Tax-Related Concession Special voluntary Disclosure Programme by the Royal malaysian Customs Department (RMCD) to be introduced. Remission of penalty – 100% for Phase 1 and 50% for Phase 2. No real property gains tax on disposal of chargeable assets by…
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…
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…