GPMYS: Global Payroll Malaysia Legislative Changes for Tax Year 2023
(Doc ID 2902824.1)
Last updated on MARCH 09, 2023
Applies to:PeopleSoft Enterprise HCM Global Payroll Malaysia - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
The intent of this document is to describe solutions for problems or questions related to Global Payroll Malaysia Legislative Changes for Tax Year 2022-2023 This solution applies to customers on PeopleSoft Release 9.2. This is a living document and will be updated as new solutions are created; please review thoroughly on a regular basis.
Please see table below for details.
|Legislative Change||Effective Date||Additional Info||P1 Patch Fix Target Date||Targeted into PUM Image/Patchset|
MALAYSIA BUDGET CHANGES FOR THE YEAR 2023
Based on the re-budget presented on Feb 24th 2023
|1st Jan 2023||
The following changes are proposed by the Government of Malaysia.
2) Proposes to the annual tax relief of RM3,000 for life insurance premiums or takaful contributions will be expanded to include voluntary Employees Provident Fund (EPF) contributions the existing relief of RM3,000 on life insurance premiums is expanded to cover voluntary EPF contributions.effective Year of assessment 2023.
Pum Image# 46
You need to apply the critical patches / GP Updates whenever their legislative fixes are posted
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