CA LOW & Co News & Highlights
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Tax clearance letter for Employee
Tax Clearance Letter for Employee 1. Introduction The SPC (Surat Penyelesaian Cukai) is a certification issued by LHDNM to employers regarding the tax affairs of employees who are terminating their employment, retiring, deceased, or planning to leave Malaysia. This guideline is intended to explain the procedures from the application’s receipt to the full settlement of…
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IRB: ADVANCE PRICING ARRANGEMENT 2024
IRB ADVANCE PRICING ARRANGEMENT 2024 The Advance Pricing Arrangement (APA) provides a framework for taxpayers and tax authorities to avoid future transfer pricing disputes by determining the transfer pricing methodology (TPM) for transactions between related parties across borders. Here’s a detailed analysis of the key components and provisions of the APA based on the provided…
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Capital Gains Tax Malaysia
Capital Gains Tax Malaysia – Disposal of Foreign Capital Assets The IRB has issued a guideline dated 27-3-2024 titled “Tax Treatment on Gains from the Disposal of Foreign Capital Assets Received from Outside Malaysia.” Generally, the disposal of all types of foreign capital assets received in Malaysia by a resident company, resident LLP, resident trust,…
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Tax Relief Personal Tax – YA 2023
Tax Relief Personal Tax – YA 2023 A summary of the key relief available to resident individual for Year of Assessment 2023 Item Description Amount 1 Medical expenses, Carer, Special Needs Expenses expended on own parents 8,000 max 2 Medical expenses expended on self, spouse or child with serious disease, and for fertility treatment, including…
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SME Definition (SME Corp vs Income Tax)
Small & Medium Enterprises (SME) Introduction Small and Medium Enterprises (SMEs) serve as the backbone of Malaysia’s economic landscape, injecting vitality and dynamism into the nation’s financial framework. These enterprises contribute significantly, accounting for over one-third of Malaysia’s Gross Domestic Product (GDP). Additionally, SMEs are substantial job creators, offering employment to over four million individuals…
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Accountants Near Me : Outsourcing Solutions
Accounting Services Hello, bosses! Tired of training accounting staff? Need someone to take charge of your Accounting Department? Are you still stuck with these? Let us complement your business No need to stress over those concerns. In fact, you can reduce costs by outsourcing to us. We go beyond providing basic bookkeeping or financial statement…
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Employment Act – Key Amendments
Changes to Employment Act Does EA apply to me? In the past, the Employment Act was only applicable to employees earning a maximum of RM2,000 per month. However, the updated Act now covers all employees, regardless of their wages with the exception that certain specific sections will not be applicable to employees earning more than…
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Income Tax Rates
Income Tax Rates (Malaysia) Year of Assessment 2023 Resident Individual Resident Company Year of Assessment 2022 Resident Individual Resident Company [Back to Home]
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