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What is covered under the Employment Act 1955

What is covered under the Employment Act 1955
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What do you need to know about the time & attendance in payroll?

Hours of Work

Section 60A(1) :

• Not more than 5 consecutive hours without a period of leisure of not less than 30 minutes duration

• Not more than 8 hours of Work in 1 day

• Not excess of a spread over a period of 10 hours in 1 day

• Not more than 48 hours in 1 week.

Rest Day

Section 59:

• At least 1 paid rest day per week

• Employer may determined from time to time

Work on rest day

Section 60:

• Employee shall be paid not less than 2 times his daily rate of pay.

• The same principle applies for overtime on the rest day.

Holidays

Section 60D:

Employee shall entitled to 11 gazetted public holidays, which must included:

1. National Day

2. Birthday of Yang-Di Pertuan Agong

3. Birthday of the Ruler or Yang di-Pertua Negeri or Federal Territory day

4. Labour Day

5. Malaysia Day

If employee is required to work on a public holiday:

• Employee shall be paid not less than 2 times his daily rate of pay

• Employee shall be paid at a rate not less than 3 times for overtime

Annual Leave

Section 60E:

Employee entitled to paid annual leave as follows:

• 8 days per year for employee who have worked less than 2 years

• 12 days per year for employee who have worked more than 2 years but less than 5 years

• 16 days per year for employee who have worked more than 5 years

For the incomplete 12 months of service:

• The employee is entitled to paid annual leave in direct proportion to the number of completed months of service.

Sick Leave

Section 60F:

Employee entitled to the paid sick leave as follows:

• 14 days per year if employed for less than 2 years

• 18 days per year if employed more than 2 years but less than 5 years

• 22 days per year if employed more than 5 years

If hospitalization is necessary:

• Employee is entitled to paid sick leave of 60 days.

• Inclusive of the paid sick leave entitlement stated in above

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

如何搞懂外汇兑现 在帐目上呈现

如何搞懂外汇兑现 在帐目上呈现
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您是不是经常搞不懂外汇兑现在帐目上如何呈现? 

 

相信每个会计员都会对外汇的账目充满疑问。究竟为什么以会计的角度我们还是必须调整外汇兑现呢?原因就是为了呈现最完整与准确的会计报表,让公司可以更好的去规划与做财务方面的决定。可别小看这区区的外汇之差,外汇的数额越高越是会影响整个报表的利润哦!  

 
今天我们就以会计的角度带大家来了解这个课题 

 

1什么是已实现 Realised)与未实现(Unrealised)的外汇损益 

  • 外汇损 

是指本地公司与外国公司之间通过外币进行交易时,因货币汇率的差异而产生的损益 

 
 

  • 已实现的外汇损 

当以外币进行的交易完成付款时,就会产生已实现的外汇损益 

 
 

  • 未实现的外汇损 

当遇到公司的财政年度结束时,所有与外汇相关的账目都会产生未实现的外汇损益 

 

2用什么外汇率来做标准 

i国家银行发布的汇率 

 

ii马来西亚内陆税收局发布的汇率 

 

iii 付款时银行显示的汇 

当我们在透过银行进行收款或付款时,外币转进马币的银行将自动出现汇率,这时的汇率就是标准,也是账目上的已实现(realised)汇率 

 

3)什么时候产生已实现(realised)与未实现(unrealised)外汇损益 

i已实现的外汇损益 

是在当整个外汇交易从买卖到付款结束时所出现的汇率,这之间的差别就是发票日期与付款日不在同一天发生所导致的 

 

当以外币完成销售订单时 

 

Debit  

Credit  

 

当以外币完成付款出现收益时 

 

Debit  

Credit 已实现的外汇收 

Credit  

 

ii) 未实现的外汇损益 

是每个月/每年在该外币买卖未进行付款时而发生的。我们必须依据政府所提供的汇率来做未付款交易的标准,原因是外汇率有起伏,当初交易的汇率如果拖了几个月后才付款,当中的汇率差额自然就有所更动了 

 

当以外币完成销售订单时 

 

Debit  

Credit  

 

当外币销售未付款以及到了财政年度结束,但出现外汇亏损时 

 

Debit 未实现的外汇损 

Credit  

 

备注:除了以外币买卖的交易需要调整外汇率,其实所有有关外汇的一切账目都需要做出调整,比如外币银行。该外币银行并非实际亏损,而是兑换率出现了马币的差额所产生。 

 
 

4)列 

i01/06/2021,甲公司向外国公司采购了一批一千美金的货物。如果甲公司根据国家银行的汇率来做标准,那汇率将会是4.131。此外,供应商也要求甲公司在发票日期的一星期内支付款项 

 

于是甲公司在04/06/2021以马币银行支付,该汇率是根据银行所转换的汇率为标准,汇率为4.121。由于购买与付款日期不同,因此账目上有了汇率差额  (4.131 - 4.121 = 0.010),该差额将转实现外汇收益 (Gain on Realised Foreign Exchange Account)的账目 

 

01/06/2021 Debit 购买 - RM 4,131.00 USD 1,000.00 X 4.131 

Credit 外国供应商 - RM 4,131.00 USD 1,000.00 X 4.131 

 

04/06/2021 Debit 外国供应商 - RM 4,131.00 USD 1,000.00 X 4.131 

Credit 银行 - RM 4,121.00 USD 1,000.00 X 4.121 

Credit 已实现外汇收益 - RM 10.00 USD 1,000 X 0.010 

 

ii)乙公司拥有一个新币的银行户口并于每年的12月为财政年度结束日期。该户口在31/12/2020还剩下一千新币的余额。在关账时,我们需以马币为基准将此户口里的一千新币呈现在年度报表里。此时账目里的新币汇率为3.2,如果乙公司根据31/12/2020国家银行的新币汇率做为财政年度结束的汇率基准,其汇率为3.0396 

 

由于账目上的汇率与国家银行的汇率之间有了差异 (3.2 - 3.0396 = 0.1604),因此该差额将调整为未实现的外汇亏损(Loss on Unrealised Foreign Exchange Account 

 

31/12/2020 Debit 未实现的外汇亏损 - RM 160.40 SGD 1,000.00 X 0.1604 

Credit 银行 - RM 160.40 SGD 1,000.00 X 0.1604 

 

欲知更多详情可以参考由马来西亚会计标准理事会发布的MASB 6 

 

想了解外汇在税务上的资讯也可以参考 IRB official tax guideline on foreign exchange gain and loss 

 

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#foreignexchange

 


Hiring & Training Incentive 3.0 2021

Hiring & Training Incentive 3.0 2021
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Hiring & Training Incentive 3.0 2021

Do you have new hires in 2021?

Data Science and Business Analytics program with CADS

Your new joiners are now eligible to claim the government-funded Data Science and Business Analytics program with CADS. ​​​This program is funded by the Penjana Kerjaya 3.0 Hiring & Training Incentive.

RM4,000-RM6,000 worth of Data Science training is available for your new hires joining your company after 15 June, 2021.

Anyone joining the company before 15 June, 2021 is no longer eligible for the program.

Application deadline is now extended under the PEMULIH Stimulus Package, act fast and start your applications to claim this special incentive.

Suitable for

  • Business Development, Sales, and Marketing professionals who want to showcase business ROI with engaging and interactive dashboards

  • Business Unit Managers who want to streamline data across departments and develop master dashboards for business process reporting and performance improvement

  • Anyone who wants to advance their career as a data-savvy professional

  • IT professionals and Data Scientists who want to understand how to communicate data and communicate findings and insights to non-technical and non-data-savvy colleagues effectively

  • Analysts or financial professionals that want to upgrade their presentation with actionable insight

Eligibility

  • New hires after 15 June, 2021 with salary minimum RM1,500

  • Fresh graduates aged 18 - 30 years old (never work in any company before, with salary minimum RM1,200)

Source

For more information, kindly refer to our website: https://go.thecads.com/e/567742/penjanakerjaya/ph82w/625929266?h=Qc0HIq2tuXgTYhf67msE-zjupfdS-xDAwD4ji1rjz84.

How to claim?

Below are the following procedures/chronologies to aid on your registration process:

  1. Ensure all the hired employees (after 15th June 2021), are registered under PERKESO ASSIST and contributed to SOCSO. By right in any SOCSO contributed organization, this should be have been completed a week or two after the employee has joined in. https://assist.perkeso.gov.my/ms/employer/login

  2. Proceed to register your company in Myfuturejobs portal and publish the related jobs that your employee has applied/joined for. https://employers.myfuturejobs.gov.my/

    This is to re-enact again the employee hiring process while collecting statistics information in the portal

    Hence, after publishing the job, the employee then needs to apply (re-enactment) the job in myfuturejob portal.

  3. Lastly, proceed to register into Penjana Kerjaya portal. https://penjanakerjaya.perkeso.gov.my/

    This portal will serve to register for both Monetary incentives as well as Training incentives

    Select Option under Hiring Incentives 3.0

    After registering the company details into this platform, you will need to register the job posted in Myfuturejobs into this portal as well.

    All the employees hired under the posted Job need to be assigned and registered. This marks the final steps for Monetary incentives application

    Once the above (point D) have been approved, you will receive an email notification from PERKESO notifying on that.

    Then you may proceed to register and assign you employees to claim the training funds.

    Should you choose CADS as your training provider :

    Under Programme : Select “Professional Training”

    Search for training code HIT8456, this code is referring to our EDP (Enterprise Data Practitioner) program.

Additional Resources

Links below to manual provided by PERKESO :

Myfuturejob registration : https://www.myfuturejobs.gov.my/wp-content/uploads/2020/12/MYFutureJobs-Employer-Manual.pdf

Penjana Kerjaya registration : https://www.perkeso.gov.my/images/penjana/penjanakerjaya/170720%20-%20Manual%20Penjana%2

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

HRDF exemption 2021

HRDF exemption 2021
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HRDF exemption 2021

Exemption to existing registered employer

The exemption of mandatory levy for the month of July and August 2021 under the Pembangunan Sumber Manusia Berhad Act 2001 is automatically granted for registered employers who could not operate during the Movement Control Order (MCO) with reference to Circular No 06/2021.

Employers are required to commence payment of the levy contribution for September 2021 or before 15 October 2021.

Registered employers of Human Resource Development Corporation (HRD Corp) are eligible for this exemption except for those under essential sectors as listed under National Recovery Plan’s (NRP) SOP, Phase 1 dated 9 July 2021.

Exemption to the new registered employer under new scope from March 2021

New registered employers of Human Resource Development Corporation (HRD Corp) under the extended scope from March 2021 are eligible for the exemption until December 2021.

Source :

CIRCULAR NO 6_2021

Exemption of Human Resources Development Levy for the Month of July and August 2021 for Registered Employers under Industries Affected by the Movement Control Order Imposed on 1 June 2021

https://hrdcorp.gov.my/.../6-Employers-Circular-No-6-2021...


𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#HRDFExemption

Step by step to learn how to change the name of company.

Step by step to learn how to change the name of company.
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Step by step to change the name of the company

Change of company name, is it tough?

Introduction

The company is able to change its existing company name to another under section 28 of the Companies Act 2016

Only the existing company secretary may lodge the application to change the company name

Procedure to change the name of the company

a. name search and application of name

  • Conduct a name search on the proposed company name with SSM via mycoid with payment of fee at rm50 per name.

  • Once approved, the proposed name will be reserved for thirty (30) days.

  • further extension is allowed to a maximum of 180 days with an additional payment of a fee

b. submission of application to change company name

  • Submit the documents to ssm (over the counter) with a fee of rm100

    • document 1 - a copy of the application and reservation for the availability of names [section 27(1)(4)]

    • document 2 - a copy of the email from ssm for the approval notification of the reservation of name

    • document 3 - a copy of the application for change of name under section 28 of the companies act 2016

    • document 4 – a copy of directors’ and members’ resolutions

    • document 5 – a photocopy of certification of incorporation/ registration (form 9 or section 17)

c. verification of change of company name

  • A notice of change of name will be issued by ssm upon compliance with the procedures and submission of duly completed documents.

  • Certificate of incorporation on change of name can be purchase from SSM online portal (mycoid) with the prescribed fee.

d. notify on change of company name

The company can furnish the certificate (with certified true copy) to related government authorities bodies (such as land office, mbjb, mbjbt and etc…) and bank for an update on such change.

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers

如何关公司在这次疫情 2️⃣ 股东自愿性清盘

如何关公司在这次疫情 2️⃣ 股东自愿性清盘
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如何关公司在这次疫情 2️⃣ 股东自愿性清盘

除了 ..删除公司 2016 年公司法第 550 条, 我还有其他办法关闭公司.

In Malaysia 有两种常见的方法关闭公司. 这两种方法都很贵,因为您需要聘请清算人 (liquidator).

今天我们来聊一聊 股东自愿性清盘.

𝐇𝐨𝐰 𝐭𝐨 𝐜𝐥𝐨𝐬𝐞 𝐦𝐲 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐞𝐩𝐢𝐝𝐞𝐦𝐢𝐜 𝟐️⃣ - 𝐌𝐞𝐦𝐛𝐞𝐫𝐬 𝐕𝐨𝐥𝐮𝐧𝐭𝐚𝐫𝐲 𝐋𝐢𝐪𝐮𝐢𝐝𝐚𝐭𝐢𝐨𝐧

Besides Article 550 of the Company Act 2016, Do I have other methods to close the company?

Yes! 2 common ways to close a company in Malaysia is available.

Both methods, sadly speaking, are expensive because you need to appoint a liquidator.

Let’s talk about 𝐌𝐞𝐦𝐛𝐞𝐫𝐬 𝐕𝐨𝐥𝐮𝐧𝐭𝐚𝐫𝐲 𝐋𝐢𝐪𝐮𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐭𝐨𝐝𝐚𝐲.

Full story in our blog
Chinese version https://lnkd.in/gVbHeriV

English version https://lnkd.in/gqfPZmNd

Source
删除公司 2016 年公司法第 550 条
Strike off a company under Section 550 the Company Act 2016
https://lnkd.in/gHaSwukK

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#membersvoluntaryliquidation

SST extension of time for submission of return and payment of tax due on 31 July 2021

SST extension of time for submission of return and payment of tax due on 31 July 2021
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SST extension of time for submission of return and payment of tax due on 31 July 2021

Good news for you who are late on SST filing and payment on 31/7/21 as The Royal Malaysian Customs Department (RMCD) has extended SST registered persons from 31 July 2021 to 31 August 201

SST Deadline 31/7/21

Normally, registered manufacturers and registered persons are required to submit their returns (SST-02 forms) and pay SST for the taxable period from 1 May 2021 to 30 June 2021 latest by the statutory deadline of 31 July 2021.

RMCD recently issued a notice dated 11 August 2021 informing that an extension of time until 31 August 2021 will be allowed for those registered manufacturers and registered persons affected by the FMCO to submit their SST-02 forms and make payments of SST.

Grace Period Until 31/8/21

Registered manufacturers and registered persons who are late in the submission of their SST-02 returns and payment of SST due to the FMCO can now apply to the RMCD for remission of these penalties provided that they submit their returns and make payments of SST by the extended deadline of 31 August 2021.

Source RMCD annoucement

https://mysst.customs.gov.my/assets/document/Annoucement/Penghantaran%20dan%20pembayaran%20CJ%20dan%20CP%20bagi%20tempoh%20bercukai%20Mei%20Jun.

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

𝟒 𝐬𝐭𝐞𝐩𝐬 𝐭𝐨 𝐚𝐩𝐩𝐥𝐲 𝐇𝐢𝐫𝐢𝐧𝐠 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯⻏

𝟒 𝐬𝐭𝐞𝐩𝐬 𝐭𝐨 𝐚𝐩𝐩𝐥𝐲 𝐇𝐢𝐫𝐢𝐧𝐠 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯⻏
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𝟒 𝐬𝐭𝐞𝐩𝐬 𝐭𝐨 𝐚𝐩𝐩𝐥𝐲 𝐇𝐢𝐫𝐢𝐧𝐠 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞 𝟑.𝟎

The Hiring Incentive Programme, Penjana Kerjaya, is an economic recovery incentive under the Ministry of Human Resource, administered by SOCSO's National Employment Services to 𝐩𝐫𝐨𝐦𝐨𝐭𝐞 𝐣𝐨𝐛 𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧 𝐚𝐦𝐨𝐧𝐠 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 while increasing employment prospects.

In short, our government will 𝐬𝐮𝐛𝐬𝐢𝐝𝐞 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐰𝐡𝐨 𝐡𝐢𝐫𝐞 𝐧𝐞𝐰 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬 during this pandemic.

Employers can apply for Hiring Incentives 3.0 from 15 July 2021 until 31 December 2021.

How to apply for Penjana Kerjaya 3.0 Hiring Incentive

Step 1: Register Account on 3 platforms

(A) Penjana Kerjaya 3.0

http://penjanakerjaya.perkeso.gov.my

(B) myFUTUREJOBS portal as employer

https://employers.myfuturejobs.gov.my

(C) Perkeso ASSIST portal as employer

https://assist.perkeso.gov.my/ms/employer/login

Step 2: Prepare documents for submission

*SSM / ROC / ROS Business Registration Number verified by Bank

*Perkeso ASSIST Employer Number

*Employee details (Name and IC number)

*Offer Letter for each employee/ Contract of Service

*Employer’s bank account information (copy of the front page of the Bank *Statement with employer’s name, bank account number, and bank’s name)

*Employee Verification Form signed by the employee.

*Certificate / Self-declaration by the employer if the employee belongs to the vulnerable group

Step 3: Post Job Vacancy on myFutureJobs Portal

  • Login and post job on MyFutureJob portal as employer: https://employers.myfuturejobs.gov.my

  • Get your employee to register as job seeker and apply for the job you posted.

Step 4: Submit Application on Penjana Kerjaya 3.0 Website

  • Visit Penjana Kerjaya 3.0 Website and submit the forms and documents accordingly.

  • Website: http://penjanakerjaya.perkeso.gov.my

A final note on Hiring Incentive 3.0

A step-by-step guide for the application process is available from SME Corporation Malaysia

MYFutureJobs - Employer Portal User Guide

https://smemalaysia.org/media/3b.MYFutureJobs-Employer-Manual.pdf

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

What is Perkeso Hiring Incentive in 2021 ?

What is Perkeso Hiring Incentive in 2021 ?
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What is Perkeso Hiring Incentive in 2021 ?

The Hiring Incentive Programme, Penjana Kerjaya, is an economic recovery incentive under the Ministry of Human Resource, administered by SOCSO's National Employment Services to 𝐩𝐫𝐨𝐦𝐨𝐭𝐞 𝐣𝐨𝐛 𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧 𝐚𝐦𝐨𝐧𝐠 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 while increasing employment prospects.

In short, our government will 𝐬𝐮𝐛𝐬𝐢𝐝𝐞 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐰𝐡𝐨 𝐡𝐢𝐫𝐞 𝐧𝐞𝐰 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬 during this pandemic.

Employers can apply for Hiring Incentives 3.0 from 15 July 2021 until 31 December 2021.

Key summaries of Hiring Incentive 3.0

  • Application timeline: 15/7/21 until 31/12/ 21

  • Hiring timeline: 15/6/21 until 31/12/21

  • Key benefits

    • *40-60% salary incentives paid to employers that hire new staffs with 3 or 6 months contract

    • *Claim up to RM7,000 worth of Data Science and Business Analytics Training per employee

  • *other benefits

6 scheme of Hiring Incentive 3.0

The six initiatives are targeted for support for employers in the following areas:

#1 The unemployed and people who lost their jobs

  • Eligibility

    • Recipients of employment insurance system (SIP) benefits;

    • Individuals including graduates who have been unemployed for more than 180 days; and

    • Individuals who have never contributed to PERKESO

  • Incentive rate - 60% of monthly salary to the employer

  • Maximum payment per month - RM6,000

  • Minimum salary - RM1,500 and above

  • Length of service contract - 12 months

#2 The vulnerable groups

  • Eligibility

    • Disabled;

    • Participants under the Return to Work (RTW) programme;

    • Ex-convicts; and

    • Individuals below Malaysia’s poverty line

  • Incentive rate - 60% of monthly salary to the employer

  • Maximum payment per month - RM6,000

  • Training assistance - Until RM7,000

  • Minimum salary - RM1,500 and above

  • Length of service contract - Six months

#3 For Malaysianisation

  • Eligibility

    • Replacement of positions offered to local workers to replace foreign workers

  • Incentive rate

    • 40% of the salary is credited to the employer’s account; and 20% of the salary is paid directly to the employee

  • Maximum payment per month

    • RM4,000 to the employer; RM2,000 to employees

  • Minimum salary- RM1,200 and above

  • Length of service contract - 12 months

#4 For apprenticeships

  • Eligibility

    • School leavers and graduates, aged 18 to 30 years

  • Incentive rate

    • RM1,000; or RM800

  • Maximum payment per month - RM4,800 within six months

  • Minimum salary - Minimum RM1,200 and above

  • Length of service contract -Minimum three to six months

#5 Those under the age of 40

  • Eligibility

    • Aged 16 to 39

  • Incentive rate

    • 40% monthly salary to the employer (subject to a maximum salary of RM10,000)

  • Maximum payment per month - RM4,000

  • Minimum salary - Minimum RM1,500 and above

  • Length of service contract - Minimum 12 months

#6 Those above the age of 40

  • Eligibility

    • Aged 40 and above

  • Incentive rate

    • 60% monthly salary to the employer (subject to a maximum salary of RM10,000)

  • Maximum payment per month - RM6,000

  • Minimum salary - Minimum RM1,500 and above

  • Length of service contract - Minimum 12 months

A final note on Hiring Incentive 3.0

For Employers

* New hires after 15/6/2021 with salary minimum RM1,200

*For contract staffs, the contract period in the offer letter has to be at least 3 months or 6 months

*consult Penjana Kerjaya 2.0 Customer Service team for detailed information and eligibility

Eligibility :

  • Employer* register with SOSCO

  • Employee** contribute to SOSCO

    • * Register with SSM before 1/1/21

    • ** Exclude foreigner

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

 

八月重要的事

八月重要的事
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八月重要的事- 中元节

鬼 節 來 了,沒 差...
現 在 見 人 好 像 見 鬼,
天 天 都 是 鬼 節。

Read the full story in our blog
https://lnkd.in/d3MtGYCj

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#August

如何关公司 - 删除公司 2016 年公司法第 550 条

如何关公司 - 删除公司 2016 年公司法第 550 条
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马来西亚中总:逾六成受访企业不看好马经济今年复苏

马来西亚中华总商会(中总)5日发布马企业对2021年上半年、下半年该国商业经济状况看法的调查报告。报告显示,有六成五受访企业对2021年经济走向复苏缺乏信心。

我们将解释一系列如何在马来西亚关闭公司.

今天我们解释如何在马来西亚取消公司 strike off a company under Section 550 of the Company Act 2016 的条件.

Read the full story in our blog
https://lnkd.in/gpFE8e3M

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
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We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#strikeoffcompany
#closecompany

Exemption on Real Property Gain Tax (RPGT) on disposal of property during 2021

Exemption on Real Property Gain Tax (RPGT) on disposal of property during 2021
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𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

Based on the PENJANA 2020, Malaysian citizens are exempted from Real Property Gain Tax (RPGT) for the disposal of residential property from 01.06.2020 to 31.12.2021.

This exemption has been gazetted under the Real Property Gain Tax (Exemption) 2020 [P.U.(A) 218], on 28.07.2020.

Read the full story in our blog
https://lnkd.in/guuz9iMh

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#RPGT

Tax Refund Malaysia

Tax Refund Malaysia
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Do you know IRBM will pay taxpayers 2% ''compensation'' on your overpayment of tax?

Operational Guideline Updates: Compensation on Late Refund of Overpayment of Tax

– updated on 21 May 2021 by IRB

What is this operational guideline about?

- This guideline is to give clarification on payment of compensation for late refund of overpayment of tax made by IRB.

- Under Section 111D of the Income Tax Act 1967 (ITA).

What are the criteria for compensation?

1. Submit income tax return form (ITRF) before deadline

o Income tax return form must be submitted on-time, complete and correct.

o On time = within the deadline stated below or within the extended deadline approved by IRB.

  • Individual with employment income…Before 30 April

  • Individual with business income….Before 30 June

  • Company/Limited Liability Partnership/Society….Within 7 months from the date following the close of the accounting period of the business

2. Type of tax payment eligible for tax refund

o Only the following type of payment will get tax refund:

a. PCB: Monthly tax deduction

b. CP500: Installment Payment Notice

c. CP204/CP205: Estimated Tax Payable by Companies/Limited Liability Partnership/Society

3. Timelines of calculation of compensation

o The compensation is calculated on a daily basis, starting from the first day after the period stated as below:

  • via E-filling: After 90 days from submission deadline

  • via post/courier: After 120 days from submission deadline

How to calculate?

● Compensation of 2% shall be paid in accordance with the following formula:

● =𝑻𝒂𝒙 𝒓𝒆𝒇𝒖𝒏𝒅 ×𝑻𝒐𝒕𝒂𝒍 𝒏𝒐.𝒐𝒇 𝒅𝒂𝒚𝒔 𝒍𝒂𝒕𝒆 𝟑𝟔𝟓/𝟑𝟔𝟔 𝒅𝒂𝒚𝒔 × 2%

Taxpayers who are not eligible to be paid compensation

1. Tax return submitted after the due date in accordance with the ITA.

2. Tax set off under Section 110 of the ITA is in excess of tax payable.

3. Assessment raised by IRB under Sections 90(3), 91, 91A, 92 and 96A of the ITA.

4. Taxpayer applied for extension of time for submission of tax return.

5. There's an appeal against the assessment.

6. There is additional tax payable from IRB audit during the 90 or 120 days from submission deadline.

7. The excess tax paid are not from instalment payments under Sections 107, 107B and 107C of the ITA.

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

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Can director personally liable to company tax?

Can director personally liable to company tax?
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Can director personally liable to company tax?

FAQ from our clients during this pandemic relates to this topic ''Director's Personal Liability'' under the Income Tax Act 1967 :

1. I don't have money to close company and submit tax return. Can I leave it there until I have enough money?

2. Will IRB go after me as a director of my company if I don't submit tax on my company?

3. I am a nominee director in this company only. Will IRB take action against me?

4. The outstanding tax arises prior to my appointment as director in 2020. Can I argue with IRB?

5. & more.

Stay tune for our upcoming recent tax cases on director's personal liability.

S75A of the Income Tax Act 1967

Any person who is a director of that company during the period in which the debt is liable to be paid by that company shall be jointly and severally liable for such tax or debt.

(a) where any tax is due and payable by a company, any person who is a director of that company during the period in which that tax is liable to be paid by that company or

(b) where any debt is due and payable from an employer under any rules made pursuant to section 107.

Director means any person who

(a) is occupying the position of director including any person who is concerned in the management of the company’s business and

(b) is either on his own or with one or more associates, the owner of, or able directly or or through the medium of other companies or by any other indirect means to control, not less than twenty per cent of the ordinary share capital of the company.

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

 

 

 

Typical tax mistakes : pre-operating expenses before the date of commencement.

Typical tax mistakes : pre-operating expenses before the date of commencement.
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Typical tax mistakes : pre-operating expenses before the date of commencement.

90% of taxpayers assume all expenses incurred before the date of incorporation are tax-deductible….

Sorry, you are dead wrong!

Let's drive in to understand more on tax treatment on pre-operating expenses.

Read the full story in our blog
https://lnkd.in/grKUT2K

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#pre-operatingexpenses
#dateofcommencement

𝐋𝐇𝐃𝐍 𝐊𝐞𝐲 𝐓𝐚𝐱 𝐈𝐬𝐬𝐮𝐞 #𝟏 Taxpayers with tax incentives under the purview of MIDA.

𝐋𝐇𝐃𝐍 𝐊𝐞𝐲 𝐓𝐚𝐱 𝐈𝐬𝐬𝐮𝐞 #𝟏 Taxpayers with tax incentives under the purview of MIDA.
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𝐋𝐇𝐃𝐍 𝐊𝐞𝐲 𝐓𝐚𝐱 𝐈𝐬𝐬𝐮𝐞 #𝟏
Taxpayers with tax incentives under the purview of MIDA.

𝐊𝐓𝐏 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲
LHDN is very aggressive on taxpayers with tax incentives from MIDA recently.

Under the normal procedure, the approved companies are required to comply with certain conditions and implement their approved projects within a specific period, as stipulated in the Approval Letters issued by MIDA.

Many taxpayers fail on meeting the conditions as above. As such, additional taxes and hefty tax penalties become inevitable.

We also highlight the recent initiatives taken by MIDA to relax incentive conditions during the pandemic.

Read the full story in our blog
https://lnkd.in/gU-ghny

𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 :
Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

𝐊𝐓𝐏 (𝐀𝐮𝐝𝐢𝐭,𝐓𝐚𝐱, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.ktp.com.my
Instagram https://bit.ly/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our clients' business.

#KTP
#Thk
#ktplifestyle
#ktpcareers
#MIDA
#taxaudit

Last call on WSP 3.0 which to be closed on 31.7.21

Last call on WSP 3.0 which to be closed on 31.7.21
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Last call on WSP 3.0 which to be closed on 31.7.21

Key summary of T & C for WSP 3.0

1. Sales reduce by at least 30%

2. Employers and employees registered and contributed to Sosco prior to 1/1/21.

3. Register 1/6/21 to 31/7/21.

4. All sectors are eligible.

5. Limited to *Employees 500 *Wages below RM4000

6. Employer register with SSM by 1/1/21.

7. No pay cut. No retrenchment.

8. Register with IRBM.

PS : Employers are required to submit new application on WSP 3.0 in Sosco portal. https://psu.perkeso.gov.my/

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

 

 

 


Latest update on WSP 4.0 (open by 1/8/21)

Latest update on WSP 4.0 (open by 1/8/21)
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Overview of WSP 4.0

Get ready to apply the WSP 4.0 which applicable for all industries! No salary restriction this time according to the FAQ of “Program Subsidi Upah 4.0” (WSP)which issued by PERKESO on 15 July 2021.

Key takeaways of WSP 4.0:

You will understand the update of the WSP 4.0 as follows:--

1. Who can apply for WSP 4.0?

2. When to apply?

3. How much for the subsidy?

4. Subsidy for how many months?

5. Do I need to submit the application for WSP4.0 if I have applied before for WSP2.0 or WSP3.0?

6. What type of documents are needed for new application?

Summary of learning

1. Who can apply for WSP 4.0?

- Employer and employees who have registered or contributed to Socso before 1Jun 2021.

- Employer should have registered with the Companies Commission of Malaysia (SSM) or the relevant local authority before 1 Jun 2021.

- Company’s revenue which reduced by 30% or more of total monthly revenue in 2021 compared to any month in 2019/2020/2021 prior to the outbreak of the COVID-19 outbreak.

2. When to apply?

- Effective from 1 August 2021 until 31 October 2021.

3. How much for the subsidy?

- RM600 per employee per month and up to 500 employees only.

Remark: The monthly salary restriction of not more than RM4,000 has been removed under WSP4.0.

4. Subsidy for how many months?

- 2 months for all industries; and

- additional 2 months for sectors on the negative list such as Pub, Spa and beauty salon.

5. Do I need to submit the application for WSP4.0 if I have applied before for WSP2.0 or WSP3.0?

- Yes, employer has to submit new application through Perkeso website https://psu.perkeso.gov.my/.

6. What type of documents are needed for new application?

- Employee listing (follow the standard format in PERKESO website);

- Employer’s bank account information (copy of first page of the bank statement);

- Letter of Business Registration Number (BRN) (normally used to open the company bank account);

- SSM/ROS/ROB/relevant local authority registration certificate;

- Declaration form of WSP4.0

Sources of WSP 4.0

FAQ for WSP 4.0 on 15 July 2021

https://www.perkeso.gov.my/images/pemulih/psu4/150721_-Soalan%20Lazim%20Program%20Subsidi%20Upah%20PSU4.0%20v4.pdf?fbclid=IwAR2EzmvfMtWr2r4kjq6UM3SgYBTaGc1TpTxd_7jUIVnzgd4TleQZSQmm3Wo

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

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KTP (Audit, Tax, Advisory)

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tax update on SPC to close off your company

tax update on SPC to close off your company
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[TAX UPDATE on SPC]

Must know for closing Company

On 03 June 2021, LHDN has issued an Operational Guidelines GPO3/2021 on updates of “Surat Penyelesaian Cukai”(SPC) to replace GPO2/2019.

What is SPC?

SPC is a tax clearance letter to notify taxpayer that there is no outstanding tax payable.

This letter must be obtained before closing your Company’s tax file at LHDN.

THREE (3) updates on GPO 3/2021:-

1. there is a new format for SPC application form.

2. before LHDN issue SPC tax clearance letter, tax audit case must be closed and completed.

3. SPC will be released within 14 working days after all documents have been furnished and no outstanding issue with LHDN.

WHAT IS THE REQUIREMENT FOR ISSUING SPC?

v Complete application forms and documents

v Submitted latest Form C & Form E

v No audit disputes

v No tax arrears

v No outstanding on employee's PCB

v No pending law actions on criminal/civil case

Source:

GPHDN 3/2021 - Permohonan Surat Penyelesaian Cukai Bagi Syarikat, Perkongsian Liabiliti Terhad Dan Entiti Labuan

http://phl.hasil.gov.my/pdf/pdfam/GPO_3_2021.pdf

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  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

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𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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Partnership Agreement in Tax

Partnership Agreement in Tax
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What is the main purpose of partnership agreement in your tax ?

Story of tax case

- The taxpayer operated 2 petrol stations which were registered as a sole proprietorship.

- However, the business carried out by way of partnership with his 2 children:

i. taxpayer declared 50% share of profits

ii. his children declared the remaining profits

Tax issue

- DGIR had rejected the claim of partnership because no evidence of partnership had been furnished during an audit.

- Additional assessment was raised on the taxpayer as a sole proprietor and the assessments on his two children were accordingly reduced.

Taxpayer’s argument

- During the hearing, Partnership Agreement was provided by taxpayer to claim as evidence of partnership.

- Therefore, the income derived from the business was assessable as a partnership.

DGIR’s argument

- Taxpayer failed to prove any participation in the capital or other significant contribution by partners

- DGIR has no basis to raise the assessment on a partnership because the return form for partnership (Form P) was not filed.

Therefore, the income from the business was correctly assessed as a sole proprietor.

High court

The High Court allowed the DGIR’s appeal and confirmed the additional assessments raised by the DGIR.

Why a partnership agreement is important?

The partnership agreement includes the details terms of the partnership and outlines important information between the partners.

For example:

1. Capital contribution

2. Profit distribution

3. Rights and duties of the partners

4. Conduct and management of the firm

What if there is no partnership agreement?

If there is no partnership agreement, the partnership rules will follow the Section 26 of Partnership Act 1961.

It included, but not limited to the followings:

1. Partner will share the profits and losses in the business equally.

2. No interest on the capital if no profit

3. 8% interest will be charged on loan from partner (other than capital contribution).

4. Partners are not allowed to draw a salary

Visit us

  • Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

  • Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

 

 

 


 

THK Management Advisory Sdn Bhd

Wisma THK, No. 41, 41-01, 41-02, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru, Johor, Malaysia.
+6012-771 7903
+607-361 3443
 
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