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The Inland Revenue Board (“IRB”) has published the implementation timetable and FAQs for the implementation of GMT in Malaysia. The GMT legislation was incorporated into the Finance (No. 2) Act 2023 on December 29, 2023.
The salient points of the implementation timeline and FAQs are as follows:
The IRB is in the process of drafting the GMT guidelines and intends to publish them prior to implementation in 2025.
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Chiu Yen Lim
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