Guidelines for Application of Tax Deduction on Contributions / Sponsorships of Smart AI-Driven RVM
Today, we have an important update from the Ministry of Finance (MOF) that aims to promote sustainable practices through the use of Smart Artificial Intelligence (AI)-Driven Reverse Vending Machines (RVMs). So, let’s get right into it! The MOF has recently issued guidelines for applying tax deductions on contributions or sponsorships for Smart AI-Driven RVMs. These […]
Customs (Provisional Anti-Dumping Duties) Order 2023
Today’s article will discuss a vital order related to anti-dumping duties. So, if you’re involved in international trade or import-export business, this information is crucial for you. Let’s get started! In exercise of the powers conferred by section 24 of the Countervailing and Anti-Dumping Duties Act 1993 [Act 504] and subsection 11(1) of the Customs […]
HASiL’s Response to CTIM’s Letter On TAeF Portal For SVDP 2.0
The Inland Revenue Board of Malaysia (HASiL) has given a response to the letter that CTIM sent them on June 16th, 2023. The letter addressed the issues that were brought up on the TAeF Portal for the Special Voluntary Disclosure Programme (SVDP) 2.0. 1. TAeF portal has no option for SVDP 2.0 in view of […]
Cessation of accepting Cheques and Money Orders/Postal Orders as instruments of payment to HASiL
Today we have an important update regarding tax payments in Malaysia. Media Release On June 12, 2023, HASiL issued a media release informing taxpayers about a significant change in how direct tax payments are accepted. Let’s dive into the details. The Inland Revenue Board of Malaysia (HASiL) announced the discontinuation of cheques and Money Order/Postal […]
ED International Tax Reform—Pillar 2 Model Rules – Proposed amendments to the IFRS for SMEs Standard
The “Exposure Draft ED/2023/1 International Tax Reform—Pillar Two Model Rules – Proposed amendments to the IFRS for SMEs Standard” was published by the International Accounting Standards Board (IASB) on June 1, 2023. The Exposure Draft proposes amendments to the IFRS for SMEs (International Financial Reporting Standards for Small and Medium-sized Entities) Standard in response to […]
Persons with Disabilities Act 2008
The Persons with Disabilities Act 2008 (Act 685) in Malaysia is a legislation that focuses on the rights and well-being of persons with disabilities. What is a Disability? Disability refers to a condition or impairment, whether physical, mental, cognitive, or developmental, that hinders, interferes with, or limits a person’s ability to engage in specific tasks […]
CCS looks for all collaboration!
CCS & Co Plt is honoured to have been one of the presenters in the Virtual Networking Session between IAPI from Indonesia and MIA member firms. We would like to express our heartfelt gratitude to the organiser for providing us with this valuable opportunity to share our expertise and insights with such a distinguished audience. […]
What is ESG
The acronym ESG refers to a set of criteria that is used to analyse the long-term viability and ethical impact of an investment or a firm. These criteria include environmental, social, and governance considerations. When investors evaluate the behaviour and potential performance of organisations, it has evolved into an important consideration to take into account. […]
Tourism Tax Policy No. 2/2023: Extension of Grace Period for Tourism Tax Collection by DPSP
Attention all Digital Platform Service Providers (DPSP) operating in Malaysia, The Royal Malaysian Customs Department (RMCD) published Tourism Tax Policy (TTP) No. 2/2023 on April 13, 2023, on its MyTTx website to inform you of the extension to the grace period for the collection, accounting, and remittance of tourism tax (TTx) from foreign tourists who […]
Deduction for Expenditure Incurred for Provision of Approved Internship Programme) (Amendment) Rules
The Ministry of Finance, exercising the powers conferred by paragraphs 154(1)(b) and 33(1)(d) of the Income Tax Act 1967 [Act 53], hereby announces the amendment of the Income Tax (Deduction for Expenditure Incurred for Provision of Approved Internship Programme) Rules 2019 (which are referred to as the “principal Rules”). These amended rules shall be known […]
