Chamber News, Past Events

Highlights from ‘Doing Business in Malaysia’s Business Tax Landscape Webinar’ with EY

Posted by admin1689
On April 9, 2025
Comments Off on Highlights from ‘Doing Business in Malaysia’s Business Tax Landscape Webinar’ with EY

On 9 April, we organised a webinar on doing business in Malaysia’s changing tax landscape. The enlightening session handily explained:

  • Malaysia is trending toward becoming an attractive and welcoming destination for foreign direct investment (FDI), joining Singapore, Indonesia, Vietnam, and the Philippines.
  • The New Investment Incentive Framework, which focuses on high-value activities and was introduced to improve the existing practice of providing product-centric incentives. The NIIF:
    • Introduced new economic sectors and clusters
    • Encourages more investments that comply with ESG standards
    • Introduced supply chain resilience initiative to strengthen the local supply chain and primary sector ecosystem
    • Increased the level of economic complexity in the electrical and electronics sector
    • Provided high-income jobs to the rakyat in AI and R&D fields
  • Expansion of Sales and Service Tax Scope in 1 May, which:
    • is proposed to include the imposition of sales tax on non-essential items such as imported premium goods
    • is proposed to expand to include new taxable services, such as commercial service transitions between businesses and fee-based financial services
    • will generate revenue for the government
    • will increase costs to importers, retailers, and consumers
    • will potentially shift consumption patterns on non-essential goods
  • Technology to consider for SST, such as e-Invoicing, which:
    • features real-time data capture that requires accurate data and correct SST treatment
    • specifies the number of mandatory and optional fields for e-Invoices and annexures
    • features integrated systems for IRBM and RMCD

We thank our speakers — Amarjeet Singh, Linda Ooi, Jalbir Singh, Poh Ai Yeen, and Chandni Vora — for taking the time to shed light on how to navigate Malaysia’s changing tax landscape.

We hope those who attended the session better understand how their businesses can both benefit from and take measures when investing in Malaysia.