The Inland Revenue Board Malaysia (Lembaga Hasil Dalam Negeri Malaysia - LHDNM) has announced the rollout of ‘e-invoice’ as part of the government’s initiative towards advancing Malaysia’s digital landscape. The implementation will be done in stages from August 2024, with the first being made mandatory for businesses with a yearly turnover of over RM100 million and targeted timeline of mandatory adoption for all businesses by July 2025.

Join us for this complimentary webinar featuring representatives from LHDNM and MDEC to obtain more information and clarification on the ‘e-invoice’ system and its’ implementation. The webinar will also help businesses understand various systems and processes, enabling them to determine the most effective, efficient, and practical way of meeting this regulatory requirement.

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Malaysia has introduced a new tax on capital gains, termed as Capital Gains Tax (CGT) during the year 2024. CGT on disposal of foreign assets is effective from 1st January 2024, while CGT on the disposal of domestic assets is exempted up to 29th February.

The tax rate for CGT varies from 2% to 24%, depending on the type of transaction and whether transitional provisions apply. The scope of CGT, in some cases, are much wider than gains from sale of unlisted shares. For example, capital reduction exercise is subject to CGT.

Further, disposal of shares of companies listed outside of Malaysia is subject to Malaysian CGT particularly if the disposer is tax resident in Malaysia. Disposal of real property situation overseas is also subject to CGT in Malaysia if the disposer is tax resident in Malaysia.

Learning Outcomes:

1. Gain comprehensive insights into the background and key driving factors behind the implementation of Capital Gains Tax (CGT).

2. Acquire a thorough understanding of the distinctions involved in comparing CGT implications on both foreign and domestic transactions.

3. Understanding the exemptions under domestic tax law and double tax agreements.

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