While Cyber Security Fraud remains one of the most pervasive threats, albeit matched by a rise in asset misappropriation and procurement fraud. Internal control mechanisms have not evolved in tandem with business evolution, contributing to a rise in opportunistic fraud that exploits process and...

The ASEAN economy is projected to maintain its growth at 4.6% in 2023 and 4.9% in 2024. The encouraging growth momentum from the rise of trades and investments made in the region came despite a global widespread of financial tightening and elevated inflation.During the 43rd ASEAN Summit on 5...

For the second time under the Unity Government, our Prime Minister, also the Finance Minister, Dato’ Seri Anwar bin Ibrahim, has tabled the Belanjawan MADANI in Parliament on 13 October 2023 under Budget 2024. The Government has highlighted its determination to uplift the economy of the nation...

In this issue of Tax Buzz, we will highlight the key changes and updates on income tax advance pricing arrangement, the new Transfer Pricing Documentation template and explanatory notes, tax deductions on AI-Driven Reverse Vending Machine, the new guidelines for employers on employee termination...

Following the Inland Revenue Board of Malaysia’s (“IRBM”)  announcement on 22 May 2023 on the implementation of e-invoicing in 2024, the IRBM has issued the e-Invoice Guideline Year 2023 (“Guideline”) on their website at https://www.hasil.gov.my/en/e-invoice/.BDO in Malaysia is pleased to provide...

We are very pleased to introduce you to the relaunch of BDO Malaysia’s Tax Buzz newsletter, a bi-monthly publication by BDO Malaysia. This newsletter is intended to brief you on the recent tax developments and updates in Malaysia covering both direct and indirect tax. In this edition, we shall...

Greetings and welcome to the first instalment of the ASEAN Investment & Tax News of 2023.The ASEAN region is expected to maintain its position as one of the world’s fastest growing regions in  2023, although global economic growth is projected to slightly decline compared to 2022 due to the...

Following the announcement on the reimplementation of the Special Voluntary Disclosure Programme (“SVDP 2.0”) in the revised Budget 2023, guidelines and Frequently Asked Questions (“FAQ”) on SVDP 2.0 were issued by the Inland Revenue Board of Malaysia (“IRB”) on 2 June 2023.Click below to...

The Ministry of Finance Malaysia issued the Income Tax (Transfer Pricing) Rules 2023 (“Malaysian TP Rules 2023”) on 29 May 2023 which is effective from year of assessment 2023. This replaces the Income Tax (Transfer Pricing) Rules 2012 which was issued in May 2012 and deemed to have come into...