Notice Regarding GST Price Displays

Notice Regarding GST Price Displays 30 May 2018 – The Royal Malaysian Customs Department (RMCD) is issued a notice regarding the change in GST rate. This notice provides customers with the guidelines about the price tag changes which began on the 1st of June 2018 when the GST rate was zeroed out.   Key highlights…

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Tax Incentive for Returning Expert Programme

Tax Incentive for Returning Expert Programme The Inland Revenue Board of Malaysia (IRBM) recently issued the Public Ruling (PR) No. 2/2018: Tax Incentive for Returning Expert Programme. The objective of this PR is to explain the tax treatment relating to tax incentives in respect of the Returning Expert Programme to attract Malaysian citizens who work…

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MASB Issues Revised Framework

MASB Issues Revised Framework On April 30, 2018, the Malaysian Accounting Standards Board (MASB) issued a revised Conceptual Framework for Financial Reporting and amendments to fourteen Standards under the Malaysian Financial Reporting Standards Framework. According MASB Chairman, Mohamed Raslan, the revised Conceptual Framework and Amendments to References to the Conceptual Framework in MFRS Standards are word-for-word…

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Narrow – Scope Amendments to Pension Accounting in Malaysia

Narrow – Scope Amendments to Pension Accounting in Malaysia The Malaysian Accounting Standards Board (MASB) recently issued narrow-scope amendments to pension accounting. The amendments to the Malaysian Financial Reporting Standards (MFRS) Employee Benefits are word-for-word Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) issued by the International Accounting Standards Board. Under the amendments, an…

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New Trade Deal Signed By 11 Countries

New Trade Deal Signed By 11 Countries Eleven countries in the Trans-Pacific Partnership free trade agreement recently sent a strong message to Washington against its increasing protectionism in trade. The countries proceeded to sign a new deal known as The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It was signed in Santiago, Chile, by…

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