Key Regulatory Bodies that Govern Taxation in Malaysia.

1. Inland Revenue Board of Malaysia.

• The Department of Inland Revenue Malaysia became a board on March 1, 1996, and is now formally known as IRBM.
• It is also known as Lembaga Hasil Dalam Negeri (LHDN).
• The board was established in accordance with the Inland Revenue Board of Malaysia Act 1995.
• This department oversees income tax, petroleum income tax, stamp duty and real property gains tax.

2. The Royal Malaysian Customs Department.

• The Royal Malaysian Customs Department oversees goods and services tax, customs duty and excise duty.
• It is the government agency responsible for administrating the nation’s indirect tax policy, border enforcement and narcotic offences.