Resources

Modify SST to make it business friendly and increase govt revenue

THE government is unlikely to reintroduce Goods and Services Tax (GST) in light of the slowing world economy. GST is seen to be a regressive tax that will burden lower income groups. At the same time, the government requires revenue to reduce the budget deficit and to...

Is it time to merge Inland Revenue Board and Customs?

THE  Inland Revenue Board of Malaysia (IRB) and the Royal Malaysian Customs Department (Customs) are expected to collect about RM270 billion in taxes. IRB collects income tax, real property gain taxes, stamp duties, petroleum income tax; Customs collects import...

Viability of GST in digital economy

The upcoming budget next month has prompted discussions about the possible reintroduction of the GST and various other fiscal reforms to manage the government's finances. Our Managing Director, SM Thanneermalai, shared insights in an interview with Star Media Group...
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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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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