THERE is a lot of noise around Luxury Tax. Some regard this as taking money from the rich and giving it to the rakyat. There is a lot of uncertainty surrounding this tax: What goods will be subject to Luxury Tax; what is the threshold at which it will be imposed; rate...

MALAYSIA'S Inland Revenue Board (IRB) had in the past taken the view that intangible assets do not qualify as an expense deduction or eligible for capital allowances until 2018 when the courts ruled that intangible asset such as a database containing core deposit and...

THROUGHOUT the past two decades, Malaysia has been running a budget deficit. This year’s deficit will be 5% of gross domestic product, amounting to RM97 billion. Malaysia cannot keep on increasing its borrowings which will soon reach RM1.2 trillion. In order to...