Economy and investments GLCs and GLICs to allocate RM1.5 billion to support startups involved in high-growth, high-value areas. RM100 million for the Malaysia Co-Investment Fund scheme (MyCIF) over three years to support initiatives related to the environment, society, food security…
Budget 2023
Ministerial allocations Education Ministry receives the highest allocation of RM55.2 billion, up from RM52.6 billion in 2022. Health Ministry receives the second-largest allocation of RM36.3 billion, up from RM32.4 billion last year. Mostly to buy medicine, reagents, vaccines and consumables,…
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…