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
- Oct 9, 2023
- 2 min
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.
1,1450
GSK & Associates
- Sep 22, 2023
- 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.
2660
GSK & Associates
- Aug 12, 2023
- 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.
3630
GSK & Associates
- Mar 12, 2023
- 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.
1,319
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.
2,6270
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
2,2110
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.
43,3090
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.
22,9170
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).
11,6470
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....
2,6430
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.
5430
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.
4420
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?
2,0040
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.
7,7320
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
84,4440
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...
5620
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...
1,5200
GSK & Associates
- Mar 31, 2019
- 1 min
LHDN - PENALTIES without NOTICE
There are penalties imposed by LHDN without notice or notification, one of it is under Section 107C(9), of the Income Tax Act, 1967....
12,9580
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