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Malaysia Budget 2019 Tabled Including Several Proposed Tax Measures

05 November 2018

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Proposed Changes

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Malaysia

On 2 November 2018, Malaysia's Minister of Finance tabled in parliament the Budget for 2019. As highlighted in the budget speech, several tax-related measures are proposed, including: The grant of exemptions for specific business-to-business Service Tax for registered Service Tax entities from 1 January 2019 to prevent the increase in the cost of doing business as a result of compounded taxation and protect the competitiveness of our local service industry; The introduction of a credit system for Sales Tax deduction from 1 January 2019 to assist the problems faced by small manufacturers who purchase their products from importers instead of...