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Print articleShearn Delamore & Co. Legal Update March 2021 (2)
March, 2021 - Christina Kow, Anand Raj, Pamela Kung, Irene Yong, Foong Pui Chi
FINANCIAL SERVICES
Relaxation of FEP requirements on interest rate swap
Bank Negara Malaysia has announced that nonresident banks may trade ringgit denominated interest rate swap without any underlying commitment with any participating onshore licensed banks and their appointed overseas offices (“AOOs”) with effect from 15th March 2021. This is part of its initiative to promote a more liquid domestic market to lower hedging costs for corporates and asset managers and funding costs for onshore banks.
Pepared by:
Christina S. C. Kow
Partner
Financial Services (Head)
Personal Data Protection & Proivacy Law
Technology, Media & Telco
(Tel)+603 2027 2786
(Fax)+603 2070 4445
Pamela Kung
Partner
Financial Services
Energy, Natural Resources & Green Technology
Infrastructure & Project
Private Client & family Business
(Tel)+603 2027 2688
(Fax)+603 2070 4445
CONTACT US FOR FURTHER INFORMATION REGARDING FINANCIAL SERVICES MATTERS.
TAX & REVENUE
Tourism tax
The following Orders have been gazetted on 16 March 2021 and will come into operation on 1st July 2021:
- Tourism Tax (Rate of Digital Platform Service Provider Tax) Order 2021;
- Tourism Tax (Digital Platform Service Provider) (Exemption) Order 2021.
Prepared by:
Anand Raj
Partner
Tax & Revenue (Head)
Competition & Antitrust (Co-Head)
(Tel)+603 2027 2828
(Fax) +603 2070 4445
Irene Yong
Partner
Tax & Revenue
Personal Data Protection & Privacy Law
Technology, Media & Telco
(Tel)+603 2027 2923
(fax)+603 2072 6503
Foong Pui Chi
Partner
Tax & Revenue
Private Client & Family Business
(Tel)+603 2027 2641
(Fax)+603 2072 6503
CONTACT US FOR FURTHER INFORMATION REGARDING TAX AND REVENUE LAW MATTERS.
