Latest News & Blogs

Important Update for Employers - Starting from the year 2024.

GSK & Associates

May 282 min read

Important Update for Employers - Starting from the year 2024.

Changes to tax form submissions starting from 1 January 2024.

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.

Budget 2023 - Corporate and Individual tax in Malaysia

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.

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.

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.

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.

Budget 2022 - Key Tax Changes in Malaysia

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

Late filing of Income Tax Returns (ITRF) - New Penalty Rates

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.

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).

Income Tax, SST, RPGT and Stamp Duty - Exemptions Malaysia - COVID-19 Measures, includes Budget 2022

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.

Restriction on Deductibility of Interest - Section 140C

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....

Changes in Tax for the Year of Assessment 2020 - Highlights

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.

Withholding tax exemptions for MSC-status Companies in Malaysia - Withdrawn

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.

Tax Filing and Payment Due Dates amid Movement Control Order (MCO) in Malaysia

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.

Directors' + Shareholders' Liability for Company's Tax

GSK & Associates

Dec 29, 20192 min read

Directors' + Shareholders' Liability for Company's Tax

Who is liable to pay tax liabilities of a Company, if the Company fails to pay its corporate tax and Monthly Tax Deductions as an employer?

GSK & Associates

Oct 14, 20192 min read

2020 MALAYSIAN BUDGET PROPOSAL

The salient tax proposals based on the Malaysian Budget 2020 speech as announced on 11 October 2019.

ACCOUNTING RECORDS KEEPING - A MANDATORY REQUIREMENT IN MALAYSIA

GSK & Associates

Jul 3, 20192 min read

ACCOUNTING RECORDS KEEPING - A MANDATORY REQUIREMENT IN MALAYSIA

Accounting records keeping, a mandatory requirement in Malaysia. It is required by Income Tax Act, 1967 and Companies Act, 2016.

Guidelines on Submission of Tax Estimate in Malaysia via Form CP204 - includes Budget 2022 updates

GSK & Associates

Jun 9, 20195 min read

Guidelines on Submission of Tax Estimate in Malaysia via Form CP204 - includes Budget 2022 updates

Guidelines on Submission of Tax Estimate in Malaysia via Form CP204

FOREIGN-SOURCED INCOME - MALAYSIAN INCOME TAX - includes Budget 2022 updates

GSK & Associates

May 24, 20194 min read

FOREIGN-SOURCED INCOME - MALAYSIAN INCOME TAX - includes Budget 2022 updates

Foreign-sourced income is not subject to tax in Malaysia, except for certain activities, such as banking, insurance, and air......

INCOME TAX DUE DATES FOR ALL RETURN FORMS - YEAR 2019

GSK & Associates

Apr 14, 20191 min read

INCOME TAX DUE DATES FOR ALL RETURN FORMS - YEAR 2019

Malaysian income tax return form filing programme for the year 2019, for all income tax return forms, with due dates as per the relevant...

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