GSK & Associates
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.
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GSK & Associates
- Sep 22
- 6 min
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.
1580
GSK & Associates
- Aug 21
- 4 min
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.
146
GSK & Associates
- Aug 12
- 2 min
e-Invoice Malaysia
e-Invoice is the exchange of information in an invoice between a supplier and a buyer in a controlled electronic mechanism.
1770
GSK & Associates
- Jul 2
- 2 min
Key differences between MPERS, IFRS for SMEs and MFRS
An overview of the key differences between MPERS, IFRS for SMEs and MFRS in Malaysia.
1,1140
GSK & Associates
- Mar 12
- 2 min
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.
242
GSK & Associates
- Jul 20, 2022
- 4 min
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.
1,4850
GSK & Associates
- Feb 20, 2022
- 3 min
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.
7,9950
GSK & Associates
- Feb 14, 2022
- 7 min
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
2,0790
GSK & Associates
- Feb 1, 2022
- 4 min
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.
23,2440
GSK & Associates
- May 26, 2021
- 2 min
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.
17,1270
GSK & Associates
- Apr 24, 2021
- 4 min
Bad Debts Written Off - Tax Deductible?
Malaysian Income Tax Act, 1967 allows a deduction for bad debts / irrecoverable debts under Section 34 (2).
9,0680
GSK & Associates
- Feb 7, 2021
- 6 min
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.
9,2590
GSK & Associates
- Nov 22, 2020
- 3 min
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....
2,4040
GSK & Associates
- Nov 16, 2020
- 4 min
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.
4800
GSK & Associates
- Oct 4, 2020
- 3 min
ACCOUNTING STANDARDS - CHRONOLOGY
A brief history of accounting standards developed by IASC, IASB, MASB, change of names, number and locally developed standard in Malaysia.
9930
GSK & Associates
- Aug 23, 2020
- 1 min
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.
3890
GSK & Associates
- Apr 17, 2020
- 1 min
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.
4210
GSK & Associates
- Dec 29, 2019
- 2 min
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?
1,1210
GSK & Associates
- Oct 14, 2019
- 2 min
2020 MALAYSIAN BUDGET PROPOSAL
The salient tax proposals based on the Malaysian Budget 2020 speech as announced on 11 October 2019.
3,2140
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