IRBM – Anti-Bribery & Compliance of Code of Ethics for s.153(3) Tax Agents
Following the issuance of the Revised Code of Ethics for Tax Agents by the Malaysian Inland Revenue Board (HASiL) on January 1, 2023, HASiL has introduced the ‘Akuan Bebas Rasuah dan Pematuhan Kod Etika Ejen Cukai dibawah Subseksyen 153(3), ACP 1967 (Declaration)‘. We believe some of the tax agents who have just obtained or have […]
HASiL: Forms CP 22A/ CP 22B/ CP 21 submission requirements & online submission of Notification Forms
The Inland Revenue Board of Malaysia (HASiL) has issued a letter dated 28 June 2023 to CTIM and other professional bodies regarding the submission requirements for Form CP22A/ CP22B/ CP21 and the online submission process for employee-related notification forms. The letter includes the following information:- 1. Notice of cessation of employment Section 83(3) of the […]
Additional tax relief is available for Voluntary Contributions made to the EPF
The EPF strives to grow their members’ retirement savings while continuously developing a wide range of products and services to support their journey towards a comfortable retirement. Individuals who are employed, self-employed or business owners can opt to contribute based on their own requirements. As a member, you are eligible not only to enjoy annual […]
Budget 2023: Redefinition of ‘Micro, Small and Medium Enterprise (“MSME”)’
Small and medium-sized enterprises (SMEs) are integral to the Malaysian economy as they contribute 38% or more than RM500bil to our gross domestic product (GDP). There were altogether 1,226,494 MSMEs in 2021 which accounts for 97.4% of overall establishments in Malaysia. Today we are pleased to inform you of an important update regarding the redefinition […]
Section 46 paragraph (ha): Both Spouses can claim the Tax Relief of RM4,000
In accordance with the latest amendment to Section 46 of the Income Tax Act 1967, an additional paragraph (ha) has been included. This paragraph enables parents of children 18 years old or below diagnosed with specific symptoms of learning disabilities to seek tax relief for medical expenses. These expenses must be incurred in relation to […]
ISA 600: What’s New in Group Audits?
Auditing group financial statements present unique challenges, as these statements consolidate the financial information of multiple entities within a group. International Standard on Auditing 600 – Special Considerations – Audits of Group Financial Statements (ISA 600), which is set to revolutionise the way audits of group financial statements are conducted. However, the International Auditing and […]
Whether Digital Currencies are to be treated as a Mode of Payment or an Intangible Property
Accountants often face challenges in their professional practice that lack specific accounting standards, such as in the case of cryptocurrencies. Similarly, tax agents in Malaysia have limited resources when referencing the Guidelines on the Tax Treatment of Digital Currency Transactions, which appears to be the solely available guidance presently. As a result, the Chartered Tax […]
HASiL’s Response to CTIM’s Letter On TAeF Portal For SVDP 2.0
The Inland Revenue Board of Malaysia (HASiL) has given a response to the letter that CTIM sent them on June 16th, 2023. The letter addressed the issues that were brought up on the TAeF Portal for the Special Voluntary Disclosure Programme (SVDP) 2.0. 1. TAeF portal has no option for SVDP 2.0 in view of […]
ED International Tax Reform—Pillar 2 Model Rules – Proposed amendments to the IFRS for SMEs Standard
The “Exposure Draft ED/2023/1 International Tax Reform—Pillar Two Model Rules – Proposed amendments to the IFRS for SMEs Standard” was published by the International Accounting Standards Board (IASB) on June 1, 2023. The Exposure Draft proposes amendments to the IFRS for SMEs (International Financial Reporting Standards for Small and Medium-sized Entities) Standard in response to […]
CCS looks for all collaboration!
CCS & Co Plt is honoured to have been one of the presenters in the Virtual Networking Session between IAPI from Indonesia and MIA member firms. We would like to express our heartfelt gratitude to the organiser for providing us with this valuable opportunity to share our expertise and insights with such a distinguished audience. […]
