Sexual Harassment Prevention Notice
Parliament made history when the Anti-Sexual Harassment Bill 2021 was passed Following a vote on July 20, 2022, Dewan Rakyat has decided to move on with the passage of a bill that will make it possible to enact laws protecting both men and women from sexual harassment. And the law is for all Malaysians, as […]
IRBM’s Response to CTIM’s Development Cost for Customised Computer Software
Income Tax (Capital Allowance) (Development Cost for Customised Computer Software) Rules 2019 On 3 October 2019, the Minister, in the exercise of the powers conferred by paragraphs 154(1)(b), 33(1)(d) and paragraphs 10 and 15 of Schedule 3 to the Income Tax Act 1967 [Act 53], gazetted the Income Tax (Capital Allowance) (Development Cost for Customised […]
An Overview of the Amendments to Employment Act 1955
1. The Employment (Amendment) Bill 2021 (“the Bill”) was presented on October 25, 2021. 2. Dewan Rakyat approved the Employment (Amendment) Bill 2021 on March 21, 2022. 3. Dewan Negara passed the Employment (Amendment) Bill 2021 on March 30, 2022. 4. The Employment (Amendment) Act 2022 was gazetted into law on May 10, 2022. 5. […]
IRBM’s Response to CTIM’s Transfer Pricing Issues
CTIM’s transfer pricing issues have received a response from the Inland Revenue Board of Malaysia (IRBM), which was provided on February 15, 2022. The following is a response from the IRBM to the points that CTIM made: 1. On the threshold for preparation of transfer pricing (“TP”) documentation IRBM acknowledges the need to revise the […]
Budget 2023
Latest Update: The tabling of the 2023 Budget will take place on Oct 7, instead of Oct 28, as previously scheduled According to information that can be found on the website of the Parliament [https://www.parlimen.gov.my/takwim-dewan-rakyat.html?&uweb=dr&id=3&ssid=5&lang=bm], the presentation of the Budget 2023 will take place on Friday, October 28, 2022. The Ministry of Finance (MOF) has […]
MOF – TERAS 2.0 for the Application and Renewal of Tax Agent Licence
In order to facilitate the application for and renewal of income tax agent licences, the MyCukai Single Sign On (SSO) has been upgraded to the TERAS 2.0 (“Treasury Authentication System 2.0”) authentication system. In order to continue with the process of renewing their income tax agent licences, users of MyCukai are needed to first register […]
PR No. 1/2020 – Application for Review
On July 29, 2020, the RMCD published two new public rulings in the national language on review applications and drawback facilities on imported goods that are subsequently re-exported. Both of these rulings came into effect on that date. Amendments to the Public Ruling No. 1/2020 An amended version of the Public Ruling No. 1/2020 was issued on […]
The latest updates and issues in claiming RA for Manufacturing Activities
The Reinvestment Allowance (RA) is an incentive provided to Malaysian resident companies involved in the manufacturing industry and specified agriculture sector. The purpose of this incentive is to encourage these companies to reinvest and grow their companies. Eligibility to Claim Reinvestment Allowance For these companies to be eligible for the RA incentive, they must have […]
What does HR actually Do?
If you have ever worked in a company, you probably found the human resources department to be the most perplexing of all the departments in that company. The problem with the human resources (HR) department is that everyone in the company is aware of its significance. Still, only a tiny percentage of the people who […]
Conceptual Framework for Financial Reporting | 财务报告概念框架
Introduction Since its founding in 2001, the International Accounting Standards Board (IASB) has had a profound impact on the global landscape of financial reporting for companies. But it was the International Accounting Standards Committee (IASC), during its 27 years of existence from 1973 to 2000, that laid the groundwork for the International Accounting Standards Board […]
