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Shearn Delamore & Co. Legal Update March 2021 (2) 

by Christina Kow, Anand Raj, Pamela Kung, Irene Yong, Foong Pui Chi

Published: March, 2021

Submission: March, 2021

 



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


[email protected]


(Tel)+603 2027 2786


(Fax)+603 2070 4445



Pamela Kung


Partner


Financial Services


Energy, Natural Resources & Green Technology


Infrastructure & Project


Private Client & family Business


[email protected]


(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:


  1. Tourism Tax (Rate of Digital Platform Service Provider Tax) Order 2021;
  2. Tourism Tax (Digital Platform Service Provider) (Exemption) Order 2021.


Prepared by:


Anand Raj


Partner


Tax & Revenue (Head)


Competition & Antitrust (Co-Head)


[email protected]


(Tel)+603 2027 2828


(Fax) +603 2070 4445



Irene Yong


Partner


Tax & Revenue


Personal Data Protection & Privacy Law


Technology, Media & Telco


[email protected]


(Tel)+603 2027 2923


(fax)+603 2072 6503



Foong Pui Chi


Partner


Tax & Revenue


Private Client & Family Business


[email protected]


(Tel)+603 2027 2641


(Fax)+603 2072 6503



CONTACT US FOR FURTHER INFORMATION REGARDING TAX AND REVENUE LAW MATTERS.



 


 

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