May 31, 20182 minGST Rate will be revised from 6% to 0%The newly elected government of Malaysia has announced the reduction of the Goods & Services Tax (GST) rate from 6% to 0% effective 1...
May 9, 20182 minAdvance payments are taxable!Is business income taxed on accrued or receipt basis? Prior to year of assessment 2016, it was a generally accepted principle that...
Apr 9, 20183 minOnline advertising services provided by non-residents are subject to withholding taxThe Inland Revenue Board of Malaysia (IRBM) has issued a practice note entitled “Practice Note 1/2018 – Tax Treatment on Digital...
Mar 5, 20182 minAccrued Director Fee and Tax Treatment Prior to year of assessment 2015, directors fees are taxable in the hands of the directors when they are paid. However, with Section...
Jan 8, 20183 minIRB knows how much you have in that offshore bank account (AEOI explained in layman’s terms)Key points: a. Malaysia is a participating country of AEOI System (Automatic Exchange of Information) initiated by the OECD. b. Malaysian...