Singapore Income Will Not Be Taxed

Singapore Income Will Not Be Taxed

Singapore Income Will Not Be Taxed – The Statement of Inland Revenue Board of Malaysia The Inland Revenue Board of Malaysia (Lembaga Hasil Dalam Negeri Malaysia or LHDN) released a statement addressing the confusion over the revenue received from Singapore and the basis of determining resident status for purposes of imposition income tax. Generally taxable…

Malaysia Business Support Services

Filing of Income Tax Return Forms Based on Unaudited Accounts

The Procedure for the Filing of Income Tax Return Forms Based on Unaudited Accounts As of 4 August 2017, Malaysia’s SSM (Suruhanjaya Syarikat Malaysia) has issued Practice Directive No. 3/2017. This directive was named Qualifying Criteria for Audit Exemption for Certain Categories of Private Companies. Under this directive, dormant companies, threshold-qualified companies and zero-revenue companies…

SSM Registered Business Entities to Have New Format for Registration Numbers

SSM Registered Business Entities to Have New Format for Registration Numbers

SSM Registered Business Entities to Have New Format for Registration Numbers Business entities registered in Malaysia will now have a new registration number format when they register with the Companies Commission of Malaysia (SSM). Beginning January 2019, these new registration numbers for business will contain 12 digit characters which are designed to help facilitate data…

IRBM Launches Special Program for Voluntary Disclosure

IRBM Launches Special Program for Voluntary Disclosure

Malaysia’s Inland Revenue Board Launches Special Program for Voluntary Disclosure On 3 November 2018, the Inland Revenue Board of Malaysia (IRBM) issued its Operational Guidelines No. 1/2018. This guideline outlines the implementation procedures of the Special Program for Voluntary Disclosure (Special Program), which is eligible for taxpayers. Malaysia’s Tax Reform Committee is part of the…

Smoking Ban to Be Imposed at All Malaysian

Smoking Ban to Be Imposed at All Malaysian

Smoking Ban to Be Imposed at All Malaysian Eateries From 1 Jan 2019 Starting from 1 January next year, a smoking ban will be enforced at all Malaysian restaurants nationwide. This includes hawker stalls and coffee shops, covering air-conditioned and non-air-conditioned eateries, street stalls and open-air hawker centers. Malaysia’s Deputy Health Minister stated during a…