June 2021

Deferment of Payment of Tax Instalments for the Period from 1st April 2021 to 31st December 2021 for Tourism, Cinema and Spa Industries

Under the PEMERKASA Stimulus Package announced by the Government on 17th March 2021, it was proposed that deferment of tax instalments be granted to companies in the tourism and selected industries (e.g. cinema and spa). In relation to this, the Inland Revenue Board ["IRB"] has issued the Frequently Asked Questions ["FAQ"] - Deferment of Payment of Estimated Tax Payable (CP204) and Instalment Scheme (CP500) from 1st April 2021 to 31st December 2021 under PEMERKASA.

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Extension of Time for Circulation and Lodgement of Financial Statements and Annual General Meeting Announced by Suruhanjaya Syarikat Malaysia ("SSM")

Following the implementation of Full Movement Control Order ("Total lockdown") and in support of the Government's initiatives to ease the economic pressures faced by the corporate community, SSM has issued the Practice Directive ("PD") No. 8/2021 dated 1 June 2021 to clarify the special procedures for application of Extension of Time ("EOT") for Lodgement of Financial Statements and Annual General Meeting (AGM) for affected companies having financial year end AFTER 31 October 2020 to 31 January 2021 as follows:

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IRB's Response to MCO 3.0 - FAQ on Tax Matters During the MCO 3.0

Following the Government's implementation of the Movement Control Order 3.0 ["MCO 3.0"] due to the surge in the COVID-19 cases, the Inland Revenue Board ["IRB"] has, on 2nd June 2021, issued the Frequently Asked Questions ["FAQ"] on Tax Matters During the MCO 3.0, with some updates made on 3rd and 4th June 2021.

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PEMERKASA Plus Stimulus Package

On 31st May 2021, the Government has announced the PEMERKASA Plus Stimulus Package ["PEMERKASA Plus"] worth RM40 billion with the following three (3) main objectives:-

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