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Refurbishment and Renovation Cost of the Business Premises is a Valid Tax Deduction

The tax deduction of an amount up to RM300,000 on the renovation and refurbishment of any business premises was proposed earlier. Now the rules regarding this particular tax...


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Tax Reliefs and Changes to Expect From YA2020

Talking about the Year of Assessment 2020, the Malaysian government has introduced a considerable number of income tax changes and reliefs. These amendments are permanent additions, which were...


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Budget 2021 and Finance Bill 2020: What Types of Tax Amendments are Introduced

Budget 2021 and Finance Bill 2020: What Types of Tax Amendments are Introduced?   On 6 November 2020, the Minister of Finance presented the Budget 2021 in the Malaysian Parliament....


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Malaysian Government is Thinking about Re-implementing GST in 2022 or 2023

The Malaysian government is planning to re-implement goods and services tax (GST); however, this decision is likely to be implemented in 2022 or 2023. Hence, it is anticipated that...


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Extended Tax Cut for Landlords Offering Rentals to SMEs at Reduced Rates

The landlords who offer their premises to SME’s at reduced rates (at least 30% less) can continue to enjoy extended tax cut till March next year—The Finance Minister...


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Difference between Audit and Assurance Services

Both audit and assurance services play a key role during the evaluation of a company’s financial record. These procedures are followed to verify the accounting record available with...


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Tax Highlights 2021

The Malaysian Budget 2021 was announced on 6 Nov 2020, which is mainly focused on three major goals naming business continuity, Rakyat’s well-being, and economic resilience. To achieve...


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Is it Feasible for Malaysia to Revamp its Corporate Tax Rate 2020?

Whether it is possible for Malaysia to lower its corporate tax rate 2020 during the prevailing economic situation or it should rely on its incentive-based strategy. The answer...


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Proposed Income Tax Malaysia Benefits in the Budget 2021: These Tax Cuts would Benefit those earning RM50K to RM70K Annually

While proposing Budget 2021, the Malaysian government has recently announced a noticeable reduction in the income tax rates. During the budget session, Finance Minister Datuk Seri Tengku has...


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Corporate Tax Malaysia: All You Need to Know

Corporate tax Malaysia is charged to the resident company or Sdn Bhd receiving income within Malaysia and outside Malaysia for a firm holding insurance, air transportation, sea, and...


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