Malaysia's 2018 Budget – BEPS And CRS Coming Soon

Malaysia's 2018 Budget includes a number of initiatives to help drive the economy. But the most important action for the business community to prepare for is the implementation of BEPS action points and the CRS.

Malaysia's 2018 Budget was unveiled on 27 October by Prime Minister and Minister of Finance 'Datuk Seri Najib Tun Razak. There are a number of business-focused initiatives in the budget, which will be actioned over the course of the next year. One of the highlights of the budget is Malaysia's commitment to joining the OECD's Base Erosion and Profit Shifting (BEPS) and Common Reporting Standard (CRS) information-sharing initiatives in September 2018. I will outline more about these initiatives below, but first let's take a brief look at other budget initiatives for business.