Trading vs Investment: The Fine Line Between Income Tax and Capital Gains Tax for Land Disposals
The characterisation of gains from the sale of land as either income or capital gains has significant tax implications for companies. A recent tax appeal case of Director General of Inland Revenue (DGIR) v Sin Seng Bee Transport Sdn Bhd dissected this issue in detail, providing crucial guidance for businesses on establishing the proper tax […]
When Trading Meets Investing: Tax Implications for Companies on Land Sale Profit
The tax treatment of gains from the disposal of land has been a grey area subject to dispute between taxpayers and tax authorities. A recent income tax case of KPSB V Ketua Pengarah Hasil Dalam Negeri revolved around this issue and provides important guidance for companies on maintaining proper documentation and compliance when dealing with […]
Should the private sector follow the special holiday declared by the state government?
Under the Employment Act 1955, Section 60D(1)(b), which applies to the private sector Peninsular Malaysia and Federal Territory of Labuan: Every employee shall be entitled to a paid holiday at his ordinary rate of pay on the following days in any one calendar year: Section 8 of the Holidays Act 1951 allows the Minister to […]
e-Invoice Guideline Year 2023 Inland Revenue Board of Malaysia: Interpretation of Abbreviations
API | Application Programming Interface Application Programming Interface (Application Programming Interface), or API for short, is a set of predefined functions that allow an application program to make calls and access data and interactions. Some key features of APIs:- In short, API is a crucial software interface that realises the integration and interaction between different […]
Natural Expiry of Genuine Fixed-Term Contract Saves Bursa Malaysia from Unjust Dismissal Claim
In the most recent judgement from the Industrial Court in the case of Azalina Binthi Adham v. Bursa Malaysia Berhad (Award No. 1087 of 2023), Bursa Malaysia Berhad successfully defended against an unjust dismissal claim by arguing that the claimant’s fixed-term employment contracts were genuine and had expired naturally. The court ruled in the company’s […]
Ensuring Minimum Standards: How Section 7 of Malaysia’s Employment Act Impacts Businesses
The purpose of the Employment Act 1955 is to regulate the terms and conditions of employment in Malaysia. Here is an explanation of Sections 1 to 7 of the Act: Applicability of the Act: Section 1 – Short title and application Section 2 – Interpretation Section 2A – Minister may prohibit employment other than under […]
Invitation for Public Consultation on Draft Public Ruling – Agricultural Sector Tax Incentive
The Inland Revenue Board of Malaysia (LHDN) has released a draft Public Ruling on income tax incentives for the agricultural sector, specifically a tax exemption for approved food production projects. This consultation invites feedback from stakeholders before the ruling is finalised. The primary purpose is to seek views on matters related to the conditions and […]
马来西亚内陆税收局 (IRBM) 2023 年电子发票指南快速略读
Other 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 key aspects between the e-Invoice model via MyInvois and via API Portal Transitioning to e-Invoices: Assessing the Options for Your Business [What Businesses Need to Know] […]
Progressive Wage Model to Adopt Flexible Approach, Says Economic Affairs Minister
The government is currently exploring the implementation of a progressive wage model that aims to strike a proper balance and not burden employers, according to Economic Affairs Minister Rafizi Ramli. Addressing the issue that salaries have regressed over the years, the minister emphasised the necessity of a policy that ensures economic stability. “We have been […]
MyInvois Made Easy: Step-by-Step e-Invoicing on the Portal
The MyInvois Portal is a user-friendly web application developed by the Inland Revenue Board of Malaysia (IRBM) that serves as an e-invoicing platform for taxpayers. It provides a simplified way for businesses, especially micro, small and medium enterprises (MSMEs), to manage the e-invoicing process manually through an intuitive online interface. The Portal contains all the […]
