Press Release – 2% Withholding Tax on Payment (Commission) Made To Agent

1. The 2% Withholding Tax that must be withheld from commission payments to agents, dealers, and distributors has been a source of confusion for many businesses. 👉 What exactly is going on? 👉 Is there any news? 👉 Have the Remittance Forms been made available yet? 2. In reality, it appears that many people, maybe […]

Income Tax (Accelerated Capital Allowance) (Excursion Bus) (Amendment) Rules 2022

1. Excursion Bus purchases made between YA 2020 and YA 2021 are eligible for an Accelerated Capital Allowance (ACA) on capital expenses incurred by licensed tour operators. 2. The ACA given by the Income Tax (Accelerated Capital Allowance) (Excursion Bus) Rules 2021 can be claimed within two years, with an initial allowance of 20% and […]

Something About Form TP 1

1. New versions of the TP 1 and TP 3 forms have been uploaded to the official website of the Inland Revenue Department for use in 2022. 2. What is the purpose of these two forms and how do they differ? Today, let’s take a closer look at the TP 1 form.3. To download Form […]

Statutory Minimum Wages: Why Pay Raise is Important?

1. Malaysia put in place a minimum wage system in 2013, which affects all employees except for those who work in the home [domestic workers] – – 2. Under the National Wages Negotiating Council Act 2011 (Act 732), the Council is required to review minimum wage orders at least once every two years. However, […]

2 – The Employment Act 1955 | 1955 年劳工法令

1. Employment laws in Malaysia are governed by the Employment Act 1955, which handles employment matters in the private sector. It offers employees protections in terms of the basic minimum of employment conditions. 2. But not all employees are entitled to these safeguards under the Labour Act 1955, as the following types of employees are […]

11 – Recording Transactions

Bookkeeping – Everyone Can Do It 11 – Recording Transactions – PDF 1. 编制财务报表是记录交易的最后阶段,也是最耗时的步骤。 2. 而整个过程,却是从收到或创建一个适当的文件记录开始 3. 加入我们的 Telegram – 🌻🌻🌻🌻🌻🌻🌻🌻🌻🌻 1. The preparation of financial statements is the final and most time-consuming stage of recording transactions. 2. The whole process, however, begins with the receipt or creation of an appropriate documented record 3. […]