Bright Outlook for Malaysian Rubber Industry KUALA LUMPUR: Once a major source of income for the country, the production of rubber was reportedly declining and some investors even labeled it as a sunset industry. However, the recovery in the global economy and the shortage of natural rubber have since enhanced prospects for the industry this…
Tax Filing Programmes for Income Tax Return in the Year 2016 The Inland Revenue Board has issued a filing programme for Income Tax Return Forms in the year 2016. Here’s some quick information for tax payers. What’s my deadline for filing taxes? Which form do I fill? 30 April 2017 for individuals without business…
Dear Reader, Welcome to our E-Newsletter March 2017 The world economy has struggled on a path to uniform and widespread economic stability. The downturn in economic activity at the national level with its pronounced effects on the commercial and hospitality sectors has afflicted many businesses. However, 3E Accounting Malaysia manages to weather the difficulties and…
Update on GST and commercial property in Malaysia Do you know that you need to register for GST when investing in commercial property? It is a crucial step in your investment roadmap. However, some investors might forget to include GST into their budget and this is a big mistake- because the figures involved can be…
Amendments To Form E, CP8D, EA & EC in Respect of Remuneration for The Year 2016 The IRB has recently updated the following: Filing program for 2017 tax returns 2016 version of Forms EA, EC and CP 8D (employer related) With regards to the amendments of Form C.P.8D and Form EA / EC, the improvements…
How Does Monthly Tax Deduction (MTD/PCB) Work In Malaysia? Monthly Tax Deduction (MTD or PCB, Potongan Cukai Bulanan) was introduced in January 1995, is a system of tax recovery where employers make deductions from their employees’ remuneration every month in accordance with the PCB deduction schedule. This is mandatory, in that neither the employer nor…
Malaysia – a leading investment hub in Asia KUALA LUMPUR: Last year alone, Malaysia signed a total 14 agreements with China totalling close to RM144 billion ranging from property development, steel manufacturing and technology. According to Malaysian Prime Minister, Datuk Seri Najib Abdul Razak, the economic trade between the two nations had grown tremendously and…
Dear Reader, Welcome to our E-Newsletter February 2017 Our Expansion Quest We would like to take this opportunity to share with you our excitement in welcoming another 2 new members from across the globe, to our 3E Accounting International network. We have recently completed our partnership agreement with our new members, Wisteria Ltd from United…
MASB issues amendments to several Standards and a new Interpretation (29 December 2016) The Malaysian Accounting Standards Board (MASB) has today issued a few amendments to certain existing Standards and one new Interpretation. They are: (1) Malaysian Financial Reporting Standards (MFRSs) > Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts (Amendments to MFRS…
Trader are only allowed to organise four (4) special sales a year starting in 2017 Under the new rules starting from January 1, 2017, traders and retailers are allowed to hold just four mega sales a year, compared to five times previously. Three of the new sales dates are to be set by the Government…