04:05
ADVERTORIAL
ISSUE 4
Asia Briefing from Dezan Shira & Associates
The Cyber Security Act 2024, officially gazetted on June 26, 2024, by the Attorney General’s Chambers, marks a significant advancement in Malaysia’s efforts to fortify its digital defences. This legislation represents a comprehensive legal framework to safeguard the nation’s critical information infrastructure (CII) against an increasingly complex landscape of cyber threats. The Act establishes the National Cyber Security Committee and delineates the responsibilities and authority of the Chief Executive of the National Cyber Security Agency (NACSA). It also sets out specific roles for CII sector leads and entities. A notable feature of the Act is its focus on cybersecurity service providers, mandating a licensing regime to ensure that only qualified entities are authorised to deliver cybersecurity services. ASEAN Briefing summarises what businesses need to know about Malaysia’s Cyber Security Act 2024.
China amended its individual income tax (IIT) system in 2019, introducing a “six-year rule” to determine the tax responsibilities of foreigners for their overseas income in China. This year is the first year that this rule is applicable. Under China’s amended IIT system , foreign individuals who do not have a domicile but reside in China for 183 days or more per calendar year are considered tax residents. A foreign individual who remains a tax resident in China for over six years will be taxed on their global income, including income sourced outside China and paid by overseas parties. Dezan Shira’s China Briefing provides a comprehensive overview of the “six- year rule” and practical solutions for effective tax management.
Made with FlippingBook - Online magazine maker