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: […]
OECD publishes Manual on Handling of Multilateral Mutual Agreement Procedures and APAs
The Organisation for Economic Cooperation and Development (OECD) published a manual on the Handling of Multilateral Mutual Agreement Procedures (MAPs) and Advance Pricing Arrangements (APAs) on February 1, 2023. The manual provides guidance on handling Multilateral Mutual Agreement Procedures (MAPs) and Advance Pricing Arrangements (APAs), designed to help taxpayers avoid double taxation and provide greater […]
“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 […]
Tourism Tax Policy No. 1/2023
The Tourism Tax Policy (TTP) No. 1/2023, dated 16 February 2023, has been uploaded on the MyTTx website by the Royal Malaysian Customs Department (RMCD). Based on the information provided, it is the responsibility of the registered digital platform service provider (DPSP) to charge, collect, account and remit the tourism tax (TTx) from tourists who […]
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 […]
“The Rise and Fall of Theranos: A Corporate Governance Cautionary Tale”
“The Theranos controversy, explained“, this article delves into the rise and fall of Theranos, a medical testing startup founded by Elizabeth Holmes, and its connection to corporate governance. Despite raising over $700 million and achieving a $9 billion valuation, a journalist exposed the company as a fraud in 2015, leading to Holmes being indicted on […]
