Tax Relief SSPN savings RM 8,000 tax relief on net annual savings in National Education Saving Scheme (Skim Simpanan Pendidikan Nasional “SSPN”) extended until 2022 to help parents save for their children’s higher education. PRS contribution RM 3,000 tax relief…
Inland Revenue Board FAQ during Movement Control Order
2015 Monthly Tax Deduction from Remuneration (“PCB”) amendment
Please be informed that P.U.(A) 263/2014 Income Tax (Deduction From Remuneration)(Amendment)(No.2) RUles 2014 has been gazetted on 31 Dec 2014. Among the Statutory changes are as follow – 1. "Remuneration" means income in respect of gains or profits from an…
Personal Data Protection Act 2010
Personal Data Protection Act 2010 (PDPA) comes into operation on 15 Nov 2013. The PDPA is a legislation that seeks to regulate the processing of personal data by data users in commercial tranactions, so as to safeguard the interests of data…
Deemed Interest on loans or advances to director
Effective from YA 2014, it is proposed that a Company is deemed to have gross income consisting of interest from loan or advances to directors. The interest income is calculated based on the formula :- 1/12 x A x B A…