Clearing Up The Franchise Fee Confusion

Clearing Up The Franchise Fee Confusion

THERE are more than 1,100 franchises registered with the Ministry of Domestic Trade and Consumer Affairs. In 2022, the total sales value exceeded RM14 billion, and by 2025, it is expected to exceed RM26 billion. Significant franchise payments are made to both local...
Is the Purchase of Software Tax Deductible?

Is the Purchase of Software Tax Deductible?

NO business can function in today’s corporate environment without using software. Businesses have to buy or license software. The tax laws regarding the treatment of the payment for the use or the purchase of software have been changing since the late 1990s. In this...
Tax and Non-Exempt Charities that Receive Regular Donations

Tax and Non-Exempt Charities that Receive Regular Donations

THE taxability of donations has come into the limelight recently in the former prime minister’s case where the Inland Revenue Board (IRB) and the courts did not accept the argument that the monies received were donations. The above case should not change our basic...
Noose is Tightening Around Tax Dodgers

Noose is Tightening Around Tax Dodgers

THE Inland Revenue Board (IRB) has ratcheted up its operation to unearth delinquent individuals and business enterprises suspected to be outside the tax system. There are two types of tax evaders: the hardcore evaders operating in the “black economy” who are outside...
Report Card on Budget 2023

Report Card on Budget 2023

BUDGET 2023 is focused on helping businesses that are just beginning to recover from the Covid pandemic, and it also targets to help selected affected sections of our society such as the B40, M40, senior citizens, OKU, youths, students and the self-employed. The...