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, 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.
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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 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
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.
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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
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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.
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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.
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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).
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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....
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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
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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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?
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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.
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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
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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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GSK & Associates
Apr 1, 20192 min read
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...
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GSK & Associates
Mar 31, 20191 min read
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....
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