Sales Tax Policy No. 2/2022: Facilitation of Drop-shipment Activity
There’s no doubt that the drop-shipping business model is a type of business that is both easy to start and very good for business. Drop-shipping companies are already being started by people of all ages, in all parts of the world, with various histories and levels of expertise. On its MySST website, the Royal Malaysian […]
English version of the FAQ on Implementation of e-TT System for TT, EFT and IBG Payment Methods
With effect from 1 April 2022, an e-Telegraphic Transfer (eTT) system has been implemented for the payment of: through Telegraphic Transfer (TT), Electronic Funds Transfer (EFT), and Interbank GIRO Transfer (IBG) methods from within and outside Malaysia. There are a total of 18 questions that are presented in the form of frequently asked questions (in […]
IRBM’s Response to CTIM on e-C 2022 (3)
Regarding Form e-C 2022, CTIM has offered feedback and comments to the Inland Revenue Board of Malaysia (IRBM). The Inland Revenue Board of Malaysia issued its response on 29 July 2022 and 2 August 2022, respectively. Despite this, on 11 August 2022, CTIM provided IRBM with additional feedback and comments on the form e-C 2022 […]
Ensco Gerudi (M) Sdn Bhd v KPHDN
This is an application for judicial review filed by Ensco Gerudi against the tax authorities’ decision in the form of a Notice of Additional Assessment dated 22 July 2020 and audit findings dated 23 October 2019, 30 January 2020 and 22 June 2020. Background Facts Ensco Gerudi (“Ensco”) provides offshore drilling services to the petroleum […]
In the case of a “Fundamental Breach,” there is no need for an Inquiry
Harapan R Sdn. Bhd. vs. RY Jabatan Perhubungan Perusahaan 7 October 1997 The parties to the dispute are Harapan R Sdn. Bhd. (hereinafter referred to as ‘the company’) and Encik RY (hereinafter referred to as ‘the claimant‘). The dispute is over the claimant’s dismissal by the company on 5 April 1994. The claimant contends that […]
The Absence of a Domestic Inquiry is not Fatal
section 14(1)(a) of the Employment Act 1955 A “Due Inquiry” or “Domestic Inquiry” is one of the processes that must be carried out before dismissal for misconduct can be justified, as required by section 14(1)(a) of the Employment Act 1955. This procedure must be carried out before the dismissal can be justified. When wrongdoing is […]
Accounting for Business Combinations in MFRS 3
Acquisitions are a standard business practice, and several motivations exist behind this. For instance, they may be interested in increasing their overall size, diversifying the types of products they sell or services they provide, or expanding into new markets or geographical areas. However, the question that needs to be answered is how we can determine […]
Extension of Sales Tax Exemption for the Purchase of Locally Assembled Bus
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani. This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included in Budget 2023 (Re-tabled) […]
Malaysian Ship Business – Income Tax (Exemption) (No. 7) Order 2022
Subsection 54A(1) of the ITA 1967 Under Section 54A(1) of the ITA 1967, where a person who is resident in Malaysia for the basis year for a year of assessment carries on the qualifying business of – the statutory income for that year of assessment from that business shall be exempt from tax. Footnotes Business […]
Service Tax Exemption on Digital Services related to Banking/Financial Services
Updated on 15 July 2023- Dialogue between MOF，LHDNM， and CTIM[21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023; for more info, please visit – https://www.ccs-co.com/post/budget-2023-malaysia-madani This tax incentive included in Budget 2023, tabled in Parliament on 7 October 2022, was not included […]
