New Assurance Partner of CCS
Dear Colleagues and Clients, We are delighted to announce that our esteemed colleague, Edward Thun, has obtained his audit license and will be promoted to Audit Partner at our firm. Edward, who serves as an assurance director at CCS, has been an integral part of our team, and we are thrilled to see him reach […]
What are the Tax Consequences for Malaysians living abroad and renting out properties in Malaysia?
Rental income earned in Malaysia is subject to tax under the Malaysian Income Tax Act 1967. The tax rate applicable to rental income depends on the tax residency status of the individual earning the rental income. Tax residents are eligible for tax relief. non-tax residents, on the other hand, do not qualify for tax relief. […]
Extension of Tax Incentives to support the Development of Electric Vehicle Industry
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position In Budget 2022, to support the development of the Electric Vehicle (EV) industry and encourage domestic demand in line […]
Exposure Draft – Snapshot IFRS for SMEs Accounting Standard (Third Edition)
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Review of Tax Incentives for Food Production Project
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position Certain food production projects, including the planting of vegetables, fruits, kenaf, herbs or spices; the rearing of cows, buffaloes, […]
Employment of Inmate and Ex-Inmate of Henry Gurney School and Institutions under the SWD
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position An employer is allowed a further deduction on remuneration paid to the following categories of employees: To qualify for […]
Review of Tax Incentives for Bionexus Status Company
Updated on 15 July 2023- Dialogue between MOF, LHDNM, and CTIM [21/6/2023] To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position “Bio Nexus Status Company” means a company incorporated under the Companies Act 2016 [Act 777] engaged in the life sciences business. Tax incentives for BioNexus status companies are […]
Tax Deduction for Sponsorship of Smart Artificial Intelligence (AI)-Driven Reverse Vending Machine
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position In December 2021, the Malaysia Plastic Sustainability Roadmap, 2021–2030 (hereinafter “the Roadmap”) was published in Malaysia. The Roadmap identifies […]
Review of Income Tax Relief for Medical Treatment Expenses
Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position | 目前情况 Income tax relief is given on medical treatment expenses of up to RM8,000 as follows: 针对医疗费用，最高可获得8,000令吉的所得税减免： Proposal […]
Tax Incentive for Company Renting Non-Commercial Electric Vehicle
Updated on 15 July 2023- Dialogue between MOF， LHDNM， and CTIM [21/6/2023] Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023. To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani Current Position Companies renting non-commercial motor vehicles, including Electric […]
