Exploring The IESBA Code Installment 12 – The Building Blocks Installment
1. The International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) sets out the fundamental principles of ethics for professional accountants (PAs), reflecting the profession’s public interest responsibility. The principles apply to all PAs irrespective of their roles and responsibilities. 2. Together with the Code’s conceptual framework, the principles provide a […]
Exploring The IESBA Code Installment 11 – The Role and Mindset Expected of Accountant: Focus on Bias
1. In order to meet their obligations under the Code and support the profession’s responsibility to act in the public interest, professional accountants (PAs) need to understand the expectations that come with their role and adopt the appropriate mindset. The IESBA’s Role and Mindset project clarifies these obligations in new provisions that become effective December […]
Exploring The IESBA Code Installment 10 – Pressure to Breach the Fundamental Principles
Exploring The IESBA Code Installment 10 – Pressure to Breach the Fundamental Principles – PDF Exploring The IESBA Code Installment 10 – Pressure to Breach the Fundamental Principles 1. Because of the wide range of professional services that Professional Accountants (PAs) perform, they may be under pressure from a client, supervisor, or other individuals (for […]
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 […]
LHDNM responses to clarification sought on FAQ on deferment of CP204 & CP500 installments
LHDNM Responses – Deferment of CP204 & CP500 payment 12
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] – – http://minimumwages.mohr.gov.my/index.php/ms/ 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, […]
Exploring The IESBA Code Installment 9 – Responding to Non-Compliance with Laws and Regulations
1. This publication deals with Professional Accountants in Public Practice (PAPPs) and this topic relating to public accountants in business is discussed in Installment 8. 2. The acknowledgment of duty to act in the public interest is a distinctive feature of the accountancy profession. professional accountants in public practice (PAPPs) may encounter instances in which […]
Exploring The IESBA Code Installment 8 – Non-Compliance with Laws and Regulations [for PAIBs]
1. This installment addresses NOCLAR for professional accountants in business (PAIBs). 2. The acknowledgment of duty to act in the public interest is a distinctive feature of the accountancy profession. Professional accountants may encounter instances in which they discover or suspect that their employer or a client is in non-compliance with laws and regulations. 3. […]
