News & Articles

REVISION TO THE EXPANDED SALES TAX AND SERVICE TAX TAKE INTO ACCOUNT PUBLIC AND INDUSTRY FEEDBACK...

Disposal of Capital Assets Subject to CGT (effective from 01 March 2024) a) Situated in Malaysia i) Shares of a company incorporated in Malaysia not listed on the stock exchange. ...

SVDP was first introduced in Budget 2019 which was for applications made during the period between 3 November 2018 to 30 September 2019. The objective of introducing SVDP was to incentivize taxpayers who have not paid their taxes or have under-paid their taxes. Some key statistics from SVDP were:...

FAQ on tax matter during the MCO 3.0...

The Companies Commission of Malaysia (“CCM”) has issued the Guideline For The Reporting Framework For Beneficial Ownership Of Legal Persons, effective on 1 March 2020 (“the Guideline”) to provide guidance to business entities in complying with the requirements to obtain, keep and hold up-to-date BO information in accordance with Section 56 of the Companies Act 2016 (“the Act”)....

We are now living in unprecedented times of a global pandemic due to COVID-19. During this ongoing crisis, the Government recognizes the challenges faced by individuals, businesses and the economy at large....

Updated as at 28 April 2020...

Updated as at 17 April 2020 ...

Wages Subsidy Program (WSP) -A wage subsidy programme was announced by the government on 6 April 2020 as part of its economic stimulus package for SME....

Is the global recession late? AGN Global Business Voice: In this edition, we asked our global panel of SME business advisers - “where is the recession?”. The AGN Global Business Voice (GBV) ...

On 14th September 2019, a “ Countdown to Special Voluntary Disclosure Programme (SVDP)” event was conducted by the Inland Revenue Board...

The Budget Highlights is based on the info available as at 02.11.2018 in the Finance Bill 2018. It has been written in general terms for broad guidance only. We do not accept or assume any liability for any loss arising by anyone for any decision made based ...

As announced by the Finance Minister during the tabling of the 2019 Budget last year, the government will launch the SVDP beginning 3 November 2018 to 30 June 2019. ...

On 27 September 2018, the Companies Commission of Malaysia (CCM) has launched the Malaysian Business Reporting System (MBRS), a digital submission platform, with the primary aim to improve financial and business reporting and to phase out over-the-counter manual submissions of Annual Returns (AR), Financial Statements (FS) and Exemption applications (EA) related to the FS and AR. ...

The Budget Highlights is based on the info available as at 27.10.2017 in the Finance Bill 2017. It has been written in general terms for broad guidance only. We do not accept or assume any liability for any loss arising by anyone for any decision made based on it. Please contact GEP Tax Services Sdn Bhd if you wish for further input on the matter....

On 14 February 2014, the Malaysian Accounting Standards Board (MASB) issued a new financial reporting framework for private entities ~ the Malaysian Private Entities Reporting Standard (MPERS). ALL private entities shall apply the MPERS (2014) for its financial statements beginning on or after 1 January 2016. The MPERS (2014) is word-for-word the IFRS for SMEs issued by International Accounting Standards Board (IASB)...

4 April 2016 Passed By Dewan Rakyat 28 April 2016 Passed by Dewan Negara 15 September 2016 Gazetted as Act 777 The New Companies Act 1. WILL FACILITATE Ease of Starting a Business and reduction of Cost 2. PROVIDE FLEXIBILITY Allows more leeway in managing internal affairs ...

KUALA LUMPUR: Beginning next year, the country’s tax authorities will launch operations to search for tax evaders and improve tax compliance. The task force, which will begin operations on Jan 1, comprises 272 intelligence officers and tax investigators, says Inland Revenue Board (IRB) chief executive officer Datuk Sabin Samitah. The task force is aiming to collect some RM2bil next year. He added the task force wi...