10 Reasons to Learn Finance
Disclaimer: The articles, templates, and other materials on our website are provided only for your reference. While we strive to ensure the information presented is current and accurate, we cannot promise the website or its content, including any related graphics. Consequently, any reliance on this information is entirely at your own risk. If you intend […]
Construction Company’s Management Fee Deduction Rejected by SCIT
CMSB v e Director General Inland Revenue This case involves a tax dispute between a taxpayer company (CMSB) and the Inland Revenue Board (IRB) over the deductibility of management fees for two construction projects. Background Facts CMSB claimed deductions for management fees paid to a related company (CIWE) for two dam construction projects. IRB disallowed […]
Deduction for Expenses in relation to Listing on Main, ACE Market or LEAP Market
Effective from the year of assessment 2018 until the year of assessment 2023, the Minister makes the Income Tax (Deduction for Expenses in relation to Listing on the Main Market, Access, Certainty, Efficiency (ACE) Market or Leading Entrepreneur Accelerator Platform (LEAP) Market of Bursa Malaysia Securities Berhad) Rules 2023 [PUA 235_2023] under paragraph 154(1)(bb) of […]
Luxury Apartment Developer Fails to Prove Gains are Capital, Taxed as Trading Income Instead
BEVERLY TOWER DEVELOPMENT SDN BHD v. KETUA PENGARAH HASIL DALAM NEGERI High Court Malaya, Kuala Lumpur 10 August 2022 This was an appeal by Beverly Tower Development Sdn Bhd against the decision of the Special Commissioners of Income Tax (“SCIT”), which held that the gains from the disposal of 50 apartment units were trading receipts […]
Deduct or Not Deduct? – The Murky Tax Waters Around Bumiputera Quota Release Payments (Discount)
This involves two court cases where property development companies claimed a tax deduction on payments made to the state housing authority to obtain the release of unsold Bumiputera quota units to be sold to non-Bumiputera buyers. Case No 1: Ketua Pengarah Hasil Dalam Negeri v Taman Equine (M) Sdn Bhd Case No 2: Ketua Pengarah […]
Income Tax (Exemption) Order 2023: 5-year Tax Exemption for Manufacturers Relocating to Malaysia
The Income Tax (Exemption) Order 2023, which is deemed to have taken effect from the year of assessment 2021, introduces a tax exemption for existing manufacturing companies that relocate their operations to Malaysia. To qualify, companies must: The tax exemption is on statutory income derived from qualifying new manufacturing activities. It is equivalent to the […]
Income Tax (Relocation of Manufacturing Business Incentive Scheme) Rules 2023
The Ministry of Finance has gazetted the Income Tax (Relocation of Manufacturing Business Incentive Scheme) Rules 2023 which provide tax incentives for manufacturing companies relocating to Malaysia. The scheme is deemed to have taken effect from the year of assessment 2021. It applies to new manufacturing companies relocating facilities or setting up new operations in […]
Income Tax (Deduction from Remuneration) (Amendment) Rules 2023
The Ministry of Finance has gazetted the Income Tax (Deduction from Remuneration) (Amendment) Rules 2023 which will come into operation on 1 August 2023. The key amendments are as follows: Employers are advised to update their payroll systems and processes to incorporate the new MTD tax tables. Please get in touch with the Inland Revenue […]
“探索未来商务趋势！回顾 CCS Group e-Invoice 免费线上分享活动
亲爱的朋友们， 感谢您对于2023年8月11日 CCS Group 举办的免费线上 e-Invoice 分享活动的踊跃参与！ 在这次分享会上，我们有幸邀请到了 CCS Group 的创办人 Mr. Chin 以及 AutoCount 的销售与市场总监 Alex Ng 担任主讲嘉宾。这次分享汇聚了800多位朋友们的关注和参与，真的让我们感到非常的荣幸！ 在分享中，两位嘉宾带来了丰富的商务经验与深入的行业洞察，为大家分享了关于e-Invoice的精彩见解和实用的知识。我们相信这次分享不仅为您提供了有价值的信息，也为您在商务领域的发展与创新提供了新的思路和启发。 为了让大家进一步探索更多关于商务的资讯，我们特地准备了两位主讲嘉宾的演讲幻灯片，供大家参阅和深入了解。您可以在我们的社交媒体页面找到这些分享内容。 如果您对商务领域的发展充满兴趣，希望继续获得更多有关商务趋势和技术的最新资讯，欢迎点赞并关注我们的 Facebook 页面。我们将持续为您提供有价值的内容，帮助您在商业道路上不断前行！ 再次感谢您的参与和支持。期待在未来的活动中与您再次相聚！ Other e-Invoice related articles that you may be interested in e-Invoicing Guidelines for the year 2023 are now accessible starting 21 July 2023 Benefits of e-invoice A comparison of the […]
Free Zones (Amendment) (No. 2) Regulations 2023
The Ministry of Finance has gazetted the Free Zones (Amendment) (No. 2) Regulations 2023 which will come into operation on 1 August 2023. The key amendments are as follows: With the introduction of this new free zone, businesses located within the zone can enjoy benefits such as exemption from customs duties when importing raw materials, […]
