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. For more information, refer to the Inland Revenue Board of Malaysia (IRBM). Quick Links Personal Income Tax…
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…
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…
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…