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M’sia agrees to implement global minimum tax on multinational companies

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He said the implementation of the tax system is to make sure business entities pay their taxes fairly to the host countries and avoid tax leakages. theSun thesundaily tax multinationalcompanies InlandRevenueBoard

: Malaysia has agreed in principle to implement global minimum tax of 15 per cent on certain multinational companies , said Inland Revenue Board chief executive officer Datuk Mohd Nizom Sairi.

“Malaysia is actively involved in the working group discussions to ensure the interests of developing economies such as Malaysia are not left out of the policies made by OECD,” Mohd Nizom told reporters after officiating the Third Malaysia Tax Policy Forum here, today. The IRB is also monitoring the MNCs operating in Malaysia and local companies operating in foreign countries to identify whether there is the occurence of transfer pricing.

 

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