Chartered Secretaries Malaysia (MAICSA)

Updated: 14 Mar 2025

Federal Legislation - Finance Act 2024, Measures For The Collection, Administration and Enforcement Of Tax Act 2024 and Labuan Business Activity Tax (Amendment) (No. 2) Act 2024

On 31 December 2024, Federal Government gazetted the following Acts which had received the Royal Assent on 24 December 2024:

1.	Finance Act 2024
The Act provides amendments to the Income Tax Act 1967, the Real Property Gains Tax Act 1976, the Stamp Act 1949, the Petroleum (Income Tax) Act 1967, the Finance Act 2012 and the Finance (No. 2) Act 2023. Please click here for further details.
2.	Measures For The Collection, Administration and Enforcement Of Tax Act 2024
The Act provides measures relating to the implementation of the collection, administration and enforcement of tax by amending the Income Tax Act 1967, the Real Property Gains Tax Act 1976, the Stamp Act 1949, the Petroleum (Income Tax) Act 1967, the Windfall Profit Levy Act 1998, the Sales Tax Act 2018 and the Service Tax Act 2018. Please click here for further details.
3.	Labuan Business Activity Tax (Amendment) (No. 2) Act 2024
The Labuan Business Activity Tax Act 1990 (principal Act) was amended in sections 2(a), (b), (c), (d), (e), 2B, 5, 6, 6A, 6B, 8A, 10, 14, 20, 21, 21B, 22DA, 24, 26, 27, and added new sections 21C, 22EB, 23A, 23B, 23C, 27A, 27B and 27C, substitution of sections 11 and 23, and deletion of sections 13, 13A, 25, application of sections 28 and 29 relating to year of assessment 2025, and saving and transitional provision. Please click here for further details.