, did not include the proposed changes to
the Stamp Act 1949. It is expected that these changes will be addressed in a separate Bill.
To increase the Governments revenue collection, the Finance Bill has widened the derivation scope and
definition of selected activities. The proviso to Section 15A of the ITA that service income under
subsections 4(A)(i) and (ii) are deemed derived from Malaysia only when the services are performed in
Malaysia, has now been removed. With the removal of this proviso, service fees paid to non-residents
under subsections 4A(i) and (ii) of the ITA will now be subject to withholding tax at 10%, irrespective of
where such services are performed. This was, in fact, the position in Malaysia pre-September 2002. It is
quite a surprise that Malaysia has reverted to this stance that is somewhat contrary to the general
principles of determining the source of income.
The definition of royalty under Section 2 of the ITA has been extended considerably to include sums paid
as consideration for the use of or the right to use software, the reception of or the right to receive visual
images or sounds transmitted to the public by satellite, cable, fibre optic or similar technology, the use or
the right to use visual images or sounds in connection with television or radio broadcasting and the use of
or the right to use radio frequency spectrums. Certain forbearance payments would now also be classified
as royalty. Notwithstanding the proposed changes to domestic tax law, taxpayers would be reminded to
consider the availability of tax treaties, in particular, access to treaty definitions of royalty, given that
treaty definitions of royalty would prevail in event of a conflict between domestic law and tax treaty
royalty definitions. The definition of a public entertainer under Section 2 has also been considerably
widened to include, for example, lecturers and speakers.
Another interesting change introduced in the Finance Bill are the penalties introduced for failing to comply
with Mutual Administrative Assistance Arrangements, including country by country reporting. The purpose
of enacting these provisions is to ensure compliance with Action Plans proposed by the Organisation for
Economic Co-operation and Development (OECD) under its base erosion and profit shifting (BEPS)
initiatives. These penalty provisions and BEPS are discussed further under the Other significant changes
section. Other salient proposals that were not mentioned in the Budget Speech are also highlighted below.
Unless otherwise stated, the proposals below, when passed by Parliament, shall take effect from the year
of assessment (YA) 2017 and subsequent YAs. Note, however, that the above stated proposals take effect
from the coming into operation of the Finance Act 2016.
A
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 3
Personal income
tax changes
Highlights
Output tax borne by the employer is part of
gross employment income
Deduction for spouse tightened where
spouse derives foreign-sourced income
Output tax borne by the employer is part of gross employment income
During the introduction and implementation of the Goods and Services Tax (GST) in April 2015, there
may have been some confusion as to whether output tax borne by the employer under the Goods and
Services Act 2014 (GSTA) in respect of benefits provided to employees, should form part of the gross
employment income for taxpayers. The Finance Bill clarifies that output tax borne by the employer
under the GSTA shall be included as part of gross income from employment, which forms part of
taxable income. This proposed change applies retrospectively from YA 2015 onwards.
Deduction for spouse tightened where spouse derives foreign-sourced income
Presently, a resident spouse or a spouse who is a Malaysian citizen, is eligible for a deduction of
RM4,000 if any of the following criteria is fulfilled:
The taxpayers spouse has no source of income;
The taxpayers spouse has no total income which can be aggregated with the taxpayers income; or
An election has been made by the taxpayers spouse for a combined assessment
It is now proposed that the existing relief of RM4,000 will not apply if the spouse has income derived
from sources outside of Malaysia and the gross income from such sources exceeds the amount of
relief provided. This restriction is, however, not applicable if the spouse is disabled (Section 47(6) of
the ITA).
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 4
Corporate income tax changes
Highlights
Deduction on donations extended to include
approved funds; deductions to approved
sports activity restricted to cash
contributions
Exemption criteria of Real Estate
Investment Trust (REIT) or Property Trust
Fund streamlined
Tax exemption on interest income
tightened
Further developments on IBA claims for
buildings which are rented out
Limitations of claims for deductions for
companies with single-tier dividends
widened
Deduction on donations extended to include approved funds; deductions to approved sports activity restricted to cash contributions
Currently, a deduction (against aggregate income) is permitted for donations made to the
Government, a State Government, a local authority, an institution or organization approved under
Section 44(6) of the ITA.
It is now proposed that Section 44(6) be amended to also permit a deduction from the aggregate
income of a person, in respect of donations of money to a fund. The fund has to be administered and
augmented by an institution or organization in Malaysia for the sole purpose of carrying out the
funds objectives. The fund in this case cannot have been established or held primarily for profit.
The Finance Bill has, however, limited the scope of deduction to a sports activity/body. Currently,
both gifts of money or in kind to a sports activity approved by the Minister or to any sports body
approved by the Commissioner of Sports appointed under the Sports Development Act 1997 would
qualify for a tax deduction (Section 44(11B) of the ITA). It is now proposed that such donations must
be made in cash, in order to qualify for a deduction, i.e. donations in kind would no longer qualify for
a deduction.
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 5
Exemption criteria of Real Estate Investment Trust (REIT) or Property Trust Fund tightened
Currently, a unit trust fund which is approved by the Securities Commission (SC) as a REIT or Property
Trust Fund is exempt from tax if 90% or more of the total income of the unit trust is distributed to the
unit holders. The Finance Bill amends Section 61A(2) of the ITA such that only a unit trust approved
by the SC and listed on Bursa Malaysia is exempt from tax, where the 90% distribution threshold is
met. For a REIT/PTF which is not listed in Bursa Malaysia or a listed REIT/PTF which is subsequently
delisted, the total income at the REIT/PTF level is subject to tax prior to making its distribution to the
unit holder.
Tax exemption on interest income tightened
The Finance Bill has narrowed the ambit of certain categories of interest income which are exempt
from tax. Some of the exemptions that have been tightened are discussed below.
For example, currently, a company not resident in Malaysia is exempt from tax in respect of interest
received from securities issued by the Government or sukuk or debentures issued in Ringgit Malaysia,
other than convertible loan stock, approved or authorized by or lodged with the Securities Commission
(SC). This exemption is provided under Paragraph 33A, Schedule 6 of the ITA. Similarly, interest
income received by any person in respect of sukuk originating from Malaysia and issued in non-Ringgit
Malaysia, other than convertible loan stock and approved or authorized by or lodged with SC or
approved by the Labuan Financial Services Authority, is exempt from tax under Paragraph 33B,
Schedule 6 of the ITA. There is a proposal to introduce new subparagraphs to paragraphs 33A and
33B of Schedule 6, to narrow the ambit of this exemption such that the tax exemption will not be
applicable in the following scenarios:
Where interest is paid or credited to a company in the same group as defined in Section 2(4) of ITA
(Section 33A(2) of the ITA);
Where interest is paid or credited to a company in the same group as defined in Section 2(4) of ITA
or to a licensed bank, licensed Islamic bank or a development financial institution (Section 33B(2))
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
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Further developments on IBA claims for buildings which are rented out
Arising from Budget 2016 and with effect from YA 2016, certain buildings that are deemed as
industrial buildings (IBs) will not qualify for industrial building allowance (IBA) if the building or part of
the building is let out. These IBs are as follows: licensed private hospitals; maternity homes; nursing
homes; buildings used for research; warehouses; buildings used for approved services projects; hotels;
airports; motor racing circuits; buildings used as living accommodation of employees of persons
carrying on a manufacturing, hotel or tourism business or an approved services project; and approved
schools or educational institutions (Schedule 3 Paragraph 16B of the ITA). The Inland Revenue Board
(IRB) had subsequently clarified that Paragraph 16B would not apply to existing buildings acquired
prior to YA 2016 but would only apply to new buildings acquired from YA 2016.
The Finance Bill further amends Paragraph 16B to extend the list of buildings that will not qualify for
IBA if rented out, to buildings used for industrial, technical or vocational training approved by the
Minister. Subject to further clarifications with the IRB, understand that similarly this extended list will
not apply to buildings acquired prior to YA 2016.
The Finance Bill also provides that if not more than one-tenth of the total floor area of the industrial
building is rented out, the whole building will qualify for IBA. If more than one-tenth of the total floor
area of the IB is rented out, the IBA claim will only be available on the floor area which is not rented
out.
Limitations of claims for deductions for companies with single-tier dividends widened
Paragraph 12B of Schedule 6 of the ITA currently states that any expenses incurred in relation to
single-tier dividends shall be disregarded for the purposes of ascertaining adjusted income. The
Finance Bill has proposed that the word expenses and adjusted income be replaced with the words
deductions and chargeable income respectively. This proposal effectively widens the ambit of the
sums that could potentially be disallowed (to include items such as approved donations, for example).
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 7
Tax administrative changes Highlights
Application for relief of a person with no CI
and with CI extended
Electronic submission of tax estimates
extended to other entities other than
companies
Fees for advance pricing arrangement
Penalty provisions introduced in the ITA to
ensure compliance with BEPS Action Item
13 on transfer pricing documentation,
Section 154(1)(c) and Mutual
Administrative Assistance Arrangement
(MAAA)
Application for relief of a person with no CI and with CI extended
Currently, Section 131 of the ITA only allows a person to apply for relief in respect of an error or
mistake in a tax return when such person has paid tax. The application must be made within five years
after the end of the YA in which the assessment was made. In recognition that errors or mistakes may
also arise in situations that do not give rise to a tax payable position (for example, when computing
unabsorbed capital allowances or losses), the Finance Bill has introduced Section 97A(5) to allow such
taxpayers to also apply for relief. In addition, the Bill introduces Section 97A(1A) to automatically
deem a notification of non-chargeability (NONC) to be made upon submission of tax returns by a
taxpayer in cases where there is no tax payable for a YA. Thus, such taxpayers no longer need to apply
for a NONC before an appeal may be made against the DGIRs prevailing practice or Public Ruling.
As indicated above, currently Section 131 of the ITA allows a person with CI and who has paid tax to
apply for relief in respect of an error or mistake in a tax return. A new Section 131A has been
proposed to allow a person to apply for relief where the tax paid is excessive due to reasons other than
in respect of an error or mistake, i.e.:
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 8
New proposed Section
131A
Reason for excessive payment of tax Time limit for appeal
Section 131A(1)(a) and
(b)
Any exemption, relief, remission, allowance
or deduction granted for that YA or any
other written law published in the Gazette,
or the approval is granted after the YA in
which the return is furnished
Within five (5) years after
the end of the year the
exemption, relief,
remission, allowance or
deduction is published in
the Gazette or the
approval is granted,
whichever is the later
Section 131A(1)(c) Where a deduction was not allowed in
respect of payment not due to be paid
under the withholding tax sections, on the
day the return is furnished by the taxpayer
Within one (1) year after
the end of the year the
payment is made
The above proposals apply where there is no chargeable income or where the assessment is excessive.
On receiving such applications for relief, the DGIR shall inquire into the matter and may give
repayment of tax where the appeal appears to be just and reasonable. An applicant who is aggrieved
by the DGIRs decision may, within six (6) months after being informed of such decision, make a
written request to the DGIR to forward the appeal to the Special Commissioners of Income Tax (SCIT).
The DGIR shall forward the appeal to the SCIT within three (3) months after receiving such request.
The above proposed amendments will come into operation on 1 January 2017.
Electronic submission of tax estimates extended to entities other than companies
The Finance Bill has proposed that the electronic submission of estimates and revised estimates of tax
payable, which is to be effective from YA 2018 for companies, shall also extend to limited liability
partnerships, trust bodies and co-operative societies. This requirement is effective from YA 2019
(Section 107C(7A) of the ITA).
Fees for advance pricing arrangement
It is proposed that Section 154(1)(ec) of the ITA be amended to include the words arrangement
made under Section 138C so that the Minister shall be empowered to prescribe fees for Advance
Pricing Arrangements. Currently, the Minister is only empowered to prescribe fees for Advance
Rulings. This provision is effective upon the coming into operation of the Finance Act.
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Penalty provisions introduced in the ITA to ensure compliance with BEPS Action Item 13 on transfer pricing documentation, rules made under Section 154(1)(c) and Mutual Administrative Assistance Arrangement (MAAA)
Todays international tax conversations are focused on the impact of the Organisation for Economic
Co-operation and Development (OECD)s Base erosion and profit shifting (BEPS) initiative on cross-
border supply chains. The OECD has finalized 15 Action Plans with recommendations for changes in
international tax rules, to remedy perceived BEPS issues. In order to increase tax transparency by
providing tax authorities with a line of sight into a Groups entire global footprint, BEPS Action item
13 prescribes a three-tiered approach to transfer pricing documentation, which consists of the
following:
i) Master file containing standardised information relevant for all MNE group members;
ii) Local file referring specifically to material transactions of the local taxpayer; and
iii) Country by Country Report (CbCR) containing certain information relating to the global
allocation of the Multinational Corporation (MNE)s income and taxes paid together with certain
indicators of the locations of economic activities within the MNE group. [Based on the OECD
Guidance, CbCR applies to any MNE with annual consolidated group revenue equal to or above
750m (estimated at RM3.48b on 7 October 2016).]
The CbCR report will be filed annually with the ultimate parents home tax authority and the reports
are to be shared via the treaty network by the ultimate parents home tax authority. The CbCR report
will automatically be shared with foreign tax administrators under the Multilateral Competent
Authority Agreement (MCAA), which Malaysia signed on 27 January 2016.
In a consultation session with the Chartered Tax Institute of Malaysia on 24 March 2016, the IRB
announced that they are planning to introduce the CbCR requirement and that the current local
transfer pricing documentation requirements will be updated to include the Master File-Local File
concepts. The CbC reporting requirement and the new transfer pricing documentation requirements
are expected to be effective in Malaysia from 1 January 2017, with the first filing of the CbC reports
by 31 December 2018. The practice in relation to submission of the transfer pricing documentation
will remain unchanged, i.e. such documentation will need to be provided within a specific period of
time (usually 30 days) upon request by the IRB.
In line with the IRBs intention to introduce CbCR in Malaysia and other exchange-of-information
developments, the Finance Bill proposes new penalty provisions under Sections 112A, 113A and
119B of the ITA in accordance with rules made under Paragraph 154(1)(c) of the ITA which involves
simultaneous tax examination, automatic exchange of information or tax administration under
Section 132B of the ITA between the Malaysian Government and any Government of any territory
outside of Malaysia where the CbCR is not prepared in line with the OECDs recommendations. A
summary of the new penalty provisions is as follows:
Section 112A of the ITA Failure to furnish CbCR. The burden of proof lies with the accused
person to show that he has furnished a country-by-country-report;
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
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Section 113A of the ITA Any person, on behalf of himself or another person, who makes an
incorrect return, or makes an information return or report omitting the information required and
giving any incorrect information required in accordance with Section 154(1)(c) that implements
or facilitates the operation or arrangement on double tax agreements, tax information exchange
agreements and mutual administrative arrangements. A person will not be guilty of an offence
under Section 113A if the court is satisfied that the failure was made in good faith.
Section 119B of the ITA - Failure to comply with any rules made under Paragraph 154(1)(c) of
the ITA on mutual administrative assistance. The burden of proof lies with the accused person.
Upon conviction under Sections 112A, 113A or 119B of the ITA, the person (or persons filing on
behalf of himself or another person under Section 113A of the ITA) shall be liable to a fine of
between RM20,000 and RM100,000 or imprisonment for a maximum of six (6) months, or both. The
court may also make a further order to the person to comply with the rules within 30 days or any
other period as the court deems fit.
It is expected that the rules and guidelines on the three-tiered approach to transfer pricing
documentation will be released in the coming months.
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Volume 19, Issue 23 11
Goods and Services
Tax (GST)
The GST announcements in the Budget 2017 are mainly intended to streamline certain provisions under
the GST legislation.
Warehousing Scheme
Currently, the Warehousing Scheme only applies to imported goods deposited into the warehouse.
It is proposed that the scope of the Scheme be broadened to include all goods deposited into a
qualifying warehouse. The proposal will benefit goods from a Principal Customs Area (PCA)
deposited into the warehouse and align the GST treatment of goods imported vis--vis goods supplied
from a PCA.
Highlights
Warehousing Scheme
Free Zones
Designated Area
Installation, configuration and integration of a device for providing information
Late payment penalty
Other amendments
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 12
Free Zones
The relevant GST treatment with respect to Free Zones is summarized below:
s and Free Commercial Zones will together be known as Free Zones.
s (except for imported goods that
would be used or consumed in Free Zones, other than goods used for the purpose of commercial,
manufacturing or retail trade activities)
No GST would be chargeable on any taxable supply of goods made within or between Free Zones;
a Free Zone to another Free
Zone via the PCA or, from a Free Zone to the PCA would amount to an importation into Malaysia
and GST would be payable upon importation. However, subject to an Order made by the Minister
of Finance, GST will be suspended on any goods removed from a Free Zone to another Free Zone
via the PCA, a Designated Area or a Warehouse under the Warehousing Scheme;
when the
principal place of business is in a Free Zone.
Designated Area
Due to the changes to Free Zones and the Warehousing Scheme (see previous), the proposed GST
treatment in a Designated Area will be as follows:
GST is chargeable on the removal of all goods (including goods under any lease agreement):
From a Designated Area to another Designated Area through Malaysia; or
From a Designated Area to Malaysia
However, subject to an Order made by the Minister of Finance, payment of tax will be suspended
on goods removed from a Designated Area through Malaysia to:
Another Designated Area;
A Free Zone; or
A warehouse under the Warehousing Scheme
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Volume 19, Issue 23 13
Installation, configuration and integration of a device for providing information
The Finance Bill proposes that the Director General of Customs can require any prescribed registered
person to provide information on all supplies made and payments received by using a device as
prescribed by the Minister of Finance.
Access to the information on the device shall not be given, published or disclosed to any other person,
unless the disclosure is required or authorised:
Under the GSTA
By any court; or
For the performance of duties or exercise of power under the GSTA
Late payment penalty
Under the Finance Bill, the late payment penalty under section 41(8) of the GSTA will be revised as
follows:
(i) For the first 30 days: penalty rate will be increased from 5% to 10%;
(ii) For the second 30 days: the additional penalty rate will be increased from 10% to 15%;
(iii) For the third 30 days: the additional penalty rate will be increased from 10% to 15%;
(iv) The maximum cap of 25% penalty rate will be removed.
(v) The penalty will apply to the tax amount which remains unpaid.
The above late payment penalty will also be applicable to a non-taxable person who is required to
account for GST by furnishing a return and paying GST.
Others amendments
In addition to the above, the Finance Bill also proposes the following amendments to the GSTA:
(a) The time of supply for imported services
The present law provides that time of supply for imported services is the earlier of the date of
payment or the date when the invoice is issued by the supplier. This provision has been amended to
prescribe time of supply as the earlier of the date of payment or the date when the invoice is
received from the supplier.
(b) Computation of GST registration threshold
For calculating the value of supplies for the purpose of the GST registration threshold, the supply
of capital assets of the business is required to be excluded. An amendment has been proposed to
state that the capital assets which are supplied due to cessation of business are required to be
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 14
excluded. While there is some ambiguity requiring clarification, subject to confirmation from the
authorities, this amendment appears to be in addition to, rather than a replacement of, the current
wording which excludes the supply of capital assets in the course or furtherance of business.
Further, another sub-clause has been added to provide that supplies made within or between the
Free Zones are required to be excluded, subject to exceptions published in an Order.
(c) Issuance of tax invoice by non-taxable person
A sub-section relating to issuance of tax invoice has been proposed to be amended. For a
registered person, the amendment implies that he should not issue any invoice containing an
amount which purports to be tax for a non-taxable supply or zero-rated supply. Further, for a non-
registered person (with some specific exceptions), the amendment implies that he should neither
issue any invoice showing an amount which purports to be a tax nor issue an invoice which
purports to be a tax invoice.
It may be noted that the explanatory notes to the Finance Bill suggest that a registered person
should not issue a tax invoice for a non-taxable or zero-rated supply. This, however, is not as per
the amendments proposed in the Act.
(d) GST refund in relation to GST relief
In the event a person is granted GST relief prescribed under the Goods and Services Tax (Relief)
Order and has paid the GST to which the relief relates, such person shall be entitled to a refund if
an approval is granted by the Minister of Finance.
Such person should make the claim within six (6) years from the time the person is entitled for the
refund.
(e) GST treatment of supply of land to government for certain purpose
Subject to conditions, any supply of land by a developer or owner of the land to the Federal
Government, State Government, local authority or any other person shall not be treated as a
supply of goods nor supply of services.
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 15
Other changes
Definition of a Labuan business activity and a Labuan non-trading activity narrowed
Currently the definition of a Labuan business activity provides that a Labuan entity may hold
investments in a domestic company, with residents, in Malaysian currency. The Finance Bill proposes
that the word investments in a domestic company be replaced with shares.
Labuan non-trading activity (income from which, if earned by a Labuan entity carrying on a Labuan
business activity, is not subject to tax) is currently defined as an activity relating to the holding of
investments in securities, stock, shares, loans, deposits or any other properties by a Labuan entity on
its own behalf. It is proposed that the definition be narrowed to an activity relating to the holding
of investments in securities, stock, shares, loans, deposits or any other properties situated in Labuan
by a Labuan entity on its own behalf, i.e. the words situated in Labuan are added to the definition.
These proposals come into effect on the date of the coming into operation of the Act.
Highlights
Definition of a Labuan business activity
and Labuan non-trading activity narrowed
Amendments to RPGT law to take into
account input tax adjustments on relevant
expenditure and to restrict the no-gain-no-
loss provision on gifts to only donors who
are citizens
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Amendments to RPGT law to take into account input tax adjustments on relevant expenditure and to restrict the no-gain-no-loss provision on gifts to only donors who are citizens
The proposed Real Property Gains Tax (RPGT) changes seek to streamline the RPGT treatment with
the changes to the income tax legislation introduced last year, with respect to adjustments under the
GSTA. Where there is an adjustment in the amount of input tax claimable under the GSTA, relating to
an expenditure incurred on the acquisition or disposal of an asset, such adjustments will be taken into
account / adjusted accordingly for RPGT purposes. The proposed changes will be effective
retrospectively from YA 2015 (Schedule 2 Paragraph 6(1A) and 7(2)).
The no-gain-no-loss provisions on disposal by way of gift (where the donor and recipient are husband
and wife, parent and child, or grandparent and grandchild) is currently applicable to citizens,
permanent residents and non-citizens. The proposed change seeks to restrict the no-gain-no-loss
provisions only to a situation where the donor is a citizen of Malaysia. This proposed change will be
effective on 1 January 2017 (Schedule 2 Paragraphs 12(2) of the RPGTA).
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 17
EY Budget 2017 and Tax Conference
How will the Malaysian Budget 2017 affect your company and business? Are there new incentives that
your organization can take advantage of? Are there new taxes or regulations that you need to be mindful
of? What are the latest developments in the tax arena that will impact how you manage tax risks?
EY's senior tax professionals are ready to help answer these questions for you. They can explain and
guide you through the salient issues of the Malaysian Budget 2017 and share practical insights on the
latest tax developments.
Participants at our Budget and Tax Conferences will be provided a copy of the Budget 2017
commentary, as well as opportunities for questions and answers.
Mark these dates down for an insightful session on the Malaysian Budget 2017 and more!
Kuala Lumpur Ipoh Penang
Date: 27 October 2016 1 November 2016 10 November 2016
Venue: Connexion@Nexus (Bangsar
South)
Weil Hotel G Hotel Gurney
Time: 9:00 a.m. 5:15 p.m. 9:00 a.m. 5:00 p.m. 8:30 a.m. 5:30 p.m
Contact: Valerie Joshua / Ramlah
Abd Rahman
Patricia Lau / Chang Wai
Chien
Lim Shu Bei / Rachel Lau
Tel: 03-74958310 / 58466 Tel: 05-241 1255 Tel: 04-2641878
Johor Bahru Malacca Kuantan Date: 1 November 2016 2 November 2016 3 November 2016
Venue: Renaissance Hotel, Johor
Bahru
Hatten Hotel, Melaka Zenith Hotel, Kuantan
Time: 8:30 a.m. 5:30 p.m. 8:30 a.m. 5:30 p.m TBA
Contact: Roslina Md Salleh / Lili
Nazirah Abdul Hamid
Chan Lay Khim / Michelle
Tan Pau Choo
Juliana Hanim / Eddie Eries
Tel: 07-3341740 Tel: 06-2882399 Tel: 09-5157500
Kuching Sibu Miri Bintulu Date: 1 November 2016 2 November 2016 4 November 2016 3 November 2016 Venue: Hilton, Kuching Tanahmas Hotel,
Sibu Imperial Hotel, Miri Promenade Hotel,
Bintulu Time: TBA 8:30 a.m. 5:00
p.m. 8:30 a.m. 5:00 p.m.
8:30 a.m. 5:00 p.m.
Contact: Irene Foo / Anne Chong
Ting Su Ding Belinda Ting / Ku Xiu Ting
Fion Wong / Pao Nguk Eng / Lim Yan Ping
Tel: 082-243233 Tel: 084-332134 Tel: 085-423881 Tel: 086-336111
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Kota Kinabalu Tawau Sandakan Date: 2 November 2016 3 November 2016 4 November 2016
Venue: Le Meridien Kota Kinabalu Promenade Hotel, Tawau Four Points By Sheraton,
Sandakan
Time: TBA 8:30 a.m. 1:00 p.m 8:30 a.m. 1:00 p.m.
Contact: Dora Wong /Jennifer Vun
Chai Siew Moi / Alison
Chung
Stephanie Au
Tel: 088-235733 Tel: 089-774233 Tel: 089-217266
In addition, Japanese seminars will be held as follows:
Kuala Lumpur Penang Johor Bahru Date: 2 November 2016 3 November 2016 4 November 2016
Venue: EY office, Menara Milenium,
Kuala Lumpur
EY office, MWE Plaza,
Georgetown
EY office, Menara Pelangi,
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Time: 9:30 p.m. 12:30p.m. 2:30 p.m. 4:30p.m. 2:30 p.m. 4:30p.m.
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Tax alert Highlights of Budget 2017 (Part II) 26 October 2016
Volume 19, Issue 23 19
Important dates
27 October 2016 EY Budget 2017 and Tax Conference
(Kuala Lumpur)
31 October 2016 6th month revision of tax estimates for companies with April year-end
9th month revision of tax estimates for companies with January year-end
Statutory deadline for filing of 2016 tax returns for companies with March year-end
15 November 2016 Due date for monthly instalments
30 November 2016 6th month revision of tax estimates for companies with May year-end
9th month revision of tax estimates for companies with February year-end
Statutory deadline for filing of 2016 tax returns for companies with April year-end
For income tax enquiries:
Dr. Lydia Shalani Thiagarajah
Email: [email protected]
For GST enquiries:
Dave Ananth
Email: [email protected]
Tel: +603 7495 8422
For subscription enquiries:
Ramlah@ Rosliza Abdul Rahman
Email: [email protected]
Tel: +603 7495 8466
Publisher:
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Jalan Damanlela, Pusat Bandar Damansara
50490 Kuala Lumpur
Tel: +603 7495 8000
Fax: +603 2095 7043
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