More Than 91,500 Jobs Created From 3,886 Projects Last Year Malaysia recorded a total of RM113.5 billion worth of approved investments involving 3,886 projects in the manufacturing, services and primary sectors from January to September, 2017. However, this was 26.5% lower than the investment of RM154.3 billion approved in the same period last year. These…
Recycling Old Clothes: No Waste, Just Charity Reducing Waste Through Charity is a Way to Save the Environment while Helping Out Many of us have loads of clothes. We usually have a habit of accumulating clothes from college days. Some even earlier than college days. This habit is not necessarily called hoarding, but it is…
MASB Announces Amendments The Malaysian Accounting Standards Board (“MASB”) recently announced certain amendments to the MASB approved accounting standards for application in relation to financial statements. These statements are those prepared or lodged under any law administrated by the Securities Commission of Malaysia, Bank Negara Malaysia or the Registrar of Companies: Long-term Interests in Associates…
Dear Reader, E-Newsletter December 2017 The world is changing and lifestyles are fast changing. Earlier this, Malaysia has seen a prosperous growth in economic performance. The World Bank has revised Malaysia’s gross domestic product (GDP) growth forecast for 2017 from 4.9% to 5.2% in June, while the World Bank had previously forecast Malaysia’s economy to…
Exemption from Withholding Tax for Services rendered and performed outside Malaysia Effective 6 September 2017, the Government through the Income Tax (Exemption) (No.9) Order 2017 (P.U. (A) 323) dated 23 October 2017, exempts non-resident person from payment of income tax in respect of income from services which are rendered and performed by the person outside…
Osram Sets Up New Plant in Malaysia Osram recently opened it’s new semiconductor plant at the Kulim Hi-tech Park in Perak, Malaysia. The opening was officiated by Malaysian Minister of International Trade and Industry (Miti), Datuk Seri Mustapa Mohamed. In his opening speech, the minister said Osram was a good example of companies that has…
The Advantages & Disadvantages of GST in Malaysia The Goods and Services Tax (GST) has been in effect for a while now in Malaysia. The GST is basically a form of taxation system imposed by the government where there is a single tax in the economy that is placed upon goods and services offered. The…
Malaysia Imposes Travel Ban On Those Who Fail To Settle Their GST Traders who fail to pay the Goods and Services Tax (GST) will be blacklisted from going abroad, the Royal Malaysian Customs Department has said. The Malaysian government recently announced that it will blacklist all traders who fail to pay the Goods and Services…
Malaysia Brands Awards Winner: Best Company Registration Specialist of the Year 3E Accounting Malaysia is honoured to be awarded the Best Company Registration Specialist of the Year in Malaysia 2017/2018 on 1 November 2017. This award was presented to 3E Accounting Malaysia for having innovative ways to engage clients and continuously striving as the top performing one-stop…
Dear Reader, E-Newsletter November 2017 October is another meaningful month for Malaysia. Despite the challenging external conditions, the Malaysian economy has seen monumental growth. Within the short span of a few months, we (Malaysia) made good progress on the economic development front. In particular, a 280 billion ringgit spending plan was announced in the final…