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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](https://cdn1.npcdn.net/image/1628134112651653f32e75f782e51b2a12afd6fa66.png?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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
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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
#RPGT
Tax Refund Malaysia
![Tax Refund Malaysia](https://cdn1.npcdn.net/image/162805865232b12d95ab7c006d6b111ef9c42c17d7.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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.
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Individual with employment income…Before 30 April
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Individual with business income….Before 30 June
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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:
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via E-filling: After 90 days from submission deadline
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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
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Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
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Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
KTP (Audit, Tax, Advisory)
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Website www.ktp.com.my
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Instagram https://bit.ly/3jZuZuI
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Linkedin https://bit.ly/3sapf4l
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Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
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Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
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Instagram https://bit.ly/3u2PxHg
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Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
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Website www.thks.com.my
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Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
Can director personally liable to company tax?
![Can director personally liable to company tax?](https://cdn1.npcdn.net/image/1627960832237cd4b89a211559989bc1530ae3e196.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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
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Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
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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
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Linkedin https://bit.ly/3sapf4l
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Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
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Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#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.](https://cdn1.npcdn.net/image/1627877936f0254e679a4b519908bc8b46ecdb0978.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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.](https://cdn1.npcdn.net/image/16276245755ad9f79deeb2888e54ce3e3c1dd7fb16.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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](https://cdn1.npcdn.net/image/1627536146766eb0d18a40c25060ed2a8d1ef247f0.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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
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Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
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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
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Linkedin https://bit.ly/3sapf4l
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Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
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Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#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)](https://cdn1.npcdn.net/image/1627531866e5a4a48b820786c0f2983088e15882e6.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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)
-
Website www.ktp.com.my
-
Instagram https://bit.ly/3jZuZuI
-
Linkedin https://bit.ly/3sapf4l
-
Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
-
Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
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
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
-
Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
tax update on SPC to close off your company
![tax update on SPC to close off your company](https://cdn1.npcdn.net/image/162746870117b39ed7865edd6a3abe48b7c03702f3.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
[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
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
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
-
Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
Partnership Agreement in Tax
![Partnership Agreement in Tax](https://cdn1.npcdn.net/image/1627353000f8152ba4cd3fd8d311e977c5690ef1ef.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
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)
-
Website www.ktp.com.my
-
Instagram https://bit.ly/3jZuZuI
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Linkedin https://bit.ly/3sapf4l
-
Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
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Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
100% tax deduction on your donation in Malaysia.
![100% tax deduction on your donation in Malaysia.](https://cdn1.npcdn.net/image/16272778521a6ef50158b79f67207a9ee7fe2b2eb3.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
3 simple ways for 100% tax deduction on your donation in Malaysia.
一方有难,八方支援,
最近,看到很多慷慨人士都乐于捐款,雪中送炭。
如果捐款又能扣税,岂不美哉。
Recently, many peoples are actively making donations and great contributions to society.
But, can we enjoy a tax deduction for this donation?
我要怎么知道捐款是否可以拿来扣税呢?我要上哪里看?可以到以下LHDN 官网输入机构名字查询。
May refer to the link below to check whether your donation is tax-deductible.
http://www.hasil.gov.my/bt_goindex.php?bt_kump=2&bt_skum=6&bt_posi=1&bt_unit=8&bt_sequ=1
捐款收据必须包括以下资料才符合扣税资格:
The official receipt must include the following information in order for tax deduction:
1 机构名字和地址 Name and address of institution
2 收据编号Printed serial number
3 日期 Date
4 捐款人姓名,IC/Passport ,公司注冊號 Donor’s name, IC/Passport, business registration number
5 捐款数额Amount of donation
6 收款人职位Collector’s designation
7 收据上注释Stated with following note: (See the attachment as above)
但扣税额度是有限制的:
Do you know the donation to the organization are tax deductible when donate to approved organization under subsection 44 (6) of Income Tax Act 1967?
However, there is restriction on allowable deduction for different level:
个人所得税 Personal tax
From YA 2020, restriction on allowable deduction increased from 7% to 10% of aggregate income
公司所得税 Company tax
Restriction on allowable deduction 10% of aggregate income
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
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
新加坡人Slang 我们 beh tahan
![新加坡人Slang 我们 beh tahan](https://cdn1.npcdn.net/image/16270225068a7a2cb3bd850477d853b82f3a18c080.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
新加坡人Slang 我们 beh tahan
''你们联邦人....'' 是我们 auditor 平常最容易听到的 新加坡 slang.
我们收集了一些最常用的新加坡 slang + 如何使用它们.你中了多少条 新加坡 slang?
也许只有南马的做会计才看得懂, 听得懂!
''You federal people..'' Don't assume this is one of the lines from the Hunger Game movie.
Sadly it is not.
This is what we Malaysian must learn and understand the Singapore slang.
We've gathered some of the most commonly used Singlish words and phrases (collectively termed as slang), followed by how to use them...
-
Wah lau! So expensive!
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You siao ah!
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Can you talk to your government?
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Chop!
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I kena super high tax.
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Don’t be so kiasu lah!
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You are sotong blur.
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Shiok ! If you give me more discount.
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So sian ! With this news.
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Your fee so atas.
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I pokkai if I pay this fee.
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Damn suay if I see you again next year.
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You think we are yaya papaya company.
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Jio me next time if gomen give goodies.
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Whatever you say is right lor.
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Your government damn guai lan.
-
What time already?
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Pai she ! cannot come into Malaysia.
-
Kao pei kao bu lah. Your staff always want this want that.
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Your chio bu staff not good.
-
Eee-yer ! Your fee beh siang lar.
-
Jialat lah if you don’t help me.
-
Steady lah.
-
Liddat win liao lor.
-
Simi is this?
-
Your office is so ulu.
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
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
IRBM Newsletter July 2021
![IRBM Newsletter July 2021](https://cdn1.npcdn.net/image/1627008897d83cd6e52287ca26ce332f8bea79bedb.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
IRBM Newsletter July 2021
Beware taxpayers!
Look like the tax authority will focus on the following tax issues in July IRB official newsletter
1. Digital business
2. Tax clearance letter (TCL)
Digital business
Digital business refers to economic activities that use digital technology. Any business transaction conducted through digital technology is considered as a digital business, even if the payment and delivery related to the transaction is physically conducted.
Individuals or companies that engage in digital businesses in Malaysia are subject to the Income Tax Act 1967. Examples of the digital business sectors are:
a) Retail: dropship, agents, stockists and others
b) Healthcare: sale of healthcare products
c) Advertising: Bloggers, Instafamous, Youtubers, Live Streamers
Tax clearance letter (TCL)
Tax Clearance Letter (TCL) is a certificate issued by the IRBM to employers related to the income tax of employees, who are about to cease an employment / retire / want to leave Malaysia or employees who have died. For individuals who receive income other than employment, the heir or appointed executor is responsible for making a tax settlement in the event of the taxpayer's death.
The employer must inform the IRBM not less than 30 days before the date of termination / retirement / the employee is expected to leave Malaysia, or not later than 30 days after being notified of the employee's death.
The employer also must withhold any part of the money that will or can be paid to the employee until receiving the TCL from the IRBM.
The application for tax clearance can be made via:
a) e-SPC via the MyTax link (by employers only)
b) Manual submission to the IRBM branch that handles the relevant
individual tax file, using the following application forms:
i) CP22A: For private employees
ii) CP22B: For civil servants
iii) CP21: Employees who will leave Malaysia
Feel free to read our past sharing on tax clearance letter :
a) e-SPC via the MyTax link (by employers only)
What is the MyTax app? 你知道什么是“MyTax”吗?
https://www.facebook.com/512614135447552/posts/5116826965026223/
b) 8 out 10 HR don’t do this for IRB (According to our experience)
https://www.facebook.com/512614135447552/posts/4846405612068361/
c) Employer Tax Obligation under Income Tax Act - Resignation & New Employee
https://www.facebook.com/512614135447552/posts/4934567523252169/
Source :
IRB July newsletter
http://phl.hasil.gov.my/.../e_Newsletter_Hasil_Edition_7...
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
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
FAQ on EPF - Payment subject to EPF
![FAQ on EPF - Payment subject to EPF](https://cdn1.npcdn.net/image/1626834992fc8930ef79decdccb2faa2299c60b913.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
FAQ on EPF - Payment subject to EPF
Commonly asked questions on EPF :
1. Can employer not paying EPF Malaysia?
2. What payment is not liable for EPF contribution?
3. How to avoid paying EPF?
Or we ask you the following questions :
-
Did your boss underpay on your EPF contribution?
-
Did you pakat with your boss to reduce EPF contribution?
Any agreement to do so is illegal according to the law. Imprisonment term not exceeding 3 years or to a fine not exceeding RM10,000 or both.
Payment subject to EPF
-
Salary
-
Payment for unutilized annual and medical leave
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Bonus
-
Allowance
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Commission
-
Wages for half day leave
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Incentives
-
Arrears of wages
-
Wages for maternity leave
-
Wages for study leave
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Other payments under services contract or otherwise
Payments no subject to EPF
× Service charge
× Gratuity
× Overtime payment
× Retirement benefit
× Retrenchment, temporary layoff or termination benefits
× Any travelling allowance or the value to any travel concession
× Any other remuneration or payment as may be exempted by the minister
Source from KWSP:
https://www.kwsp.gov.my/member/contribution/mandatory-contribution#WhatIsDeducted
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
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
SME Corp MeetMe
![SME Corp MeetMe](https://cdn1.npcdn.net/image/1626678755a55cb1389fa6c48663282b79ad4aae4a.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
![2️⃣](https://static.xx.fbcdn.net/images/emoji.php/v9/tb2/1.5/16/32_20e3.png)
![0️⃣](https://static.xx.fbcdn.net/images/emoji.php/v9/t74/1.5/16/30_20e3.png)
6% SST on directors' salary?
![6% SST on directors' salary?](https://cdn1.npcdn.net/image/16266716921ba0148e4e9c9619d8897bdd8c2da6eb.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
![2️⃣](https://static.xx.fbcdn.net/images/emoji.php/v9/tb2/1.5/16/32_20e3.png)
![0️⃣](https://static.xx.fbcdn.net/images/emoji.php/v9/t74/1.5/16/30_20e3.png)
做账人最痛苦的事情是什么?
![做账人最痛苦的事情是什么?](https://cdn1.npcdn.net/image/162649174179c759f428a11857136d82fe8207d353.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
做账的痛苦
![做账的痛苦](https://cdn1.npcdn.net/image/162641269385864a918ff251c2f9aa4691bd0e6cba.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
GKP 4.0 微企援助金
![GKP 4.0 微企援助金](https://cdn1.npcdn.net/image/1626328438063bc46ad213019f35e01cf2303437cf.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
GKP4.0微企援助金申请资格 (必须同时符合以下所有条件)
1.马来西亚公民
2.年营业额不超过RM300.000
3.员工人数不超过4个人
4.在2021年6月30日之前已向地方政府/SSM/所得税局注册
5.申请时生意状态仍然是活跃
GKP4.0 微企援助金 - 申请只能在线上申请 gkp.hasilgov.my
GKP4.0 微企援助金开放申请7月15日至7月31日. 9月 RM500 10月 RM500.
GKP1.0,GKP2.0,GKP3.0 将自动获得,无需再申请.
Visit us
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Wisma 𝐊𝐓𝐏, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
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Wisma 𝐓𝐇𝐊, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
KTP (Audit, Tax, Advisory)
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Website www.ktp.com.my
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Instagram https://bit.ly/3jZuZuI
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Linkedin https://bit.ly/3sapf4l
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Telegram http://bit.ly/3ptmlpn
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)
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Tiktok http://bit.ly/3u9LR6Q
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Youtube http://bit.ly/3ppmjyE
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Facebook http://bit.ly/3ateoMz
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Instagram https://bit.ly/3jZpKLo
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )
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Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
What You Need to Know About the Tax Incentive on Assets During This Pandemic?
![What You Need to Know About the Tax Incentive on Assets During This Pandemic?](https://cdn1.npcdn.net/image/16263185787aa51262f120204b58a17814637091e2.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
What You Need to Know About the Tax Incentive on Assets During This Pandemic?
Overview
On 09.06.2021, The Minister issue a gazette order Income Tax (Accelerated Capital Allowance) (Machinery and Equipment Including Information and Communication Technology Equipment) Rules 2021 that allows higher Capital Allowance (“CA”) rate.
Key takeaway
You will understand the:
· Accelerated Capital Allowance (ACA)
· Information and communication technology equipment (“ICT Equipment”)
· Rate of claiming ACA
· Effect for year of assessment
What is Accelerated Capital Allowance (ACA)?
The Accelerated Capital Allowance (ACA) is a tax incentive scheme that allowed taxpayer to claim a higher rate in the purchase of information and communication technology equipment (“ICT Equipment”).
What is information and communication technology equipment (“ICT Equipment”)?
ICT Equipment means information and communication technology equipment as specified in the following:
ü Access control system;
ü Banking systems;
ü Barcode equipment;
ü Bursters / decollators;
ü Cables and connectors;
ü Computer Assisted Design (CAD);
ü Computer Assisted Manufacturing (CAM);
ü Computer Assisted Engineering (CAE);
ü Card readers;
ü Computers and components;
ü Central Processing Units (CPU);
ü Storages;
ü Screens;
ü Printers;
ü Scanners / readers;
ü Accessories; and
ü Communication and networks
Accelerated Capital Allowance allowed taxpayer to claim the ICT Equipment as follow:
a. Initial allowance: 20% of the QE incurred
b. Annual allowance: 40% of the QE incurred (Normal CA rate is at range of 10% to 20%)
* Qualifying expenditure (“QE”) means amount incurred on purchase of plant or machinery used for the purpose of a business with an expected useful life of more than two (2) years that can claim capital allowance.
Effect for the year of assessment:
These rules are effective from the year of assessment 2020 with incurred the qualifying expenditure from 1 March 2020 until 31 December 2021.
Source:
Income Tax (Accelerated Capital Allowance) (Machinery and Equipment including Information and Communication Technology Equipment) Rules 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
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers
为什么我要读书?
![为什么我要读书?](https://cdn1.npcdn.net/image/1626227749e5ffc62ab5aa0a1ada4469464a1c74bd.jpg?md5id=956f9d4b926a8af07bf32de21edd8eee&new_width=1190&new_height=1000&w=-62170009200)
很多很多新人, 尤其在外面做过工, 都顶不顺这个读书文化. 他们都会问 ''为什么我要读书''?
所有KTP THK 新人都要在3个礼拜内读完三本书, 要不然他就不会被录取. 结果他们觉得压力很大....不干了!
这就是我们会计楼的公司文化.
这三本书都是很简单的书 :
1. Who Moved my Cheese
2. Fish!
3. Seven Spiritual Law for Success.
你会问以前读的书都忘记了?
你会问以前学过的知识到底可不可以用上?
你会问读书的意义究竟是什么?
这样说吧我们无法记得起我们吃过什么东西, 不过我们吃的东西都长了我们的骨头和肉.
读书其实也是这样哪怕你学过的知识忘记了,但是在长久的学习过程中所养成的逻辑思维和知识碎片.
这就是成长的过程.
读书可能在短的时间内不可以带给我们什么利益, 但是他会慢慢融入我们的思维行为.
所以读书很重要.
Visit us
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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)
-
Website www.ktp.com.my
-
Instagram https://bit.ly/3jZuZuI
-
Linkedin https://bit.ly/3sapf4l
-
Telegram http://bit.ly/3ptmlpn
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 community for interns, graduates & experienced candidates )
-
Instagram https://bit.ly/3u2PxHg
-
Facebook http://bit.ly/3rPxz9o
𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)
-
Website www.thks.com.my
-
Facebook http://bit.ly/3duvQ5z
We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.
#KTP lifestyle
#KTPcareers