Employment (Amendment) Act 2022 confirms postponement to 1.1.2023
Source: Straits Times According to reports in the media, the implementation date of the Employment (Amendment) Act 2022 and the Employment (Amendment of First Schedule) Order 2022, which effectively broadens the scope of application of the Principal Act to include all employees, has been postponed to January 1, 2023. The original implementation date was September […]
Employees’ Social Security & Employment Insurance System (Amendment) Bills 2022
Employees’ Social Security (Amendment) Bill 2022 On August 9, 2022, the Employees’ Social Security (Amendment) Bill 2022 was approved by the Dewan Negara (House of Senates) of the Malaysian Parliament to make changes to the Employees’ Social Security Act 1969. Employment Insurance System (Amendment) Bills 2022 The Employment Insurance System (Amendment) Bill 2022 was also […]
Bursa Malaysia: The Third Guidebook of the Public Listed Companies Transformation Programme
Photo: KH Sim On August 19, 2022, Bursa Malaysia Berhad (also known simply as Bursa Malaysia） published the third digital Guidebook as part of its Public Listed Companies Transformation (‘PLCT’) Programme for users to gain an understanding and appreciation of critical areas that will support towards a more responsible and high performing Corporate Malaysia. To […]
MoHR postpones implementing Employment Act amendment to Jan 1 2023
Announcement The Ministry of Human Resources (MoHR) announced that it would be delaying the implementation of the Amendments to the Employment Act 1955 until January 1, 2023, rather than the previously scheduled September 1, 2022. Minister Datuk Seri M Saravanan, who was in charge of making the decision, stated that it arrived after consultations with […]
Trade Unions (Amendment) Bill 2022
The bill was brought to the Dewan Rakyat for its first reading in March. Trade Union Act 1959 Trade Union is an organised association of workers in a trade, group of trades, or profession, formed to protect and further their rights and interests. The Trade Unions (Amendment) Bill 2022 was drafted following the principles of […]
IRBM’s Response to CTIM on Appeal Regarding Time Extension Request
In response to the member’s request for an extension of time (EOT) to submit the Income Tax Return Forms(ITRFs), CTIM has sent an appeal letter to the Inland Revenue Board of Malaysia (IRBM). AND the Malaysian Inland Revenue Board has replied as follows: Disclaimer: The information in this article should not be construed as legal […]
WHT Form Submission & Withholding Tax (WHT) Payment of Small Value for Transactions That Recurring
The Inland Revenue Board of Malaysia (IRBM) has given its approval to the CTIM’s suggestion to submit withholding tax (WHT) forms and the payment of WHT of Small Value for transactions that occur repeatedly less cumbersome administratively and less expensive to comply with. An individual or body resident in Malaysia or conducting business in Malaysia […]
Taxation Of Foreign Fund Management Company
Foreign Fund Management Companies in Malaysia A company that is incorporated in Malaysia and granted a licence under the Capital Markets and Services Act 2007 (Act 671) is considered to be a foreign fund management company. A foreign company incorporated for the exclusive purpose of providing fund management services to its customers is known as a […]
Tax Incentive For Organising Conferences In Malaysia
Most of the time, a conference is a large meeting where researchers, academicians, and professionals can share their work and research in fields like medicine, law, science, engineering, technologies, business management, and so on. Since the year of assessment 1997, Malaysian organisers of conferences whose principal activities are to promote and run conferences have been given […]
Service Tax Policies (STP) on Digital Services
STP No. 1/2022 dated 1 August 2022 On August 1, 2022, the Royal Malaysian Customs Department announced the Service Tax Policy 1/2022 (only available in the Malay language) on the service tax exemption on providing digital payment services by local non-bank providers. This amendment came into effect on the first day of August 2022. This […]
