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Malaysian House of Representatives Considering Finance Bill (No. 2) 2023 Including Pillar 2 GloBE Rules

08 November 2023

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Proposed Changes

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Malaysia

The Malaysian House of Representatives is considering the Finance Bill (No. 2) 2023, which includes certain measures of the Budget for 2024 and others, including new rules for the taxation of gains or profits from the disposal of capital assets, provisions in relation to Malaysia's new electronic invoicing requirements, various amendments in relation to personal deductions, and other changes. The Finance Bill (No. 2) 2023 also provides for the Pillar 2 GloBE Rules with the addition of a new Part XI Implementation Of Domestic Top-Up Tax And Multinational Top-Up Tax to the Income Tax Act 1967. Related amendments are also...