Resources

Tax planning and minimising tax liability legally

TAX planning is the legitimate right of any taxpayer to manage and minimise taxes within the legal framework. The tax legislation is very specific, and it clearly lays out what income or capital or transactions should be brought to tax. Anything outside the ambit of...

Valuation and taxation in real property transactions

REAL property transactions are subject to various taxes such as income tax, real property gains tax, and stamp duty. In the past, goods and services tax (GST) was also applicable on transactions involving commercial properties. To bring the real property transactions...

Are you aware of post import/export audits?

THERE is a general assumption among taxpayers, once the goods have been exported/imported, their responsibilities have been discharged and there will not be any review of this matter by Customs at a later date. This is not correct. Customs are frequently reviewing...
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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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...

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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...

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Taxpayer rights explained

Taxpayer rights explained

DO YOU as a taxpayer know your rights when you are dealing with the Inland Revenue Board (IRB)? As a taxpayer, the fundamental duty is to file your...

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Is it fair to impose surcharge?

Is it fair to impose surcharge?

SURCHARGE is a new concept to the Malaysian tax regime and we do not know the rationale behind it – where additional taxes can be collected by the...

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