Overview of Malaysian Corporate Income Tax
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/ehJWz5evRbQ”][/vc_column][vc_column width=”1/2″][vc_column_text] Residence Status When preparing corporate income tax, it is important to determine the status of the company whether it is resident or non-resident because the rate of the corporate income tax will be different. s.8(1)(b) of the Income Tax Act refers to a resident status of a company. A company is […]
Real Property Gain Tax (RPGT): Capital vs Trading
[vc_row][vc_column][vc_column_text] Capital or Revenue Tax The conceptual difference between capital and revenue tax is that tax paid on income earned from wages, rent, interest and business are termed as revenue tax whereas capital tax is generally referred to tax paid on sale or exchange of an asset such as stock or property. There is no […]
Protecting Employees under Employment Insurance System (EIS)
[vc_row][vc_column width=”1/2″][vc_video link=”https://www.youtube.com/watch?v=stagLIuZgW0″][/vc_column][vc_column width=”1/2″][vc_column_text] Objectives of Employment Insurance System (EIS) EIS was first implemented in January 2018 and administered by the Social Security Organization or SOCSO. The EIS seeks to provide temporary financial assistance for up to six months to workers who are retrenched. It also aims to provide extended welfare coverage and aid in […]
Your Tax Obligation As An Employer
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/NqrOodUTYjs”][/vc_column][vc_column width=”1/2″][vc_column_text] Employer Tax Obligation under Income Tax Act As an employer in Malaysia, there are a couple of employer tax obligation that you have to comply with:- Firstly, companies are required to furnish a statement of remuneration, also known as the Form EA, to their employees by February each year. This allows […]
What Is Human Resource Development Fund (HRDF)
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/kfAPXa38fiU”][/vc_column][vc_column width=”1/2″][vc_column_text] Objective of HRDF Promote and stimulate manpower training. Assess and determine employee training with human resource needs of industries. Retain and upgrade skills of the employees and apprentices. By contributing to this fund, the contribution will enable the company’s employee to receive training and skills upgrading to develop quality human capital […]
Overview of Malaysia Transfer Pricing
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/MbCqPGPmNV8″][/vc_column][vc_column width=”1/2″][vc_column_text] Introduction of Transfer Pricing Transfer pricing is an accounting practice that represents the price that one division in a company/country charges another division in a company/counry for goods or services provided. As reference to Transfer Pricing Guideline 2012 in Malaysia and s.140A of Income Tax Act, a transfer price should be […]
How PCB/MTD Work?How Bonus Affects Your PCB Calculation?
[vc_row][vc_column width=”1/2″][vc_video link=”https://www.youtube.com/watch?v=l9h7LCrAJ4g” title=”Calculation PCB upon Receiving Bonus”][/vc_column][vc_column width=”1/2″][vc_column_text] Monthly Tax Dedudction/PCB An income tax deduction mechanism from an employee’s current monthly remuneration in accordance with the schedule of Monthly Tax Deductions (PCB) or other methods approved by the Director General according to the provision under rule 3, Income Tax (Deduction from Remuneration) Rules 1994 […]
Are You Subject to Sales Tax in Malaysia? How to Plan for Your Sales Tax?
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/A4bZ5eyHSv4?list=PLh_FME0Uc978pkuaEAfJBccX8rfJXRXCU”][/vc_column][vc_column width=”1/2″][vc_column_text] Registration of Sales Tax Every person engaged in the manufacturing of taxable goods in the course of business is required to apply to be a registered manufacturer not later than last day of the month following the month he is liable to be registered. Example, you are liable to register, meaning […]
What Is Accounting
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/KgLIw8cwiPU”][/vc_column][vc_column width=”1/2″][vc_column_text] Understanding Language of Business Accounting is the language of a business. It is a system of tracking the income, expenses, assets and debts of a business. When you looked at it with a trained eye, a business accounting records truly tells the story of the business, using nothing but a business’s […]
Financial Ratios And What They Reveal
[vc_row][vc_column][vc_column_text] Financial Ratios The purpose and importance of ratio analysis are to evaluate or analyze the financial performance of the company in terms of risk, profitability, solvency, and efficiency. It helps us to understand the health condition of a company by getting the information from financial statements. Profit Margin There are 2 kind of profit […]
