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 […]
How Does SOCSO Works In Malaysia
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/3pisPnMWlUE”][/vc_column][vc_column width=”1/2″][vc_column_text] Introduction of Social Security Organization Social Security Organization (SOCSO) is a Malaysian agency that was established to provide social security protection to Malaysian employees or in simple words, an insurance coverage if there is an accident happen to the employee in the work place. Who Are The Employees Reference to s.2 […]
How Does Employee Provident Fund (EPF) Works In Malaysia
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/NICEyURBPXo”][/vc_column][vc_column width=”1/2″][vc_column_text] Objective of Employee Provident Fund Employee Provident Fund (EPF) is to ensure employees in the private sector are financially secure after retirement, hence a scheme of compulsory contribution and saving was enforced by the Government. Who Are The Employees Under Employee Provident Fund Act 1955 As defined in the EPF Act […]
Employer Obligation under Malaysian Employment Act
[vc_row][vc_column width=”1/2″][vc_video link=”https://youtu.be/zDqTt5YhY0I”][/vc_column][vc_column width=”1/2″][vc_column_text] Introduction to Employment Act The main legislation governing employment is the Employment Act 1955. The Employment Act came into force effective 1 June 1957 which applies only to West Malaysia. Effective 1 November 2000, it also applies to the Federal Territory of Labuan. Who are Employees Pursuant to First Schedule of […]
