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Update: The Ismail Sabri Government Budget is no longer applicable.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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Excise Duty and Sales Tax Exemption on the Sale or Transfer of Individually owned Taxis & Hired Cars
Update: The Ismail Sabri Government Budget is no longer applicable.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 2012, excise duty and sales tax exemption were given on the sale/transfer/private use/disposal of budget taxis and […]
Review of Tax Deduction on Cost of Listing in Bursa Malaysia
Update: The Ismail Sabri Government Budget is no longer applicable.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 A deduction on expenses made by a technology-based company in connection with listing in the ACE (i.e. Access, Certainty, […]
Tax Deduction on Issuance Cost of Sustainable and Responsible Investment Linked Sukuk
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 The Securities Commission Malaysia has introduced the framework on Sustainable and Responsible Investment Sukuk (SRI), which enables fundraising by […]
Use of Form RPGT 502 via e-RPGT is mandatory for payment under s 21B of the RPGT Act 1976
The Inland Revenue Board of Malaysia (IRBM) has announced in its media release dated 16 February 2023 that payment under Section 21B of the Real Property Gains Tax Act 1976 (ACT 1976) using Form CKHT 502 through e-CKHT in the MyTax Portal is mandatory in line with the implementation of the Bill Number as a […]
Stamp Duty Treatment for Transfer of Property by Way of Love and Affection
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 Effective from 1 January 2019, the stamp […]
e-filing Services for Individual & Other Than Individual for Y/A 2022 begin from 1 March 2023
Inland Revenue Board of Malaysia, has released a statement informing the public that e-Filing services for the Year of Assessment 2022 will commence on 1 March 2023. This service is available for both individual and other than individual taxpayers and includes Forms BE, B, M, BT, MT, P, TF, TP, and E. To take advantage […]
