Take 5 with Thannees: Episode 11

02 August 2022

2020 was indeed a challenging year for all of us. Nevertheless, we keep our spirits high and always begin the New Year stronger!

We believe 2021 will definitely be a much better year, with the vaccines coming in – we hope businesses will regain what was lost in 2020. Growth in the economy can be expected with the assistance of tax revenues. Expect 2021 to be a year of spending!

Stay tuned with TTCS and join us for a year filled with exciting programmes, tax matters, renewed prospects, and consultations in 2021, to get us through another year together!

Wishing everyone a blessed 2021!

Video Transcription

2020 has been a tumultuous year with COVID-19 affecting us. We have ups and downs and the economy is badly affected. Ladies and gentlemen, 2021 would definitely be a much better year. There is only one way up. It is only one way and it is going to be the way up.

So, as far as the economy concerned, it is going to improve and do well. The vaccines are nearby and it is all coming in maybe February or maybe March or by June, many people will start getting the vaccines in Malaysia and there will be confidence back in economy.

However, with the regards to tax, the tax authorities are going to collect a lot more taxes because the government needs the cash badly. What should you be doing? You shouldn’t be over paying your taxes. You should make sure you fully comply and pay the minimum amount of the tax or the right amount of the tax. So, that means you must start planning your taxes right from the beginning of the year not at the end of the year not in the later part of the year because throughout the year you should be monitoring the amount of taxes you pay and to ensure you have the right documents so that you can defend yourself against the tax authorities in the event of any challenge.

So It is going to be an interesting year from a tax perspective. As far as we are concerned at Thannees Tax Consulting, we are here to help you and we will be running a lot or many virtual events on a regular basis. Perhaps, even by a weekly, monthly or a few times and we are going to have a major event in 2nd March, a Thannees Tax Consulting Services conference where we will be dealing with practical issues that affect you on day to day basis.

Please come and join us for these events. The virtual events are all free of charge but for the seminar we will be charging you a nominal amount. So please come and attend. You are most welcome. You will find it very useful.

And with that ladies and gentleman, I would like to wish you all a happy new year and I hope all of us will look forward to 2021. It will definitely be a better year. Thank you.

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