Malaysia’s Withholding Tax Policy – Implications For Your Business
Malaysian businesses with cross-border transactions involving foreign service providers and non-residents are required to comply with local withholding tax requirements. Failure to account for tax payments stipulated by the Inland Revenue Board (LHDN) will result in hefty penalties.
At this webinar, our tax experts spoke on:
- Overview of withholding tax (WHT) regime
- Different types of WHT
- Contract fee, royalty fee and service fee
- Rental of movable property
- Gains or profits under Section 4(f) of the Income Tax Act 1967 (ITA 1967)
- Payments made to the resident agent
- Withholding tax and service tax on imported taxable services
- Consequences of non-compliance
Contact us if you need further information on Malaysia’s withholding regime.
Cheong Woon Chee, Head of Tax Services, BoardRoom Malaysia
Woon Chee is a chartered accountant and tax advisor with more than 14 years of experience in providing tax advisory services concerning corporate & individual tax, partnership & foundation tax compliance, tax incentives, tax audits & due diligence. Her broad clientele includes construction companies, property developers, hotels, logistics firms, plantations, education institutions, manufacturing and food & beverages companies.
Victor Cheow, Tax Manager, BoardRoom Malaysia
Victor has more than 9 years of tax experience, specializing in tax engagement and advisory for individual and corporate organisations, Sales and Service tax, tax audit and compliance and other tax related matters.