Labuan IBFC on an Upward Trajectory After Slow Start
Labuan IBFC plans to develope a niche while strengthening its regulations and compliance with international standards to move away from the stigma associated with offshore centers.
Compliance Checks by the Labour Department
Labour authorities in Peninsular Malaysia have increased efforts to monitor employers’ compliance with the local laws and practice.
MyCC and MCMC to Foster Stronger Collaboration with MOU
Regulators sign a Memorandum of Understanding in light of rising complexity of competition issues.
National Energy Transition Roadmap Part 1 – Flagship Catalyst Projects and Initiatives
The NETR Part 1 sets the direction of the Malaysian government in developing future capabilities and shaping demand in the green energy market.
Significant Updates to the Transfer Pricing Rules
In this alert, we examine the key changes introduced under the 2023 TP Rules and its implications for taxpayers.
Introduction of New Advance Pricing Arrangement Rules
In this alert, we examine the key changes introduced under the 2023 APA Rules.
Risk-Based Assessment of Cloud Adoption: Updated Risk Management in Technology Policy Document
The document provides further guidance on the use of cloud services to be adopted by selected financial institutions.
Insolvency (Amendment) Bill 2023
The Insolvency (Amendment) Bill 2023 seeks to provide for a more effective bankruptcy administration system which is in line with the Government's intention to preserve the welfare of bankrupt individuals.
Energy Commission's Public Consultation Paper on Regulations Relating to the Import and Export of Electricity
The EC aims to collect feedback from the public to be used as basis by the Ministry of Natural Resources to propose regulations for off-border electricity exportation and importation activities.
Tax Incentives in Malaysia's Budget Aim to Boost Investment
The Malaysian government intends to adopt a more progressive tax structure to ensure fair revenue distribution and prioritize low and middle-income groups.
Key Corporate Tax Measures to Focus on in Malaysia's Budget 2023
In an article published in Bloomberg Tax, the authors look at key corporate tax measures in the budget and discuss their implications on businesses and investors.
Update - Corporate Green Power Programme
The Energy Commission, as the regulator of the CGPP, had issued a revised information guide on 17 April 2023 which can be downloaded from their website.
Public Consultation Paper (Part 2) on the Proposed Enactment of the Consumer Credit Act
The public consultation period on the Second Paper will close on 15 May 2023.
Update to the Anti-Sexual Harassment Act 2022
Several provisions of the Act have come into effect, and it is anticipated that the rest of the Act will come into effect in stages.
90 Days Under Malaysia Madani - Personal Data Protection Redux
We look back at the proposed changes to the PDPA, the latest developments under the new administration so far and what to expect in the days ahead.
Malaysian Budget 2023 - Tax Highlights
MADANI Budget is focused on addressing the current economic challenges, inspiring confidence with institutional and governance reforms and facilitating social justice by reducing inequality.
Budget 2023 - Updated Tax Highlights
Malaysia's Prime Minister and Minister of Finance, Dato' Seri Anwar Ibrahim unveiled the Malaysian Budget 2023, themed "Building Malaysia Madani".
Malaysian Premium Visa Programme (PVIP)
With various nations opening borders post pandemic, Malaysia expects to see an increased interest in the PVIP.
New Legal Requirements under the General Code of Practice of Personal Data Protection
The General CoP seeks to provide best practice recommendations with respect to the implementation of principles under the Personal Data Protection Act 2010 and its subsidiary legislation.
New Requirements Relating to the Employment of Foreign Nationals
Recent amendments to the Malaysian Employment Act introduced a new requirement for employers to seek prior approval of the Malaysian Director General of Labour before employing foreign employees.
Deferred Minimum Wages Order for Micro Businesses
The Government of Malaysia has effectively postponed the implementation date of the Minimum Wages Order (No. 2), from 1 January 2023 to 1 July 2023.
Survey on Role of Data Protection Officer (DPO)
The Malaysian Personal Data Protection Department (PDPD) has just published a questionnaire on Data Protection Officer (DPO) to gather market feedback on the role and qualification of a DPO in Malaysia (Survey).
A Guide to Corporate Green Power Programme for Corporate Consumers
This alert explains the mechanism of CGPP and sets out the potential investment opportunities and benefits to corporate consumers.
Review of Online Content Regulation and Framework
The review of the online content regulation and framework would cover (1) aspects pertaining to licensing, (2) the relevance of existing penalties, and (3) the need of introducing new laws.
Information guide on the Corporate Green Power Programme (CGPP)
The CGPP aims to promote the adoption of green energy amongst corporate companies in Malaysia.
Virtual Power Purchase Agreements under the Corporate Green Power Programme
This programme aims to encourage the adoption of green electricity amongst corporate companies in Malaysia.
Implications of Budget 2023 on Malaysian Projects and Infrastructure Scene
This alert focuses on the Budget 2023 highlights that would have an impact on the projects and infrastructure industries in Malaysia.
Budget 2023 - Tax Highlights
These key tax highlights are extracted from the Supply Bill 2023 tabled in Parliament on 7 October 2022, which have yet to be passed into law at the time of publication.
Malaysian National Energy Policy 2022-2040
This alert provides an overview of the Low Carbon Aspiration 2040 initiative and highlights key action plans of interest to those intending to comply with ESG requirements.
Competition Appeal Tribunal Overturns MyCC's Decision Against the General Insurance Association of Malaysia and Its Members
In September 2022, the CAT found that there was no liability on the part of the general insurers and PIAM under the Malaysian Competition Act and unanimously overturned MyCC's decision.
Deferred Implementation Date for Amendments to the Employment Act 1955
On 26 August 2022, the Minister of Human Resources announced a delay to the implementation date of the amendments to the Malaysian Employment Act (EA).
Further Updates Regarding Taxation of Foreign-sourced Income
In this alert, we summarise details of the income tax exemption orders and the relevant implications for taxpayers.
Amendment to the Scope of Employees Protected by the Employment Act 1955
The amendments means that a much larger section of the Malaysian work force will now be entitled to protection under the Act.
Proposed Amendments to the Personal Data Protection Act 2010 Expected to be Tabled at Parliament
Learn more about what new obligations on both data users and data processors will be introduced in the proposals.
Enhanced Transparency in Labuan
In this client alert, we focus on some of the key Amendments introduced, such as the introduction of the beneficial ownership reporting regime and the prohibition on issuance of bearer shares.
Public Consultation Paper (Part 1) on the Proposed Enactment of the Consumer Credit Act
The Consumer Credit Oversight Board Task Force has issued the first of a two-part consultation paper to the Consumer Credit Act to obtain feedback from interested parties and members of the public.
Taxpayer Succeeds Before the Malaysian High Court in Landmark Ruling on Transfer Pricing Adjustments
Wong & Partners successfully represented a Taxpayer before the Malaysian High Court in a landmark transfer pricing ruling against the Malaysian Inland Revenue Board.
Bank Negara Malaysia Issues the Bancassurance/Bancatakaful Policy Document
Bank Negara Malaysia (BNM) has issued the final Bancassurance/Bancatakaful Policy Document on 30 June 2022.
Extension of Payment Period for Phase 1 of the VA Program
The Malaysian Ministry of Finance and Customs Department have made an announcement in respect of the Voluntary Disclosure and Amnesty Program for indirect taxes.
New Content Code effective from 30 May 2022
The Malaysia Content Forum has now issued the revamped version of the Content Code, which applies to all content over the electronic networked medium such as broadcasts on the television, the radio and the internet.
Amendments to the Malaysian Franchise Act in force
In this alert, we summarise the key amendments introduced by the Franchise Amendment Act 2020, which seeks to amend the Franchise Act 1998.
Proposed Amendments to Competition Act 2010: Strengthening MyCC's Investigation and Enforcement Powers
Key amendments include introduction of a merger control regime and amendments to increase MyCC's investigation and enforcement powers.
Proposed Amendments to Competition Act 2010: Introduction of Merger Control Regime
Key amendments to the act include the introduction of a merger control regime and amendments to increase MyCC's investigation and enforcement powers and enhance its procedures.
Global Practice Guides for Fintech 2022 (Malaysia)
In this chapter for the Chambers and Partners Global Practice Guides for Fintech 2022, Sue Wan Wong, Joel Tan and Pei Ru Tan dissect the fintech market in Malaysia covering topics like roboadvisory, insurtech, regtech, blockchain and open banking.
Consultation Paper issued for the proposed new provisions and amendments to the Industrial Designs Act 1996
This proposed amendment is largely in line with ASEAN obligations as set out in the latest ASEAN IPR Action Plan 2016-2025.
Employment (Amendment) Bill 2021 - Key amendments to the Employment Act 1955
In this alert, we summarise the key amendments introduced by the Employment Bill 2021 that was passed in Dewan Negara (Senate).
Updates Regarding Taxation of Foreign-Sourced Income
We summarise the latest developments on the taxation of FSI and implications for taxpayers in this alert.
Personal Data Protection Department Issues New Guidelines, Circulars and Codes of Practice
These include a guide on privacy notices, new codes of practice applicable to the private healthcare industry and the water utilities industry, and circulars for classes of data users of their registration obligations.
Special Voluntary and Amnesty Program for Indirect Taxes
Minister of Finance announced that it will introduce a special voluntary disclosure program for indirect taxes as part of concerted measures to increase tax revenue for the Malaysian Government.
昨年の 2022 年度マレーシア予算案スピーチにおいて、財務大臣は、マレーシ ア政府の税収増につなげる共同策の一部として、間接税の特別自主開示プロ グラムを導入すると発表した。
Asia Pacific Competition Highlights, Q4 2021
This update was published as part of our quarterly newsletter, Asia Pacific Competition Highlights.
Malaysia: Upcoming amendments to the Patents Act
In this alert, we summarise the key amendments introduced by the Patents Bill 2021 substantively amends Malaysia's existing Patents Act 1983.
現行のマレーシア 1983 年特許法（「特許法」）を大幅に改正する 2021 年特許（改正）法案（「法案」）が、2021 年 12 月に国会で可決されました。本アラートは、同法案の主な改正点を纏めます。
New Licensing Framework for Digital Insurers and Takaful Operators
The document represents the next phase of Bank Negara Malaysia's initiative to encourage digitalization within the financial sector.
Key Changes to the Rules on Take-overs, Mergers and Compulsory Acquisitions
This alert focuses on key amendments introduced to the rules and a comparison against equivalent provisions under the Takeover Codes in the UK, Singapore and Hong Kong.
The Refined Labuan Tax Regime
The Labuan tax regime in 2019 came hand in hand with a myriad of ambiguities and uncertainties, which subsequent legislation and guidelines aimed to clarify.
Bank Negara Malaysia Issues Exposure Draft of Payment System Operator Policy Document
Exposure Draft intended to apply to all approved operators of a payment system under the Malaysian Financial Services Act.
Cloud services to be licensed from 1 January 2022: Updates
The MCMC has shed light on the scope of the licensing regime and the grace period for full compliance.
Anti-Sexual Harassment Bill 2021
The main aim of the bill is to establish a tribunal for the hearing of sexual harassment complaints and claims.
Copyright (Amendment) Bill 2021: Key amendments to the Copyright Act 1987
This alert sets out the notable key amendments proposed to the act.
Public Consultation on the Proposed Changes to the Copyright Act 1987
The MyIPO is set to collect feedback on the proposed changes and new provisions to the Copyright Act 1987 which are mainly aimed at updating and streamlining the provisions of the Copyright Act.
Public consultation on revamped Content Code until 10 December 2021
The Content Forum has issued a public consultation paper proposing changes to the prohibitions, restrictions and requirements on electronic content.
말레이시아 국가예산안 2022: 조세 부문 하일라이트
본 예산안은 주요 세금을 신규로 도입한다는 제안은 없었지만, RM100million를 초과하는 과세 소득분에 대해서는 일회성의 성격으로 과세하는 Cukai Makmur 세금을 제안했고, 말레이시아에서 받는 역외 원천 소득은 비과세하는 기존의 과세 조치를 폐지하는 등 주목할만한 변경 사항들이 있습니다. 본 자료는 예산안의 내용 중 조세 관련 주요 내용을 정리합니다.
Cloud Services to be Licensed from 1 January 2022
From 1 January 2022, cloud service providers must apply for a licence from the Malaysian Communications and Multimedia Commission.
Asia Pacific Competition Highlights, Q3 2021
This update was published in October 2021, as part of our quarterly newsletter. The full report covers the most notable antitrust developments across 11 Asia Pacific jurisdictions.
Bank Negara Malaysia Issues Policy Document on Merchant Acquiring Services
The MAS Policy Document focuses on risk management and applies to qualified acquirers and has introduced requirements in relation to minimum capital, governance, operations, IT and reporting obligations.
Recovery Planning by Bank Negara Malaysia
The Central Bank of Malaysia has issued a policy document that requires licensed banks to prepare a robust recovery plan for itself and its group in a significant stress event, such as an economic downturn or significant liquidity outflow.
Bank Negara Malaysia Issues Exposure Draft Bancassurance/Bancatakaful Policy Document
The Central Bank of Malaysia has issued an exposure draft on the proposed regulatory requirements for bancassurance and bancatakaful arrangements.
Ten Key Changes to the AIAC Arbitration Rules
The Asian International Arbitration Centre recently published its Arbitration Rules 2021. It presents a major overhaul and update to its 2018 predecessor both in form and substance.
Asia Pacific Competition Highlights, Q2 2021
This update was published in July 2021, as part of our quarterly newsletter. The full report covers the most notable antitrust developments across 10 Asia Pacific jurisdictions.
Tax Incentives for the Medical Device Manufacturing Sector in Malaysia
In part 2 of our series with Bloomberg Tax, we discuss the tax incentives that are relevant to the medical device manufacturing sector.
Recovering from Covid-19: Tax Measures and Incentives in Malaysia
In this three-part series, Wong & Partners discuss introduced tax incentives that may be available to MNEs contemplating the restructure or expand operations into Malaysia.
マレーシア腐敗防止委員会 は、321,350 マレーシアリンギット相当を下請け契約獲得のために供与した、企 業とその取締役を新しい企業責任規定に基づいて起訴した。
First Prosecution under the New Section 17A Corporate Liability Regime
MACC has charged a company and its director under the new corporate liability offence in connection with a count of bribery worth RM 321,350 paid to secure a subcontract.
Malaysian Federal Court Held Online Platform Provider Liable for Third-Party Content
Freedom of expression in Malaysia to be exercised within the bounds permissible by law.
Sungai Udang Waste-to-Energy Project RFP
The Malaysian Ministry of Housing and Local Government has announced that the request for proposal (RFP) for a waste-to-energy project in Sungai Udang, Malacca, will be released on 18 February 2021.
マレーシア ： 移転価格文書の提出を怠った場合の ペナルティ
2020 年マレーシア金融法は、移転価格に関して 1967 年マレーシア所得税法 （「ITA」）に幾つかの法改正を導入した。特に、ペナルティ条項が導入された。
The UK Business Interruption Insurance Test Case
The UK Supreme Court delivered its much-anticipated judgment in the Financial Conduct Authority v Arch Insurance (UK) Limited and Others UKSC 1 in respect of a representative sample of business interruption property insurance policies.
Penalty for Failure to Furnish Transfer Pricing Documentation
In light of recent legislative amendments, failure to furnish transfer pricing documentation within the stipulated time may result in taxpayers being penalise.
新冠病毒（COVID-19）- 2021 年紧急（基本权力）条例
马来西亚国家最高元首 于 2021 年 1 月 12 日宣布国家进入紧急状 态。此宣布是基于马来西亚新冠病毒疫情 确诊病例的攀升，以及为了 支援在全国（除了砂拉越）重启至 2021 年 2 月 4 日的行动管制令。
Bank Negara Malaysia Provides Six-month Window for Digital Bank Licence Applications
Bank Negara Malaysia issues Licensing Framework for Digital Banks and indicated that it may issue up to five digital bank licences.
말레이시아: 비상 (필수 조치) 명령 2021
2021 년 1 월 12 일에 말레이시아 국왕 (Yang di-Pertuan Agong)은국가비상사태를 선포했습니다. 이는 말레이시아에 확산되는 코로나바이러스를 억제하기 위해 모든 연방 주, 페낭, 조호, 멜라카, 셀랑고, 사바에 2021 년 1 월 26 일까지 시행되는 이동통제명령을 지원하기 위함입니다.
Emergency (Essential Powers) Ordinance 2021
This alert highlights the key components under the newly gazetted Emergency (Essential Powers) Ordinance 2021 deemed to have come into operation on 11 January 2021.
말레이시아: 코로나바이러스 확산 억제를 위한 이동통제명령 재시행
2021 년 1 월 11 일에 말레이시아 수상은 코로나바이러스의확산을억제하기 위해 2021 년 1 월 13 일부터 1 월 26 일 까지 이동통제명령을 재시행한다고 발표했습니다. MCO 기간동안 다음과 같은 다양한 형식의 이동통제명령이 시행됩니다.
COVID-19 - Reimplementation of the Movement Control Order
An update on the measures taken by the Malaysian Government to curb the resurgence of COVID-19.
旨在回应马来西亚新冠病毒疫情 确诊病例的攀升，马来西亚国家最高 元首 根据《马来西亚联邦宪法》第 150 条于 2021 年 1 月 12 日发 布了紧急公告，从而宣布了国家进入紧急状态。
COVID-19: Declaration of Emergency
In response to the rising numbers of COVID-19 cases in Malaysia, the Yang di-Pertuan Agong has issued a Proclamation of Emergency, which will be in force until 1 August 2021.