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More than RM428m collected in digital services tax

More than RM428m collected in digital services tax
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Dewan Negara passes five bills

KUALA LUMPUR (Dec 28): The Dewan Negara today passed five Bills including the Finance Bill 2020, the Customs (Amendment) Bill 2020, and the Excise (Amendment) Bill 2020.
Also passed was the Free Zones (Amendment) Bill 2020 and the Temporary Measures for Government Financing Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020.
The Finance Bill 2020 and the Temporary Measures Bill for Government Financing Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020 were tabled by Deputy Finance Minister II Mohd Shahar Abdullah.
Meanwhile, the Customs (Amendment) Bill 2020, Excise (Amendment) Bill 2020, and Free Zones (Amendment) Bill 2020 were tabled by Deputy Finance Minister I Datuk Abd Rahim Bakri.
Mohd Sahar said the tabling of the Finance Bill 2020 was for the purpose of amending the Income Tax Act 1967, Real Property Gains Tax Act 1976, Stamp Act 1949, Petroleum (Income Tax) Act 1967, Labuan Business Activity Tax Act 1990, Finance Act 2012 and Finance Act 20 ....

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Dewan Negara passes five Bills | Malaysia

Monday, 28 Dec 2020 06:08 PM MYT
A general view of Dewan Negara at Parliament, Kuala Lumpur September 2, 2020. ― Picture via Twitter
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KUALA LUMPUR, Dec 28 The Dewan Negara today passed five Bills including the Finance Bill 2020, the Customs (Amendment) Bill 2020, and the Excise (Amendment) Bill 2020.
Also passed was the Free Zones (Amendment) Bill 2020 and the Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020.
The Finance Bill 2020 and the Temporary Measures Bill for Government Financing (Coronavirus Disease 2019 (Covid-19) (Amendment) Bill 2020 were tabled by Deputy Finance Minister II Mohd Shahar Abdullah. ....

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SST or GST: Finance Ministry needs detailed study to determine which is better

KUALA LUMPUR: The government will carry out a detailed study to determine if the Goods and Services Tax (GST) should be reintroduced or to continue with the Sales and Services Tax (SST) now in place.
Deputy Finance Minister I Datuk Abd Rahim Bakri said the government would need to determine if it should re-introduce GST or continue with SST with an improved system to ensure which will yield better tax revenue.
YB Subang (Wong Chen) and YB Tebrau (Steven Choong Shiau Yoon) have agreed with the re-implementation of GST but have submitted a few recommendations. The government will review all the proposals made. ....

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Dewan Rakyat passes three Customs-related bills | Malaysia

Wednesday, 16 Dec 2020 05:26 PM MYT
Deputy Finance Minister I, Datuk Abd Rahim Bakri is pictured at Parliament in Kuala Lumpur November 4, 2020. Bernama pic
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KUALA LUMPUR, Dec 16 Three customs-related bills, namely, the Customs (Amendment) Bill 2020, Excise (Amendment) Bill 2020 and Free Zones (Amendment) Bill 2020 were passed at the Dewan Rakyat today.
Deputy Finance Minister Datuk Abd Rahim Bakri when tabling the amendments for the Customs Act 1967 for the second reading said it aimed to improve, standardise and update the existing provisions by adding new provisions so that tax legislation is more transparent, efficient and in line with the current changes on tax policies. ....

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