Malaysia: Updated FAQs on tax during recovery period (COVID-19)

FAQs regarding taxation matters during the National Recovery Plan

FAQs regarding taxation matters during the National Recovery Plan

The Malaysian Inland Revenue Board (MIRB) on 4 July 2021 updated a set of “frequently asked questions” (FAQs) regarding taxation matters during the National Recovery Plan. 

The government in early June 2021 initiated the National Recovery Plan as a response to the coronavirus (COVID-19) pandemic.

The updated FAQs concern:

  • Withholding tax payments (made online via interbank GIRO transfer or electronic fund transfer by furnishing complete payment details to the MIRB, apart from telegraphic transfer as announced in earlier FAQs)
  • Real property gains tax (further extended through 31 August 2021 (previously 31 July 2021) for filing returns when the due date falls within the National Recovery Plan period)
  • Stamp duty (extension of 30 days for stamping of instruments or stamp duty payment when the due date falls within the National Recovery Plan period; in other situations, an application for an extension of time will be considered by the MIRB based on merits of the case)

Read a July 2021 report prepared by the KPMG member firm in Malaysia

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.