Income Tax (Exemption) Order 2024
The Income Tax (Exemption) Order 2024 [P.U. (A) 37/2024] provides tax exemptions for IDR-status companies undertaking qualifying activities in approved nodes within the Iskandar Development Region (“IDR“) This Order aims to promote investments in certain sectors to drive regional economic growth. The Order defines an IDR status company and specifies the qualifying activities across sectors […]
Income Tax (Determination of Approved Individual and Specified Year of Assessment under the Returning Expert Programme) (Amendment) Rules 2024
The Income Tax (Determination of Approved Individual and Specified Year of Assessment under the Returning Expert Programme) (Amendment) Rules 2024 [P.U. (A) 45/2024] amends the Income Tax (Determination of Approved Individual and Specified Year of Assessment under the Returning Expert Programme) Rules 2012 to extend the tax incentives provided under the Returning Expert Programme. The […]
e-Invoice Guideline Version 2.2：Acquiring Goods or Services from Individuals who are not conducting Business
Here is a brief overview of the e-invoice impact when acquiring goods or services from individuals who are not conducting business: 1）Self-billed e-invoice needs to be issued by the business acquiring goods/services from the individual 2）For example, if Company XYZ buys used furniture from John, an individual selling some household items, Company XYZ has to […]
e-invoice’s Total Payable Amount: Full Payment Breakdown
Today, let’s talk about the differences between these terms with examples: 36. Subtotal: Example: 37. Total Excluding Tax: Example: 38. Total Including Tax: Example: 39. Total Net Amount: Example: 40. Total Payable Amount: Example: 41. Rounding Amount: Example: 今天，让我们结合实例来谈谈这些术语之间的区别： 36. 小计 – 这表示发票中每个单个项目或服务的金额。 – 它不包括任何税费或折扣。 – 仅适用于细列项目层面。 例如 – 发票： – 项目 1：RM50 – 项目 […]
Tax Prep 2024: Tax Relief, Tax Deduction and Tax Rates for Resident Individual
Great news, everyone! The much-awaited Tax Prep 2024: Tax Relief, Tax Deduction, and Tax Rates for Resident Individuals, prepared by CCS, is now available! Whether navigating tax relief options, seeking deductions, or understanding tax rates for resident individuals, this comprehensive guide covers you. 好消息，各位！大家期待已久的《2024 年税务准备》： 由 CCS 编写的《居民个人减税、税务扣除和税率》现已面世！ 无论您是在选择减税方案、寻求扣除额，还是了解居民个人的税率，这本全面的指南都能为您提供帮助。 Download your copy today by clicking […]
Scope of self-billed e-invoice extended to Payment of Interest & Rebates
The specific guidance on e-invoicing dated 9 February 2024 extends the scope of self-billed e-invoicing by adding two new items, namely:- (i) Payment of interest; and (ii) Rebates 2024年2月9日的电子发票具体指南，扩大了自开电子发票的范围，总共增加了两个新的事项，即： (i) 支付利息及; 及 (ii) 回扣 ㊗️大家新年快乐 – https://fb.watch/qcj6eMVXdT/ 🧨🧨🧨🧨🧧🧧🧧🧧 🚨注意啦！东马的朋友们！🚨 十面埋伏老师来😻古晋😻与你们分享 E-Invoice 的实施策略部署啦‼️ 这是 HRDC Claimable 的! 座位有限，目前热卖中🔥🔥🔥 📅日期：26/02/2024 （星期一） ⏰时间：9.00a.m – 6.00p.m. 📍地点：Imperial Grand Ballroom […]
e-Invoice Guideline Version 2.2：Essential Data Fields for E-Invoice Issuance
As per e-Invoice Guideline Version 2.2 (published on 9 February 2024): There are 55 data fields that are required to issue an e-invoice. These fields are grouped into eight categories: 1. Address 2. Business Details 3. Contact Number 4. Invoice Details 5. Parties 6. Party Details 7. Payment Info 8. Products / Services 根据电子发票指南 2.2 […]
How does the prohibition on consolidating transactions into a single e-invoice impact hardware shop that sell construction materials?
According to the e-Invoice Guideline, currently, the activities or transactions of industries where an e-invoice is required to be issued for each transaction include wholesalers and retailers of construction materials. Hence, the prohibition on issuing consolidated e-invoices includes hardware shops that sell construction materials such as PVC pipes, metals, nails, bolts, and similar items. According […]
How is a company’s annual turnover pro-rated when changing its financial year-end for e-invoice implementation purposes?
When a company changes its financial year-end, the annual turnover or revenue is pro-rated to a 12-month period for the purposes of determining the e-Invoice implementation date. This means that if the company’s financial year does not align with a standard 12-month period due to the change, the turnover or revenue will be adjusted to […]
Income Tax (Exemption) Order 2024
This Income Tax (Exemption) Order 2024 [P.U. (A) 37/2024] was made under paragraph 127(3)(b) of the Income Tax Act 1967. The Order provides tax exemptions for IDR-status companies carrying out qualifying activities in approved nodes within the Iskandar Development Region. The Order defines key terms such as “IDR status company”, “qualifying activity”, and “qualifying capital […]
