GSK & Associates
Important Update for Employers - Starting from the year 2024.
Changes to tax form submissions starting from 1 January 2024.
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GSK & Associates
Mar 11 min read
How will the increase in the Service Tax (SST) rate from 6% to 8% impact businesses and consumers?
We wish to draw your attention to the recent revision in the Service Tax rate, which has been increased from 6% to 8%, effective from 1...
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GSK & Associates
Oct 9, 20232 min read
Waiver of debts - taxable or not?
Waiver of debts - taxable or not?. While it may seem like a tremendous relief, the IRB might still consider it as taxable income.
1,8250
GSK & Associates
Sep 22, 20236 min read
Budget 2023 - Corporate and Individual tax in Malaysia
Explore the Impact of Malaysia's Budget 2023 Key Tax Changes on Corporate and Individual Tax in Malaysia.
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GSK & Associates
Aug 21, 20234 min read
Special Voluntary Disclosure Programme 2.0 in Malaysia
SVDP 2.0 targets taxpayers who have either not paid or underpaid their taxes to voluntarily report their income.
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GSK & Associates
Aug 12, 20232 min read
e-Invoice Malaysia
e-Invoice is the exchange of information in an invoice between a supplier and a buyer in a controlled electronic mechanism.
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GSK & Associates
Jul 2, 20232 min read
Key differences between MPERS, IFRS for SMEs and MFRS
An overview of the key differences between MPERS, IFRS for SMEs and MFRS in Malaysia.
8,7990
GSK & Associates
Mar 12, 20232 min read
Individual income tax in Malaysia
Individual income tax in Malaysia with details of tax due dates, residence status, reliefs and rebates for the year of assessment 2022.
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GSK & Associates
Jul 20, 20224 min read
Reduced rates for tax penalties
Effective 1 May 2022, tax penalties imposed under Section 113 (2) of the Income Tax Act, 1967 (ITA) are at a new, reduced graduated scale.
2,9820
GSK & Associates
Feb 20, 20223 min read
Redeemable Preference Shares (RPS) - Liability or Equity
Classification of Redeemable Preference Shares (RPS) as Liability or Equity as prescribed by IAS 32 or MFRS 132.
14,3200
GSK & Associates
Feb 14, 20227 min read
Budget 2022 - Key Tax Changes in Malaysia
Budget 2022 and Finance Act 2021, changes in tax rules for foreign-sourced income, introduction of new withholding tax of 2%, power to call
2,2260
GSK & Associates
Feb 1, 20224 min read
Foreign Exchange Gains and Losses - Accounting and Tax treatment
Tax and accounting treatment on foreign exchange gains and losses - based on MFRS 121, IAS 21, LHDN Guidelines and Public Rulings 12/2019.
47,7260
GSK & Associates
May 26, 20212 min read
Late filing of Income Tax Returns (ITRF) - New Penalty Rates
New penalty rates for Late filing of Income Tax Returns in Malaysia effective from 1 October 2019.
24,3440
GSK & Associates
Apr 24, 20214 min read
Bad Debts Written Off - Tax Deductible?
Malaysian Income Tax Act, 1967 allows a deduction for bad debts / irrecoverable debts under Section 34 (2).
12,0680
GSK & Associates
Feb 7, 20216 min read
Income Tax, SST, RPGT and Stamp Duty - Exemptions Malaysia - COVID-19 Measures, includes Budget 2022
Income tax rebate of RM20,000 per year for first 3 years will be given for SMEs under the PENJANA initiatives by Malaysian Government.
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GSK & Associates
Nov 22, 20203 min read
Restriction on Deductibility of Interest - Section 140C
Section 140C is a new section in Malaysian Income Tax Act, 1967 (ITA), introduced via Finance Act 2018, effective from 1 July 2019. 1....
2,6730
GSK & Associates
Nov 16, 20204 min read
Changes in Tax for the Year of Assessment 2020 - Highlights
Highlights on changes in tax matters in Malaysia, effective from the year of assessment (YA) 2020 based on Finance Act 2019.
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GSK & Associates
Oct 4, 20203 min read
ACCOUNTING STANDARDS - CHRONOLOGY
A brief history of accounting standards developed by IASC, IASB, MASB, change of names, number and locally developed standard in Malaysia.
1,2960
GSK & Associates
Aug 23, 20201 min read
Withholding tax exemptions for MSC-status Companies in Malaysia - Withdrawn
Withholding tax exemptions for MSC-status Companies in Malaysia has been withdrawn effective from 1 January 2020.
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GSK & Associates
Apr 17, 20201 min read
Tax Filing and Payment Due Dates amid Movement Control Order (MCO) in Malaysia
Tax Filing and Payment Due Dates amid MCO in Malaysia from 18 March to 28 April 2020.
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