Moody’s, one of the top credit ranking agencies, maintains a stable outlook for the Malaysian banking sector. One of the primary reasons for this favorable evaluation is the fact that this year the sector preserved its strong operating conditions. Strong capital and liquidity buffers were also some of the reasons for the favorable outlook. One of our lawyers in Malaysia can offer additional information about the investment climate in this field.
The SST replaces or is rather re-introduced in place of the GST which entered into force in 2015.
More and more Singapore companies are looking towards Malaysia as a viable option for their expansion in Asia. The large consumer market, as well as the ease of doing business, are among the top reasons.
Companies in Malaysia have the option to challenge late GSP penalties online. The application for the remission of the late payment penalty can now be made through the Taxpayer Access Point, or TAP. The statement plus the instructions on how to handle this step were released by the Royal Malaysian Customs Department. The team of experts at our law firm in Malaysia can give you more information on remitting all of part of the late payment penalty.
A three-month long tax holiday is expected to increase the retail industry growth this year from 4.7 percent to 5.3 percent. The Malaysia Retailers Association released an adjusted forecast for the GST-exempt period during which spending patterns are very likely to change. This tax holiday is possible during the transition period between the Goods and Services Tax and the Sales and Services Tax.
Malaysia’s manufacturing sector recorded a growth of almost 4 percent in March. The increase was mainly attributed to more product sales in the electrical and electronic sector, the food and beverage sector and in two other business fields. Malaysia is an important hub for electronic and electrical manufacturing. Investors who wish to open a company in this business sector can talk to one of our lawyers in Malaysia.
Employment in Malaysia increased by as much as 2.1 percent in 2017, on a year-on-year basis. This was possible after the improvement of the labor market conditions.
In a recent statement, the President of the American Malaysian Chamber of Commerce highlighted the fact that Malaysia remains an inviting investment destination for US companies. The advantages are related both to the business ecosystem in Malaysia but also the cultural diversity and expansion that is possible in Kuala Lumpur, especially for United States companies.
According to a report presented by MIDF Research, Malaysia’s business performance is expected to increase in 2018, following the positive evolution recorded during the previous year.
Public Ruling No. 1/2018 issued by the Malaysian Tax Agency sets forth the applicability of the goods and services tax on the sale of buildings located on commercial land, used for both commercial and residential purposes. Our lawyers in Malaysia describe the provisions of the Public Ruling and can help you determine how the tax applies in your case for the property sale.
In Malaysia, gifts are exempt from the goods and services tax (GST) under certain conditions. The First Schedule of the Goods and Services Tax Act provides guidance on the tax treatment of assets which are considered gifts. Our lawyers in Malaysia talk about the taxation of gifts and how this regime applies to businesses.
Malaysian consumers maintain a stable confidence index, as shown by the most recent Global Survey of Consumer Confidence and Spending Intentions reported by Nielsen. The values were released for the third quarter of 2017. Experts say that the confidence level remained within the limits if its highest level over the last two years. The index was reported to influence the FMCG sector.
Malaysia’s Budget for 2018 includes a series of investment-favorable initiatives, meant to support the growth of small and medium-sized companies. Officials also believe that in 2018 private investment will outperform the public investment. Our lawyers in Malaysia highlight the main changes included in the Budget and how small and medium-sized companies could benefit from them.
Malaysia and China could work to diversify the types of investment fields currently targeted by most Chinese investors.
Malaysia’s Securities Commission will work on developing and implementing a set of guidelines for a regulatory framework meant to be used for cryptocurrencies and digital assets.
Dutch and Belgian investors are showing robust interest in the Malaysian economy. The announcement was made by the country’s International Trade and Industry Ministry who held a seminar during its trade and investment mission the Netherlands and Belgium in October.
The supply of goods for export to a foreign customer and the services directly linked to these supplies will benefit from GST relief, according to the published Relief by Minister of Finance 1/2017. Our lawyers in Malaysia detail the provisions of this relief and the services to which it applies.
Small companies in Malaysia can be exempt from having to appoint an auditor. The criteria for this exemption is set forth in the Practice Directive, released as a clarification of the Companies Act 2016.
Malaysia has a favorable business climate and has a high degree of openness toward foreign investments. While some business sectors are closed to foreign entrepreneurs, the country encourages certain other industries through significant incentives. Our lawyers in Malaysia describe the tax incentives programme.
Malaysia’s Second Minister for Finance recently stated that the Government wishes to introduce targeted tax breaks in certain industries. The change would apply starting with this year and it would favor small and medium sized businesses. The goal is to help promote a number of key industries.
Malaysia’s new initiative to include more zero-rated services in the scope of its goods and services tax (GST) has the potential to attract more foreign investors.
Our lawyers in Malaysia give you five small business ideas if you are interested in starting your own business in the country.
According to the Malaysian Department of Statistics, business performance will increase in the second quarter of 2017, compared to the preceding one. The estimate is based on the analysis of the business confidence indicator’s evolution.
The International Monetary Fund released a set of recommendations for Malaysia, as far as its taxes and international tax avoidance rules are concerned. Our lawyers in Malaysia can give you details about the proposed recommendations and the current tax system in Malaysia.
The Malaysian government has always sustained the commodity industry regarding the food safety in the country and his year, there will be RM 50 million prepared and granted to make some changes and developments in this area.