Sales Tax (Goods Exempted from Tax)(Amendment) (No. 2) Order 2023
The Sales Tax (Goods Exempted from Tax) (Amendment) (No. 2) Order 2023 [P.U. (A) 401/2023] amended Schedule A of the Sales Tax (Goods Exempted from Tax) Order 2022 [P.U. (A) 175/2022]. It was gazetted on 28 December 2023 and will be effective from 1 January 2024. The amendment specifically alters Schedule A, focusing on heading 90.25. […]
Customs (Prohibition of Imports)(Amendment)(No 2) Order 2023
The purpose of the Customs (Prohibition of Imports) (Amendment) (No. 2) Order 2023 P.U. (A) 398/2023] is to amend existing regulations concerning the importation of certain substances into the country. These amendments are made to the Second Schedule of the Customs (Prohibition of Imports) Order 2023 [P.U. (A) 117/2023], in Part I, about item 13, […]
Guidelines on Adequate Procedures pursuant to S17A(5) under the MACC Act 2009
The guidelines are designed to aid commercial organisations in enhancing their anti-corruption measures. They provide a comprehensive framework for establishing effective monitoring programs, conducting audits, and ensuring that all employees are well-informed about anti-corruption policies through training and communication. The Minister holds the power to modify these guidelines as necessary. To illustrate the application of […]
Does Section 48 Require E-Invoices for Child Deductions (Tax Relief)
For individuals claiming personal tax relief purposes, we have to refer to Section 48 of the Income Tax Act 1967, which is read as follows: 48(1) [Deduction for child] Subject to this section, where an individual is a resident for the basis year for a year of assessment— (a) pays (wholly or in part) in […]
New Chapter 9: Section 65F – Disposal and Acquisition of Capital Asset
Finance (No. 2) Act 2023 proposes that New Chapter 9 be introduced. Part III of the Income Tax Act 1967 is amended by inserting after Chapter 8 the following chapter: “Chapter 9 – Gains or Profits from the Disposal of Capital Asset“ Disposal and Acquisition of Capital Asset Section 65F. (1) Except where this section […]
🎉 Congratulations to Benjamin on Passing the ICAEW Audit & Assurance Paper! 🎊
A round of applause for Benjamin, our dedicated team member, for conquering the ICAEW Audit & Assurance paper with flying colours! 🌟 Your hard work and commitment have paid off, marking a significant achievement in your professional journey. Your success inspires all of us at CCS, demonstrating the power of dedication and perseverance. We are […]
Understanding E-Invoice Guidelines for Non-Business Rentals
Question: For individual landlords not doing business, they rent a house to another individual who is not doing business as well, need to issue an e-invoice? Answer: Based on the e-invoice guidelines, if an individual landlord who is not conducting any business rents out a residential property to another individual for personal use, then e-invoicing […]
Outstanding Achievement in passing the ACCA Exam – Advanced Audit and Assurance (AAA)
🎉 Congratulations, Kah Mun, on your outstanding achievement in passing the ACCA exam – Advanced Audit and Assurance (AAA)! 🌟 Your hard work and dedication have truly paid off. We’re proud to have been part of your journey at CCS, and it’s heartening to hear how our in-house training has played a crucial role in […]
Excise (Exemption from Licensing)(Amendment) Order 2024
The Excise (Exemption from Licensing) (Amendment) Order 2024 was gazetted on 16 January 2024. The purpose of the Excise (Exemption from Licensing) (Amendment) Order 2024 is to amend the Excise (Exemption from Licensing) Order 2019 by inserting a new item and particulars into the Schedule. Specifically, this amendment provides an exemption from licensing for manufacturers […]
Excise Duties (Amendment) Order 2024
The Excise Duties (Amendment) Order 2024 introduces significant updates to the Excise Duties Order 2022 by incorporating new chapters that outline the imposition of excise duties on specific goods manufactured in or imported into Malaysia. This amendment sees the addition of Chapters 18, 19, and 21 to the Schedule of the Excise Duties Order 2022, […]
