An entertainment expense that is wholly and exclusively incurred in the production of gross income under subsection 331 of the ita is allowed a deduction of fifty percent 50 only unless that expense falls within any of the specified categories in provisos i to viii of paragraph 391l of the ita then it qualifies for a deduction of. The entertainment industry in Selangor is hoping that the state government will look into waiving the entertainment tax to get them through tough times.
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SHAH ALAM The Selangor government has agreed to a one-year entertainment duty exemption for entrance fees tickets for stage performances by local artistes effective January 1 to December 31 2022.
. In December Menteri Besar Datuk Seri Amirudin Shari defended an earlier decision. The entertainment duty exemption will also apply to live band performances for this year. Malaysia cannot realise its dreams of becoming a theme park capital in South-east Asia as our regional peers do not have punitive entertainment tax.
Therefore such expenses will follow the tax treatment of entertainment that is 50 of such promotional expenses incurred in the production of income are not tax deductible unless they fit into the following exceptions where The definition of entertainment with effect from YA 2014 now reads as follows words in bold denote the new insertion. The Selangor state government today clarified that the imposition of a 15 percent tax on ticketed entertainment performances was actually a reduction from the original 25 percent. But he too said that the tax was not the only major problem in Malaysias film industry.
I am invited to perform in Malaysia. For example he said international movies are given. The supply of your service in Malaysia is taxable supply.
Friday 08 Apr 2022 421 PM MYT SHAH ALAM April 8 The Selangor government has agreed to a one-year entertainment duty exemption for the entrance fees tickets for stage performances by local artistes effective January 1 to December 31 2022. The Malaysian Association of Film Exhibitors MAFE released a statement seeking clarification on entertainment tax exemption situation in Selangor that has excluded them. Bernama Tue Feb 02 2021 Amiruddin said the implication of this rate reduction is that the Selangor government is estimated to lose a revenue of RM2104 million a year for the five-year period.
Menteri Besar Datuk. In the statement cinema. Film producer Kamal Akram Ibrahim acknowledged that the 25 entertainment tax appeared steep given the difference between cinemas and other entertainment centres such as night clubs and karaoke centres.
GUIDE ON ENTERTAINMENT INDUSTRY As at 18 APRIL 2016 9 Q9. An entertainment expense that is wholly and exclusively incurred in the production of gross income under subsection 331 of the ita is not allowed a deduction of fifty percent 50 unless the entertainment expense falls within any of the specified categories in proviso i to viii of paragraph 391l ita then it qualifies for a deduction. However for a non- resident who has no business or fixed establishment in Malaysia then your agent has to account for GST under the reverse charge mechanism.
The collection of entertainment tax is under the jurisdiction of the local authority in the respective states and presently the entertainment tax in. The state government agreed to reduce the entertainment tax rate from 25 per cent to five per cent on every entrance ticket for five years. Bernama pic April 8 2022.
On top of the 25 per cent entertainment tax theme park operators also have to pay an additional 35 per cent tax for importing theme park-related equipment. KUALA LUMPUR Big names in Malaysias performance arts scene have thrown their weight behind a push for a waiver on an entertainment tax imposed by the Selangor government a move they fear could put an end to the careers of local artists. Similarly organisations of arts activities or ticketed events for local artists were also granted a reduced entertainment tax rate at 15 per cent instead of 25 per cent with the new rate announced during the Selangor Budgets October 30 2020 tabling and enforced since January 1 2021.
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