Resources

Issues arising from internal group restructuring

IT IS very common for groups of companies to undertake restructuring for various reasons: reduction of operating costs, avoiding duplication of resources, reducing financing costs, reducing bureaucratic compliance and im-proving tax efficiency. Merging businesses...

How to deal with audits and investigations

LATELY, there has been increased activity in the areas of tax audits and investigations. The key difference between a tax audit and an investigation is the element of surprise in the case of tax investigation, while a tax audit is made known beforehand to the taxpayer...

Relevance of accounting in taxation

THERE is a basic misconception that taxation is based on financial accounts because tax computations are prepared based on the underlying figures provided. Let’s make it clear that the computation of income tax is based entirely on the Income Tax Act 1967 (ITA). Many...
Issues around withholding tax

Issues around withholding tax

GENERALLY, when withholding taxes come to your mind, it will only be on payments made to non-residents. Normally withholding taxes are paid over to...

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What to expect in Budget 2024

What to expect in Budget 2024

SUBSIDY reduction is the most important issue that is likely to be the focus in Budget 2024 if Malaysia is to work towards reducing its budget...

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Are you ready for e-invoicing?

Are you ready for e-invoicing?

MALAYSIA will be following many other countries in digitalising invoicing through the e-invoice system that will be mandatorily implemented in...

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Stamp duty – the forgotten tax

Stamp duty – the forgotten tax

GENERALLY, whenever there are transactions, the focus is on income tax, Real Property Gains Tax, sales and service tax and customs duties. The stamp...

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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...

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Charities and tax exemptions

Charities and tax exemptions

ANY organisation receiving donations from the public and spending monies on charitable activities without any intention to make profits could be...

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Taxation of cryptocurrencies

Taxation of cryptocurrencies

CRYPTOCURRENCY is a form of digital money similar to cash such as ringgit and US dollar, which is not controlled by any central bank or anyone....

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Opportunity to come clean

Opportunity to come clean

THE government has come up with another special voluntary disclosure programme (SVDP) dealing specifically with indirect taxes to be administered by...

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