What is the Tax Treatment of Tax Borne By Employers? – LATEST UPDATE : PUBLIC RULING NO. 11/2016
PUBLIC RULING NO. 11/2016 : TAX BORNE BY EMPLOYERS The objective of PUBLIC RULING NO .11/2016 : TAX BORNE BY EMPLOYERS is to explain the computation of – (a) perquisite relating to income tax of an employee borne by an employer; and (b) tax payable by the employee who is entitled to this perquisite. What […]
What is the Tax Treatment of Gratuity Received? – LATEST UPDATE : PUBLIC RULING NO. 9/2016
PUBLIC RULING NO. 9/2016 : Gratuity The objective of this PUBLIC RULING NO. 9/2016 is to explain the method used to characterise lump sum payments received by employees upon the termination of their employment as gratuity and the tax treatment of gratuity. What is gratuity? When an individual ceases employment upon resignation or retirement, he […]
PUBLIC RULING NO. 5/2019 : Perquisites From Employment
PUBLIC RULING NO. 5/2019 : Perquisites From Employment The objective of this PUBLIC RULING NO. 5/2019 : Perquisites From Employment is to explain the tax treatment on perquisites from an employment received in respect of having or exercising the employment in Malaysia. What are perquisites? According to Public Ruling No.5/2019, perquisites are defined as benefits in […]
Finance Bill 2023 : What are the highlights and benefits to us?
![Finance Bill 2023: What are the highlights and benefits to us? [Part 2]](https://ancgroup.biz/wp-content/uploads/2023/05/FW1289389_PTJ03_24022023_PM-lpr.jpg)
Finance Bill 2023 : What are the highlights and benefits to us? This TaxLetter is a continuation of our WordPress – Budget 2023: What are the highlights and benefits to us? In the the WordPress – Budget 2023: What are the highlights and benefits to us?, we focus on Budget Proposals announced by the Prime Minister’s Budget Speech […]
Budget 2023: What are the highlights and benefits to us?
Revised Budget 2023: What are the highlights and benefits to us? Themed Developing A Civil Malaysia (“Membangun Malaysia Madani”), the revised Budget 2023 proposals were formulated to reflect the principles of accountability and a noble value system that is capable to face the upcoming global economic challenges. The revised Budget 2023 aims to build a […]
Public Ruling No. 6/2022 : Accelerated Capital Allowance
Public Ruling No. 6/2022 – Accelerated Capital Allowance The objective of Public Ruling No. 6/2022 (“PR”) explains the tax treatment on qualifying plants and machinery for the purpose of claiming Accelerated Capital Allowances (“ACA”) or the prescribed rates in determining the statutory income from a business. Qualifying Expenditure A new subparagraph of 6.3 was inserted […]
Public Ruling No. 7/2022 : Venture Capital Tax Incentives
Public Ruling No. 7/2022 : Venture Capital Tax Incentives The objective of Public Ruling No. 7/2022 is to explain the tax incentives in relation to the venture capital industry in Malaysia. A Venture Capital Companies (“VCC”) means a company that is: Incorporated under the Companies Act 2016 to obtain funds from investors (equity capital) or […]
Public Ruling No. 5/2022 Taxation of Resident Individual Part II – Computation of Total Income and Chargeable Income in Malaysia (Latest Update 2023)
Taxation of Resident Individual Part II – Computation of Total Income and Chargeable Income This Public Ruling No. 5/2022 (“PR”) will supersede PR No. 5/2018 dated 13 September 2018. The content of the Public Ruling No. 5/2022 is broadly identical to the earlier PR No. 5/2018 which explains the computation of total income and chargeable income of […]
Real Property Gains Tax (“RPGT”): Understanding the Tax Treatment in Malaysia (Latest Update 2023)
Tax Treatment on Real Property Gains Tax (“RPGT”) The Real Property Gains Tax Guidelines 2023 (2023 Guidelines”) incorporate and demonstrate the legislative changes introduced to RPGT Act 1976 which includes the following: The RPGT rates that apply, depending on the category of taxpayer (refer to Appendix 1 to The 2023 Guidelines). The rates that apply […]
Tax Treatment in Relation to Foreign Source Income Received in Malaysia (Amendment)
Tax Treatment in Relation to Foreign Source Income Received in Malaysia (Amendment) The contents of this Guideline regarding the Tax Treatment in Relation to Foreign Source Income Received in Malaysia (Amendment) have been published in Malay Technical Guidelines dated 29 September 2022 titled “Layanan Cukai Berhubung Pendapatan Yang Diterima Dari Luar Negara” which was superseded […]
