Resources

Demystifying bumiputera discounts paid to state govt

THERE is some confusion regarding the tax treatment of contributions made to the state government by property developers. These contributions can colloquially be referred to as a “levy” or a payment to allow property developers to release unsold bumiputera units to...

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 the tax authorities within one month from the payment date or the amount is credited as payable to the recipient in the...

Understanding the tax penalty regime

EVERY taxpayer has an obligation to comply with the tax laws and any infringement will be an offence, which will lead to penalties, fines and, possibly, imprisonment. There are two types of penalties: mandatory penalties and discretionary penalties. Mandatory...
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...

read more
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...

read more
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...

read more
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...

read more
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...

read more
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...

read more
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....

read more
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...

read more
Is foreign income taxable?

Is foreign income taxable?

MALAYSIA taxes income on a territorial basis – income that arises in, derived from or received in Malaysia from outside Malaysia. Most countries in...

read more
Relax deadlines during lockdown

Relax deadlines during lockdown

THE coming full lockdown will have a severe impact on the majority of businesses particularly SMEs and the services sector. Although many businesses...

read more