Every Company Needs to Submit Your Form E What is Form E? Who needs to file the Form E? What if you fail to submit Form E? Borang E is an Employer’s (annual) Return of Remuneration for every calendar year and due for submission by 31st March of the following calendar year. According to the…
IRBM Public Ruling No. 7/2016 We are hereby informed that the Inland Revenue Board of Malaysia (IRBM) has, on 7 October 2016, issued Public Ruling (PR) No. 7/2016: Basis Period for Companies Under Liquidation. The objective of this PR is to explain the determination of the basis period for companies under liquidation. Related Links…
Implementation of Online Submission for The Application of Import Duty Exemption on Machinery & Equipment and Raw Materials & Components All applications for import duty exemption which involve PC1, PC Services, PC2, PC2A, PC2-1, SPM1 and SPM2 need to be submitted online with effect from 1 November 2016. With effect from 1 November 2016, all…
Imposition of Compound on Registrants who fail to make GST payments within a prescribed period Registrants who still have outstanding tax in the year of 2015 will be given until 31 October 2016 to pay the outstanding amount. Failure to do so will be imposed a compound to the maximum amount of RM 20,000. Registrants…
Penalty/Fine in Malaysia for the Loss of Secretarial File, Secretarial File Get Burned or Stolen What happen if your secretarial file got burned or stolen? Loss of secretarial file is definitely something that caused you great pain. Under the Companies Act 1965, S156: Failure to have minutes of proceeding entered into the minute’s book.…
GST Treatment for Imported Services (Reverse Charge) What is the GST treatment for imported services? GST treatment for imported services is through a concept of “reverse charge”. Reverse Charge Mechanism also known as Self Recipient Accounting (RSA). Since the supplier is not in Malaysia and he/she supplies services to a customer in Malaysia, he/she does…
Dear Reader, Welcome to our E-Newsletter October 2016 It’s time for new updates and interesting news again! What do we have for you this month? Needing any global reach? If you are looking at business expansion or reaching out to people globally, yes, we could assist you even better now. During the month, we…
Hire illegals and we will freeze assets, warns Immigration On 13 September 2016, DG says Immigration Dept will start using full provision of law to punish employers who flout law by hiring and protecting illegal foreign workers. Pointing to a provision under Section 56(1) of the Immigration Act, the department’s director-general Mustafar Ali said the…
Reminder for register online business with SSM Many people dabble in business online to supplement their income, but did not register company or business with the Companies Commission of Malaysia (SSM) to avoid Inland Revenue Board queries. This is an offence punishable under the Registration of Businesses Act. For those who make use of social…
3E Accounting Malaysia Earns Recognition as a Top Industry Player in Malaysia Malaysia Brand recognises 3E Accounting Malaysia as a top industry player in the country for incorporation and accounting services. 3E Accounting Malaysia made the headlines this week when Malaysia Brand recognised 3E Accounting Malaysia as a top industry player 2016 / 2017 in…