GSK & AssociatesOct 9, 20232 minWaiver 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.
GSK & AssociatesSep 22, 20236 minBudget 2023 - Corporate and Individual tax in MalaysiaExplore the Impact of Malaysia's Budget 2023 Key Tax Changes on Corporate and Individual Tax in Malaysia.
GSK & AssociatesMar 12, 20232 minIndividual income tax in MalaysiaIndividual income tax in Malaysia with details of tax due dates, residence status, reliefs and rebates for the year of assessment 2022.
GSK & AssociatesJul 20, 20224 minReduced rates for tax penaltiesEffective 1 May 2022, tax penalties imposed under Section 113 (2) of the Income Tax Act, 1967 (ITA) are at a new, reduced graduated scale.
GSK & AssociatesFeb 14, 20227 minBudget 2022 - Key Tax Changes in MalaysiaBudget 2022 and Finance Act 2021, changes in tax rules for foreign-sourced income, introduction of new withholding tax of 2%, power to call
GSK & AssociatesMay 26, 20212 minLate filing of Income Tax Returns (ITRF) - New Penalty RatesNew penalty rates for Late filing of Income Tax Returns in Malaysia effective from 1 October 2019.
GSK & AssociatesFeb 7, 20216 minIncome Tax, SST, RPGT and Stamp Duty - Exemptions Malaysia - COVID-19 Measures, includes Budget 2022Income tax rebate of RM20,000 per year for first 3 years will be given for SMEs under the PENJANA initiatives by Malaysian Government.
GSK & AssociatesNov 22, 20203 minRestriction on Deductibility of Interest - Section 140CSection 140C is a new section in Malaysian Income Tax Act, 1967 (ITA), introduced via Finance Act 2018, effective from 1 July 2019. 1....
GSK & AssociatesNov 16, 20204 minChanges 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.