Dear Reader, Welcome to our E-Newsletter June 2016 We are glad to present you our newsletter for June 2016. For new updates and developments, stay tune with us and refer to the details in our newsletters. Thank you. Read More in our E-Newletters June 2016.
LHDNM – Clarification on Income Tax for Online Businesses Lembaga Hasil Dalam Negeri Malaysia (LHDNM) has announced that there are no specific provisions regarding the income tax treatment for online businesses in Malaysia, which is treated in the same way as the income tax for offline/conventional businesses. For online businesses that are run by individuals,…
Comparison of PERSs, MPERS and MFRSs in Malaysia In February 2014, the MASB issued Malaysian Private Entities Reporting Standard (MPERS) and this sets a new milestone for financial reporting of private entities in Malaysia. MPERS is based substantially on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the…
Dear Reader, Welcome to our E-Newsletter May 2016 We are glad to present you our newsletter for May 2016. Please be informed of the change in our Company’s mobile number to +6012 313 7728. Please use this number if you wish to SMS or whatsapp us. This month, we have also completed our partnership agreement with…
Malaysia, Evidently at The Forefront of The Halal Industry Malaysia is evidently at the forefront of the Halal industry. Malaysia’s Halal certification has gained recognition globally. Based on the State of Global Islamic and Economic Report 2015/2016, Malaysia was ranked as the best developed Islamic economy out of 73 core countries. This includes ranking 1st…
Additional Time to Submit Form Before E-Filing Inland Revenue Board of Malaysia ( IRBM ) has informed that the submission of Form BE Year of Assessment 2015 for e – Filing will be extended until 15 May 2016. Click here for more information. Quick Links Personal Income Tax Submission
MASB issues limited amendments to two Standards On 16 April 2016, the Malaysian Accounting Standards Board (MASB) has issued the following pronouncements: (1) Malaysian Financial Reporting Standards (MFRSs) (i) Disclosure Initiative (Amendments to MFRS 107) (ii) Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to MFRS 112) (2) Financial Reporting Standards (FRSs) (i) Disclosure…
MASB issues new Standard which requires lessees to recognise all leases on balance sheet On 15 April 2016, the Malaysian Accounting Standards Board (Board) has issued MFRS 16 Leases to replace the existing Standard on Leases, MFRS 117. MFRS 16 is word-for-word IFRS 16 Leases as issued by the International Accounting Standards Board, and has…
Interview with Channel NewsAsia Partner of 3E Accounting Malaysia, was recently honoured to be interviewed by Channel NewsAsia upon receiving the TAFEP Exemplary Employer Award 2016 in Singapore. TAFEP Exemplary Employer Award recognises exemplary organisations that have effectively implemented fair, responsible and progressive employment practices. 3E Accounting is proud to be one of the exemplary organisations…
Notification of Penalty Due to Failure/Late Payment of Goods and Services Tax In accordance with amendments made to Section 41 of the Goods and Services Tax Act 2014, with effect from 1/1/2016 failure to pay the amount of goods and services tax to be paid within the period specified will be penalized. Imposition of penalties…