Latest Development on FORUM OF HARMFUL TAX PRACTICES (FHTP) THE ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT (OECD) TAXATION INITIATIVES (OECD)
June 25, 2018
Below is the extract from a website from our government's MOF website relating to the subject mentioned. To folks calling us on a daily basis for queries - please refer to this link. To those who are already enjoying the MSC Status, BioNexus, Pioneer Status, etc incentives, you are affected too. Contact us for more information on how you can / should do to comply to the new structure.
To those repeatedly asking us this question of "Why is it that the final cut off date for MSC Incentives approvals stated in the below webpage in MOF is 30th June 2018 but the approval has stopped for the entire month of June?". We have no answers. Please contact MDEC directly. We are severely affected as well. Thus, again, we would like to reiterate that we are a consulting firm, we do not speak for any government agencies.
MALAYSIA’S PARTICIPATION IN FORUM OF HARMFUL TAX PRACTICES (FHTP) THE ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT (OECD) TAXATION INITIATIVES (OECD)
In order to address the issue of base erosion and profit shifting, the Organization of Economic Cooperation and Development (OECD) and the G20 countries introduced Base Erosion and Profit Shifting (BEPS) Action Plan as international taxation standard. The plan consists of 15 actions to address BEPS issues.