GSK & Associates
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, 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.
672 views0 comments
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.
4,386 views0 comments
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
1,832 views0 comments
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.
10,905 views0 comments
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.
13,259 views0 comments
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).
6,926 views0 comments
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.
8,889 views0 comments
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....
2,110 views0 comments
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.
445 views0 comments
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.
854 views0 comments
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.
370 views0 comments
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.
401 views0 comments
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?
814 views0 comments
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.
3,202 views0 comments
GSK & Associates
- Jul 3, 2019
- 2 min
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.
6,464 views0 comments
GSK & Associates
- Jun 9, 2019
- 5 min
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
58,838 views0 comments
GSK & Associates
- May 24, 2019
- 4 min
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......
51,920 views0 comments
GSK & Associates
- Apr 14, 2019
- 1 min
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...
508 views0 comments
GSK & Associates
- Apr 1, 2019
- 2 min
TAX PLANNING for INDIVIDUALS
Ways to reduce Income Tax for Employees and Service Directors and at the same time Employers gets full deductions of expenses. Out of...
1,084 views0 comments
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