Malaysia Investment Performance 2015: Driving Sustainable Growth A moderate global growth was recorded in 2015, which declined to 2.4 per cent from 2.6 per cent in 2014, due to post-crises lows in commodity prices, restrained capital flows and subdued global trade. Malaysia, however managed to retain its position as one of the top investment destinations…
3E Accounting, Malaysia – New Office Expansion to Menara Centara In response to fast growth and demand, it is a great pleasure to announce the relocation of 3E Accounting’s office to Menara Centara with effect from 15th February 2016. We are glad to announce the completion of our Malaysia office expansion where we have moved…
Commercial Property More Than RM2 Million have to Registered for GST in Malaysia Custom Malaysia has updated silently the DG’s Decision 4/2014 Item 6 and the amendments were effective from 28 October 2015. This DG’s decision clarifies the GST treatments for Individual supplies commercial properties i.e. whether an individual has to charge GST when…
IESBA Invites Comments on Limited Re-Exposure of Proposed Changes to the Code Addressing the Long Association of Personnel With an Audit Client The International Ethics Standards Board for Accountants (“IESBA”) has, on 4 February 2016, released an Exposure Draft (“ED’) titled “Limited Re-exposure of Proposed Changes to the Code Addressing the Long Association of Personnel…
MASB defers accounting changes for associates and joint ventures (31 December 2015) The Malaysian Accounting Standards Board (MASB) today has deferred the effective date of Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to MFRS 10 and MFRS 128). However early application of ‘Amendments to MFRS 10 and…
Accounting Standards for Malaysian SMEs to include latest improvements (28 October 2015) The Malaysian Accounting Standards Board (MASB) today issued limited amendments to the Malaysian Private Entities Reporting Standard (MPERS). These amendments shall be effective for annual periods beginning on or after 1 January 2017, but early application is permitted. The most significant change is…
MASB launches Malaysian Private Entities Reporting Standard (MPERS) (27 October 2015) The Malaysian Accounting Standards Board (MASB) today launched Malaysian Private Entities Reporting Standard (MPERS), the new financial reporting framework for private entities. The MPERS is practically identical to the International Financial Reporting Standards (IFRS) for SMEs set by the International Accounting Standards Board (IASB),…
3E Accounting Launches The Global Accounting Network – 3E Accounting International As one of the leading one-stop corporate solution providers in Singapore, 3E Accounting today launched a unique global network – 3E Accounting International. The global network will capitalise the professional knowledge and expertise of its network members to provide corporate solutions to customers across…
Want to Maintain your EPF Contribution at 11%? Download the Form 17A here Following Prime Minister YAB Datuk Seri Najib Tun Abdul Razak’s announcement during the presentation of the revision of Budget 2016 today, the Employees Provident Fund (EPF) announces the reduction in the employees’ monthly statutory contribution rate from 11% to 8% for members below age 60 and…
The revised Budget 2016 has announced that the Employee’s Provident Fund (EPF) will be reduced by 3% beginning March 2016 to December 2017 as part of. What will you choose – 8% or 11%? There are many factors need to be taken into consideration before making a decision whether the 3% reduction is worth taking…