We talk about the updates in MY’s CGT Regime, HK’s Patent Box Regime and more

We talk about the updates in MY’s CGT Regime, HK’s Patent Box Regime and more


Updates on Malaysia’s Capital Gains Tax Regime and their e-Invoicing Guidelines, Hong Kong’s new Patent Box Regime and China’s VAT Additional Deduction Policy

We are pleased to present the April edition of our newsletter, where we explore the evolving tax landscapes of Malaysia, Hong Kong, and China. In this issue, we share the latest updates on Malaysia’s Capital Gains Tax Regime and break down their e-Invoicing guidelines before we discuss Hong Kong’s new Patent Box Regime and China’s VAT Additional Deduction Policy. 

Staying informed and engaging proactively with tax advisors are essential for taxpayers in Malaysia, Hong Kong, and China. These steps are crucial for taxpayers in navigating the intricacies of the tax landscape and positioning themselves for sustainable compliance and tax efficiency.



Malaysia’s New Capital Gains Tax (CGT) Regime

Effective from 1 January 2024, Malaysia has introduced a Capital Gains Tax (CGT) on gains from the disposal of capital assets, including gains from foreign capital assets received in Malaysia by residents. 

The Inland Revenue Board (IRB) issued guidelines to clarify the tax treatment for residents disposing of foreign capital assets. Taxpayers should review their investment strategies and seek professional advice to optimise their tax positions considering these changes.


Navigating Malaysia’s Updated E-Invoice Guidelines

The Malaysian Inland Revenue Board (IRB) recently published updated E-invoice Guidelines, a significant step towards enhancing efficiency in tax administration and compliance. 

These guidelines aim to streamline and standardise e-invoicing processes for all businesses in Malaysia. Our tax advisors share more on what these guidelines will mean to your business, in our report. 


Hong Kong

Driving Tax Competitiveness Through Hong Kong’s New Patent Box Regime

Hong Kong gazetted the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024, introducing the Patent Box regime.

This regime applies a 5% concessionary tax rate to eligible IP income sourced and developed in Hong Kong, aiming to incentivise R&D and IP commercialisation. Learn more on why businesses should assess their eligibility and engage with tax advisors so that they can maximise benefits in this innovation-driven environment.



Navigating China's VAT Landscape: Insights into the VAT Additional Deduction Policy

In China, the Value-Added Tax (VAT) Additional Deduction Policy has been pivotal since its introduction. As businesses seek to optimise their tax strategies in 2024, understanding the eligibility criteria, calculation methods, and treatment of special scenarios under this policy is crucial. 

Our report covers everything your business needs to navigate the VAT landscape, to ensure compliance and maximise benefits.




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