Labuan Foundations
The Labuan Foundations Act of 2010 regulates the formation of foundations in Labuan as well as their administration and dissolution after they have been established. What is a Labuan foundation? A Labuan foundation is similar to a company in that it is a corporate body with a separate legal entity, established to hold assets in […]
Form C YA 2022: Are you a Permanent Establishment (PE) as defined under the TP Rules?
Derivation of income under s 12 of the Income Tax Act 1967 The circumstances under which business income would be considered to be derived from Malaysia and so taxed in Malaysia are outlined in Section 12 of the Income Tax Act 1967 (ITA). To complement Section 12, the Income Tax Act was updated with new […]
Technical Guidelines on Tax Treatment of Digital Currency Transactions
The term “Digital Currency,” which is also known as “Cryptocurrency,” refers to a blockchain-based digital asset that can be bought, sold, and traded on a variety of platforms. Bitcoin was the first cryptocurrency ever created, all the way back in 2008 and was issued in 2009. Since that time, a wide variety of people and […]
Whether Employer Can Amend Form CP22A
1. Section 83(3) of the Income Tax Act 1967 states: 👉 Where an employer is about to cease to employ an individual who is or is likely to be chargeable to tax in respect of income in respect of gains or profits from the employment or where an individual under his employment dies, the employer […]
