Amendments to the Finance Bill 2023 and Extension of Tax Relief for Contributions to the SSPN
We would like to inform you that the second reading of the Finance Bill 2023 was presented in the Parliament by YB Tuan Steven Sim Chee Keong – Timbalan Menteri Kewangan on 3rd April 2023. After going through a Committee Stage, some mirror amendments have been made to the Bill. Two amendments that we would […]
IRB to Introduce e-Invoicing in 2024
Malaysia to phase in e-Invoicing from 2024 New Straits Times The Inland Revenue Board of Malaysia plans to introduce e-invoicing in 2024. This move aims to increase efficiency in tax collection and reduce the risk of tax evasion. Starting in June 2024, the e-invoicing system will be mandatory for companies with an annual sales turnover […]
Malaysia to Adopt E-Invoicing to Improve Tax Collection Efficiency and Reduce Fraud Risk
Hello, I’m Mr Chin from CCS, and thank you for watching this AI-created video clip. The Inland Revenue Board of Malaysia plans to introduce e-invoicing in 2024. This move aims to increase efficiency in tax collection and reduce the risk of tax evasion. Starting in June 2024, the e-invoicing system will be mandatory for entities […]
Business Restructuring in Malaysia: The Five Most Common Mistakes and How to Avoid Them
Business Restructuring refers to making significant changes to a company’s organisational structure to improve its performance, adapt to changing market conditions, or address financial or operational challenges. The primary purpose of business restructuring is to ensure the long-term success and sustainability of the organisation. Reasons for Business Restructuring Some common reasons for business restructuring include: […]
“Joyce Promoted to Senior Tax Manager at CCS”
We are pleased to announce that Joyce has been promoted to Senior Tax Manager at CCS – Chartered Accountants. With over a decade of experience in the field, Joyce has proven to be a highly accomplished tax professional. As Tax Senior Manager, Joyce manages the tax department and ensures that our clients receive the best […]
Qualifying Plant Allowances for Computers and IT Equipment and Cost of Prov. of Computer Software
The Inland Revenue Board of Malaysia (IRBM) has issued their responses dated 16 February 2023 to CTIM members’ issues dated 18 January 2023 on the following: – In this article, we will see IRBM’s response regarding item no. 2, the Qualifying Plant Allowances for Computers and Information Technology Equipment, and Cost of Provision of Computer […]
Income Tax (Deduction For Incorporation Expenses) Rules 2003 [P.U. (A) 475/2003]
The Inland Revenue Board of Malaysia (IRBM) has issued their responses dated 16 February 2023 to CTIM members’ issues dated 18 January 2023 on the following: – This article will see IRBM’s response regarding item 3, Income Tax (Deduction For Incorporation Expenses) Rules 2003 [P.U. (A) 475/2003] as amended by P.U. (A) 472/2005. Rule 2(1) […]
Amended Guidelines On Tax Deduction Of Secretarial Fees And Tax Filing Fees From YA 2022 Onwards
The Inland Revenue Board of Malaysia (IRBM) has issued their responses dated 16 February 2023 to CTIM members’ issues dated 18 January 2023 on the following: – This article will see IRBM’s response regarding item 4 on the Amended Guidelines On Tax Deduction Of Secretarial Fees And Tax Filing Fees From YA 2022 Onwards, dated […]
IRB: Implementation of the use of Locked Bags for correspondence and Taxation Notices
Through a media release dated December 20, 2022, the Inland Revenue Board of Malaysia (IRBM) informed that from January 1, 2023, all correspondence and tax notices to IRBM offices in each state would use Locked Bags/Locked Boxes addresses. This new approach facilitates customer affairs/transactions and ensures systematic tax administration management. This means that starting January […]
List of Laboratories Conducting RT-PCR Test for COVID-19 to the COVID-19 Management Guidelines
The Inland Revenue Board of Malaysia (IRBM) has issued their responses dated 16 February 2023 to CTIM members’ issues dated 18 January 2023 on the following: – In this article, we will see IRBM’s response regarding item no. 1, which is the Deduction for Expenses in relation to the Cost of Detection Tests for Covid-19 […]
