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 […]
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 […]
IRBM’s Responses to CTIM Members’ Issues Raised at the CTIM Tax Audit and Investigation Roadshow
On the 5th of December 2022, CTIM had a courtesy visit meeting with the Deputy Chief Executive Officer (Compliance) of the Inland Revenue Board of Malaysia (IRBM). Also in attendance were representatives from the IRBM Tax Compliance Department and the IRBM Investigation Department. This visit will allow the CTIM and IRBM Tax Audit and Investigation […]
IRBM’s Response to CTIM on Tax rebate under Section 6D of the Income Tax Act 1967
In Malaysia, a tax rebate for the company or limited liability partnership under section 6D of the Income Tax Act 1967 refers to a tax incentive the Malaysian government provides to eligible companies and limited liability partnerships. The tax rebate is a form of tax relief where the taxable income of the company or limited […]
IRBM’s Response to CTIM on Deduction for the Sponsorship of Scholarship to Malaysian Students
“Income Tax (Deduction for the Sponsorship of Scholarship to Malaysian Student Pursuing Studies at Technical and Vocational Certificate, Diploma, Bachelor’s Degree, Master’s Degree or Doctor of Philosophy Levels) Rules 2022” (P.U.(A) 49/2022) was gazetted by the Malaysian government on March 7, 2022, to implement an extension and expansion of the Double Deduction for companies that […]
IRBM’s Response to CTIM on 2% tax deducted under Section 107D of the Income Tax Act 1967
The Inland Revenue Board of Malaysia has issued their responses dated 29 December 2022 to CTIM members’ issues dated 21 September 2022 on the following:- In this article, we will focus on item No 1, the 2% tax deducted under Section 107D of the Income Tax Act 1967, while items No 2 to 4 will […]
IRBM’s Response to CTIM on Amended Guidelines on Deduction for Secretarial & Tax Filing Fees
On August 17, 2022, the IRB updated the guidelines it had previously published on its website regarding tax deductions for payments associated with tax and secretarial filing fees. The guidelines are in Bahasa Malaysia and are named “Pindaan Garis Panduan Potongan Bagi Perbelanjaan Berhubung Dengan Yuran Kesetiausahaan Dan Yuran Pemfailan Cukai Mulai Tahun Taksiran 2022” […]
IRBM’s Responses to CTIM on Issues from Joint Memorandum on Post-2022 Budget Issues & Gazette Orders
On December 23, 2022, the Inland Revenue Board of Malaysia’s responses regarding issues raised by CTIM members on June 13, 2022, were released. These issues were related to IRBM’s Responses to Joint Memorandum on Post-2022 Budget Issues and Gazette Orders. The following is a summary of IRBM’s Responses to CTIM Members’ Issues arising from IRBM’s […]
Why we need the 3rd edition of the IFRS for SMEs Accounting Standard
The IFRS for SMEs (International Financial Reporting Standards for Small and Medium-sized Entities) is a set of accounting standards designed specifically for small and medium-sized entities. The first edition of the IFRS for SMEs was published in 2009, and the second was published in 2015. The third edition was published in 2021 and includes several […]
