High Court: Priority of Wages Over Debenture Debts in Liquidation
In Perwaja Steel Sdn Bhd (in receivership) v. RHB Bank Berhad and 789 Others, the High Court has delivered its grounds of decision with a publication date of July 18, 2019. The case involved a company undergoing liquidation with insufficient funds to pay both the employees’ wages and the debenture holder’s debts. In accordance with […]
The Finance Bill 2023 was tabled for the first reading
The Finance Bill 2023 was tabled for the first reading in the Dewan Rakyat today by YB Tuan Steven Sim Chee Keong – Timbalan Menteri Kewangan. The Finance Bill 2023 can be downloaded here: Disclaimer: The articles, templates, and other materials on our website are provided only for your reference. While we strive to ensure […]
IRBM’s Response to CTIM on Deduction for the Sponsorship of Scholarship to Malaysian Students
“Income Tax (Deduction for the Sponsorship of Scholarship to Malaysian Student Pursuing Studies at Technical and Vocational Certificate, Diploma, Bachelor’s Degree, Master’s Degree or Doctor of Philosophy Levels) Rules 2022” (P.U.(A) 49/2022) was gazetted by the Malaysian government on March 7, 2022, to implement an extension and expansion of the Double Deduction for companies that […]
IRBM’s Response to CTIM on Tax rebate under Section 6D of the Income Tax Act 1967
In Malaysia, a tax rebate for the company or limited liability partnership under section 6D of the Income Tax Act 1967 refers to a tax incentive the Malaysian government provides to eligible companies and limited liability partnerships. The tax rebate is a form of tax relief where the taxable income of the company or limited […]
IRBM’s Response to CTIM on Amended Guidelines on Deduction for Secretarial & Tax Filing Fees
On August 17, 2022, the IRB updated the guidelines it had previously published on its website regarding tax deductions for payments associated with tax and secretarial filing fees. The guidelines are in Bahasa Malaysia and are named “Pindaan Garis Panduan Potongan Bagi Perbelanjaan Berhubung Dengan Yuran Kesetiausahaan Dan Yuran Pemfailan Cukai Mulai Tahun Taksiran 2022” […]
IRBM’s Response to CTIM on 2% tax deducted under Section 107D of the Income Tax Act 1967
The Inland Revenue Board of Malaysia has issued their responses dated 29 December 2022 to CTIM members’ issues dated 21 September 2022 on the following:- In this article, we will focus on item No 1, the 2% tax deducted under Section 107D of the Income Tax Act 1967, while items No 2 to 4 will […]
