Is ESG relevant to SME? What is ESG? ESG stands for Environmental, Social, and Governance. ESG considerations have become increasingly important in recent years as investors, financiers, consumers, governments, and many different stakeholders demand more transparency and accountability from businesses, and as companies recognize the long-term benefits of sustainable and ethical practices. The Environmental component…

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E-Invoice (Electronic Tax Invoice) What’s E-Invoice? E-invoicing refers to the exchange of invoices in a structured data format between the buyer and supplier, allowing for electronic and automatic processing. This form of invoicing should be legally recognized for tax and contractual purposes, and laws must be modified to acknowledge e-invoices as valid documents. In essence,…

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Tax Budget 2023 Highlights: Stamp Duty and Real Property Gains Tax Some of the key tax highlights: Stamp Duty 1. Gift of Real Property between Family Members Presently, gift of real property between husband and wife is given full stamp duty exemption on the transfer of ownership while gift between parents and child is given…

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Tax Budget 2023 Highlights: Corporate & Business Tax Some of the key tax highlights: Corporate & Business Tax 1. Tax Rates Adjustment for MSME With effect from YA 2023, the income tax rate for MSME (Micro, Small and Medium Enterprises) will be adjusted to: 2. Re-definition of “plant” for capital allowance purpose Previously, the phrase…

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Tax Budget 2023 Highlights: Personal Tax Some of the key tax highlights: Personal Tax 1. Tax Rates Adjustment for Resident Individual With effect from YA 2023, the income tax rate for tax resident individual would be revised where: Tax Planning Consideration: 2. Personal Reliefs – Medical Expenses Scope of tax relief for medical expenses for…

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