Tag: Malaysia

Tax Matters: Digital service tax updates create even more uncertainties

The Royal Malaysian Customs Department (RMCD) recently released a series of updates on the digital service tax framework, which officially went into force on Jan 1. Released in April, the rules — which apply retroactively now — exempt local banks and financial institutions (FIs) from having to levy the 6% tax when charging fees on transactions that pass through their networks.  Deloitte Malaysia partner for indirect tax Senthuran Elalingam...

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Iranian Oil Shipments To China Rebranded In Malaysia To Circumvent Sanctions

Like its Latin American ally, Venezuela, Iran appears to be rebranding its crude oil destined for China in Malaysia to circumvent U.S. sanctions. Data provided to Radio Farda by data intelligence firm Kpler indicates that Iran has suddenly increased oil exports to Malaysia since January. At the same time, official figures show a huge drop in Iranian oil exports to China in the first four months of 2020. This...

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Malaysian authorities seize record 6 tons of African pangolin scales

On April 1, authorities seized more than 6 tons of African pangolin scales in Port Klang, Malaysia. This is the biggest shipment of pangolin scales ever to be discovered in this particular port. The exact origins of this shipment are unknown, especially since traffickers frequently change their routes. Pangolins are the most trafficked animal in the world, with over 1 million animals taken from the wild and traded since...

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