Stamp Duty (Exemption) (No. 11) 2021 (Amendment) Order 2023
In exercise of the powers conferred by subsection 80(1) of the Stamp Act 1949 [Act 378], the Minister has issued the Stamp Duty (Exemption) (No. 11) 2021 (Amendment) Order 2023. This order is deemed to have come into operation on 1 January 2023. The Stamp Duty (Exemption) (No. 11) Order 2021 [P.U. (A) 367/2021], previously […]
Sales Tax (Exemption from Registration) Order 2023
In exercise of the powers conferred by subsection 20(1) of the Sales Tax Act 2018 [Act 806], the Minister has issued the Sales Tax (Exemption from Registration) Order 2023. This order provides an exemption from registration for any person engaged in manufacturing finished goods of the Royal Pahang Weave, regardless of the total sale value […]
Something About CP 58
CP 58:- Remark: A payer company must only prepare and render form CP58 to its agents, dealers and distributors if monetary and nonmonetary incentives exceed RM 5,000. If required to furnish a listing of CP58 information to IRBM, a payer company has to submit the information, including incentive amounts of RM 5,000 and below. Starting […]
URGENT NOTICE: Deadline Approaching! Register with PERKESO to Avoid Legal Consequences
The Social Security Organisation (PERKESO) administers three acts: Under Act 4 and Act 800, all employers with one or more employees must register with PERKESO. Failure to comply with registration can lead to legal actions, including prosecution in court. If convicted, employers may face penalties of: PERKESO is going to conduct a significant operation called […]
HASiL Is Seeking Public Consultation On Its Proposed Public Ruling On Investment Tax Allowance
The Inland Revenue Board of Malaysia (HASiL) published a draft Public Ruling (PR) on its website so that the public can comment on it before the PR is finalised. The main objective of this public consultation is to find out what people think about the issues that arise with this draft PR. Please be aware that, according […]
Newcomer Onboarding Training
Dear all CCS Newcomers, Welcome to CCS, a leading Audit Firm in Malaysia! We are delighted to have you join our CCS family and want to ensure a smooth transition into your new role. In line with this, we are excited to announce a two-day Newcomer Onboarding Training held on 24 & 25 May 2023. […]
13 Transfer Pricing Questions
1. What is Transfer Pricing? Transfer pricing is the area of taxation that deals with the pricing of transactions between enterprises under common ownership or control (associated enterprises). Transactions are for example the sale of goods, the provision of services, the use of intellectual property, or the provision of financial transactions. The price for such […]
Employees Cannot Have Their Cake & Eat It: Lessons from Matrix Global Education v Felix Lee Eng Boon
In the Matrix Global Education Sdn Bhd v Felix Lee Eng Boon case, the Court of Appeal held that when an employee agrees to terms of separation and tenders a resignation letter, a binding contract is formed, and the employee cannot subsequently claim constructive dismissal. The case centred around Felix Lee, who was removed from […]
Understanding the Latest Changes to Malaysian Property Stamp Duty: Implications for Family Transfers
The Malaysian government has announced changes to the country’s economic and tax policies in the Budget 2023. One of the proposals relates to stamp duty treatment for the transfer of property by way of love and affection between family members. Currently, stamp duty rates for property transfers are based on a tier system. However, there […]
ASEAN Harmonised Tariff Nomenclature and ATIGA Amendment Order 2023
Customs Duties (Goods of ASEAN Countries Origin) (ASEAN Harmonised Tariff Nomenclature and ASEAN Trade in Goods Agreement) (Amendment) Order 2023 has been issued by the Minister in accordance with the Customs Act 1967 [Act 235]. The Order, which comes into effect on 1 April 2023, amends the First Schedule of the Customs Duties (Goods of […]
