IRBM – Anti-Bribery & Compliance of Code of Ethics for s.153(3) Tax Agents
Following the issuance of the Revised Code of Ethics for Tax Agents by the Malaysian Inland Revenue Board (HASiL) on January 1, 2023, HASiL has introduced the ‘Akuan Bebas Rasuah dan Pematuhan Kod Etika Ejen Cukai dibawah Subseksyen 153(3), ACP 1967 (Declaration)‘. We believe some of the tax agents who have just obtained or have […]
Practice Note 1/2023 – Explanation on the tax treatment on forex gain & losses under PITA 1967
The Inland Revenue Board of Malaysia (HASiL) issued Practise Note No. 1/2023 on 15 June 2023 to explain how foreign exchange (forex) gains and losses are taxed for a chargeable person under the Petroleum (Income Tax) Act 1967 (PITA) based on the rules set out in Public Ruling No. 12/2019 and MFRS 121 Guidelines. Foreign […]
Offer to Compound Offences Under Copyright Act 1987
The Copyright (Compounding of Offences) Regulations 2023 [P.U. (A) 265/2023] allow certain copyright offences to be settled by paying a fine instead of going to court. The offences that can be compounded are listed in Schedule 1 of the regulations. The compounding process involves issuing a compound offer, which the offender can accept. Payment of […]
Update on Employment Laws: Employment (Exemption) Order 2012 Revoked
The Employment (Exemption) (Revocation) Order 2023 [P.U. (A) 257/2023], gazetted on 29 August 2023, revokes the Employment (Exemption) Order 2012 and will be effective from 1 September 2023. The Minister of Human Resources, Sivakumar A/L Varatharaju Naidu issued the order. The Employment (Exemption) Order 2012 is a regulation that grants exemption from certain sections of […]
