FAQs on the implementation of Tax Identification Number, TIN
1. As a strategy to increase tax compliance while broadening the tax base, Malaysians over the age of 18 and business entities will be issued a TIN, which is similar to the procedure in many other countries. 2. The Income Tax Act 1967 (“the Act”) accordingly added a new section, section 66A, to give effect […]
Income Tax (Deduction for Invt. in a Project of Commercialisation of R&D Findings) Rules 2022
1. On 6 January 2022, the Minister, in the exercise of the powers conferred by paragraph 154(1)(b) read together with paragraph 33(1)(d) of the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Deduction for Investment in a Project of Commercialisation of Research and Development Findings) Rules 2022 [P.U. (A) 3] 2. These Rules […]
Income Tax (Deduction for Expenditure in relation to Vendor Development Programme (VDP) Rules 2022
1. With effect from Year of Assessment 2021, Anchor Enterprises can claim double deductions for eligible expenses made to encourage increased participation in the development of local vendors. 2. The eligible expenditure of up to RM300,000 every assessment year 3. Join our Telegram 👉 https://t.me/YourAuditor/2535 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. 从2021年的评估年开始，为了鼓励更多的人参与本地供应商的发展，锚点企业 [Anchor Enterprises] 所产生的合格支出，将享有双重扣除的资格。 2. 每个评估年度，高达 3百千令吉的合格支出享有双重扣除的资格 3. […]
Sales and Service Tax – Guide on Motor Vehicle Services or Repair
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Sales and Service Tax – Guide on Parking Services
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Sales and Service Tax – Guide on Food and Beverages
1. Last month, The Royal Malaysian Customs Department’s MySST website issued an updated edition of the Industry Guide on Food and Beverages (as of 27 December 2021) to replace the previous version, which was published on the department’s website on the 23rd of August, 2018. 2. The RMCD has clarified some issues and included new […]
IASB Exposure Draft ED 2021 10 Supplier Finance Arrangements
1. The Malaysian Accounting Standards Board (MASB) invites public comment to formulate responses to the International Accounting Standards Board (IASB) and the IFRS Interpretations Committee (IFRIC). 2. The deadline for comment on the Exposure Draft is 28 February 2022 – https://lnkd.in/edGZBDVu 3. Join our Telegram 👉 https://t.me/YourAuditor/2535 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. 马来西亚会计准则委员会（MASB）邀请公众发表意见，以回应国际会计准则委员会（IASB）和国际财务报告准则解释委员会（IFRIC）的这项拟议修正。 2. 对征求意见稿提出意见的截止日期是2022年2月28日 – https://lnkd.in/edGZBDVu 🌼🌼🌼🌼🌼🌼🌼🌼🌼🌼 […]
IASB Exposure Draft ED 2021 9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1)
1. The Malaysian Accounting Standards Board (MASB) invites public comment to formulate responses to the International Accounting Standards Board (IASB) and the IFRS Interpretations Committee (IFRIC). 2. The deadline for comment on the Exposure Draft is 22 February 2022 – https://lnkd.in/edGZBDVu 3. Join our Telegram 👉 https://t.me/YourAuditor/2535 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. 马来西亚会计准则委员会（MASB）邀请公众发表意见，以回应国际会计准则委员会（IASB）和国际财务报告准则解释委员会（IFRIC）的这项拟议修正。 2. 对征求意见稿提出意见的截止日期是2022年2月22日 – https://lnkd.in/edGZBDVu 3. […]
