The Malaysian Finance Bill 2020 was released following the tabling of the Malaysian 2021 Budget on 6 November 2020. The Finance Bill 2020
incorporates transfer pricing-related changes to the current Income Tax Act, 1967 (“ITA”).
The changes permit significantly greater authority to the Malaysia Inland Revenue Board (“MIRB”) and re-emphasises the importance of TP compliance, with effect from 1 January 2021.
Transfer Pricing Solutions Malaysia can assist with the preparation of TP documentation locally and regionally, Master File and Local File
to comply with the OECD and also local legislation.