(Tax Update) Form E 2024 Guidelines What is CP8D? Form E (also known as Borang E or CP8D ) is a form that allows the employer to all staff particulars to LHDN, this form will have to be submitted to LHDN via the e-Filing method on a yearly basis. Appointment as Director or Employer or Representative Effective from Year 2023, Form E and Statement e-C.P.8D are mandatory to submit through e-Filing. To submit Form E, statement e-C.P.8D and e-CP22 through e-filing is only allowed for the individual who is Employer or Employer Representative only. The role of Employer or Employer Representative can be added in MyTax for individuals who have a digital certificate. 1. Director (Private Sector , Private Sector other than Company) This role needs to submit through MyTax include a supporting document 2. Deputy director (Private Sector, Private Sector other than Company) • Individuals who have role as Director can appoint any individual under the same organization to be appointed as Director representative. • No need any supporting document • Approvals are automatic • Director can terminate the director representative at any time 3. Employer (Private Sector + Private Sector other than Company) • This role will be given automatically if the application of Director have been approved 4. Employer (Sole Proprietorship , Government Sector, Statutory Body, Local authority) • This role application can submit through MyTax include a supporting document 5. Employer Representative (All category of employer) • Individuals who have role as employer can appoint any individual under the same organization to be appointed as employer representative. • No need any supporting document • Approvals are automatic • Employer can terminate the employer representative at any time Retirement Ages in CP8D  Retirement date shall be determined by retirement age in Malaysia which is 60 years old. For example, date of birth of an employee is 1st January 1990. The retirement date of the employee is 1st January 2050. For those employees which already reached retirement age, then a contract date shall be determined and declared in CP8D. 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o #Thk #KTP read more

(Tax Update) Logistics Sector Business-to-Business Service Tax Exemption. Key Summary   The Finance Minister announced that taxes for logistics services won’t apply to certain areas to avoid extra taxing at different levels. From March 1, 2024, a 6% tax was planned for these services, but now the government says the following won’t be taxed: Services for goods sent abroad. Services for moving goods from one ship to another at a port. Services for moving goods through a place without staying there. Door-to-door delivery services. Online delivery of food and drinks. Businesses in logistics won’t have to pay this tax when they buy the same services from each other. The government made this change after listening to people’s concerns, including lawmakers, to make sure businesses aren’t paying too much tax when they use different logistics services. Ministry of Finance Announcement   The expanded scope of exemption was announced by Minister of Finance II Datuk Seri Amir Hamzah Azizan in the Parliament on Monday. The 6% service tax on the logistics sector was introduced on March 1. Other exemptions on the newly imposed tax include logistics services for transhipment, goods in transit, door-to-door, e-commerce food deliveries, and direct export products. For newly registered logistics service providers, they will only be imposed the 6% service tax from April onwards, the ministry added. Source :   Ministry of Finance announcement on SST certain exemption for logistic company https://www.mof.gov.my/portal/ms/berita/siaran-media/skop-pengecualian-cukai-perkhidmatan-sektor-logistik-diperluas-bagi-mengurangkan-kesan-cukai-berganda 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o #Thk #KTP   read more

(Acc Update) Understanding MFRS 116 : Accounting on Property, Plant, and Equipment Let’s learn MFRS 116, a key accounting standard for buildings, machinery, and equipment. Uncover the crucial guidelines it establishes and understand their impact on businesses globally. What is MFRS 116? MFRS 116 is a rule from Malaysia on how to account for property, plants, and equipment (PPE), updating the old rule, MFRS 117. It tells companies how to recognize PPE as assets if they think these assets will bring future benefits and if they can accurately figure out the costs. This includes adding up all costs needed to get the asset ready for use. Main Points Explained Recognizing Assets MFRS 116 focuses on correctly identifying PPE assets, making sure they will likely bring future benefits and that their costs can be accurately measured. This helps keep financial reports trustworthy, letting others understand a company's assets clearly. Measuring Costs After an asset is recognized, its cost is calculated by taking the original cost and subtracting any depreciation (value loss over time) and losses in value. All costs directly related to getting or building the asset are included. This careful calculation helps in making smart decisions and keeps financial reports clear. Depreciation Depreciation spreads out the cost of an asset over its useful life. Companies must choose a depreciation method that matches how the asset's benefits are used up over time. This makes sure the asset's value in the books matches its real contribution to the business. Revaluation MFRS 116 lets companies adjust the book value of an asset to its current market value, but it's not required. If companies choose to do this, they need to update the values regularly. This option lets companies show the true value of their assets. Telling Others Companies must share detailed information about their PPE, including values, depreciation methods, and life spans. This openness helps investors and others understand the company's financial health better. Example: Updating Equipment Value Imagine a company with a factory that suddenly becomes more valuable because of new technology. MFRS 116 says the company should update the factory's value in their books to show its true current worth. This shows the rule's focus on keeping financial information up-to-date and reliable. Why It Matters for Businesses Following MFRS 116 is important for companies because it affects their financial reports, taxes, and decisions. By sticking to these rules, companies make their financial statements more believable, clear, and trustworthy. This also helps compare different companies more easily, improving analysis within and across industries. To sum up, MFRS 116 guides businesses in accurately and transparently accounting for their buildings, machines, and equipment. Understanding and applying these rules helps businesses deal with accounting challenges confidently, earning trust from those involved. 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o read more

(Tax Update) Capital Gain Tax: Guidelines on Capital Gains Tax for Unlisted Shares The Inland Revenue Board of Malaysia has issued the Guidelines on Capital Gains Tax for Unlisted Shares dated 1 March 2024 on its website. The CGT Guidelines explain the CGT treatment on the gains or profits from the disposal of: a.   Shares of a company incorporated in Malaysia not listed on the stock exchange; and b.   Shares of a controlled company incorporated outside Malaysia that owns real property situated in Malaysia or shares of another controlled company or both. Key Summaries of the Exemption Order Introduction of CGT under the Income Tax Act 1967 (ITA) effective from January 1, 2024, with implementation starting March 1, 2024. CGT applies to profits from the disposal of capital assets, including unlisted shares of companies incorporated in Malaysia and foreign-controlled companies owning property in Malaysia or shares in other controlled companies. The guideline provides explanations for terms such as ''capital asset,'' ''consideration,'' ''disposal,'' ''stock exchange,'' and ''shares.'' Entities liable for CGT include limited liability partnerships, trusts, cooperatives, including Labuan entities subject to tax under ITA. CGT imposition based on the year of assessment in which the disposal transaction occurs. Methodology for determining the disposal and acquisition dates and values of capital assets. Calculation of profits or gains from the disposal of capital assets and the handling of unabsorbed losses. Transfer of capital assets to stock in trade and disposal of shares in relevant companies as per Section 15C of the ITA. Claiming foreign tax credits, the CGT rate, and reporting requirements. Exemptions and conditions under which CGT may not apply or be calculated differently. Past Blog on CGT Read our past blog on CGT Capital gain tax https://www.ktp.com.my/blog/malaysias-budget-2024-capital-gain-tax-part1/23nov23 Exemption Period on CGT https://www.ktp.com.my/blog/capital-gain-tax-malaysia-2024/04jan24 Real property company under CGT https://www.ktp.com.my/blog/real-property-company-under-capital-gain-tax/10jan24 Capital Gain Tax: Filing Deadline https://www.ktp.com.my/blog/capital-gain-tax-filing-deadline/30jan24 Capital Gain Tax: Unresolved Questions https://www.ktp.com.my/blog/capital-gain-tax-unresolved-questions/23feb24 Capital Gain Tax : Gains From Disposal Of Capital Asset Arising From Outside Malaysia Received in Malaysia https://www.ktp.com.my/blog/capital-gain-tax-exemption-foreign-source-income/05march24 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs read more

(Tax Update) Service Tax Increase To 8% We discuss the service tax rate will increase from 6% to 8% on all taxable services with effect from 1 March 2024, except for F&B, telecommunication services, vehicle parking space services and logistic services. The scope of service tax will also be widened to include karaoke centre services, delivery services, brokerage and underwriting services, logistics services as well as repair and maintanence, effective 1 March 2024. Key Summary Service Tax Rate Increase Starting from 1 March 2024, the service tax rate will go up to 8%. Some services like food, beverages, telecom, parking, and logistics will still be taxed at 6%. Credit card fees will stay at RM25 per card per year. Other services like accommodation, clubs, and professional services will be taxed at 8%. Transition Rules for the Tax Increase Services provided before 1 March 2024, will be taxed at 6%, but services after that date will be taxed at 8%. If a service spans 1 March 2024, part of it will be taxed at 6% and the rest at 8%. Payments made before 1 March 2024, for services after that date will be taxed at 6% if provided within six months, and 8% if provided after six months. Special rules will apply to businesses offering services taxed at different rates. Expansion of Taxable Services New services like karaoke centers, brokerage, and logistics will be taxed. Logistics services involve managing the movement and storage of goods and information efficiently. Some services like food delivery and transshipment won't be taxed. Businesses providing logistics services to other businesses will be exempt from tax. Expansion of Taxable Services - Repair & Maintenance Royal Malaysian Custom Departments released the Service Tax guidance for maintenance or repair services in Malaysia, as of February 26, 2024. Key points include: Introduction of service tax on maintenance or repair services under the Service Tax Act 2018 from September 1, 2018. Mandatory registration for providers exceeding a threshold, with a focus on maintenance or repair services. Details on taxable and exempt services, including specific examples. Clarification on the tax treatment of various maintenance and repair activities. Guidelines for service providers on registration, tax imposition, and compliance requirements.The government has unexpectedly decided to expand the scope of the sales and service tax (SST) to include almost all types of repair and maintenance jobs. Maintenance management services related to residential land or buildings provided by developers, joint management bodies, management corporations, or residential associations are not subject to service tax. 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o read more

(Tax Update) Form E FAQ Form E 常见问题呢 阅读我们过去在 Facebook 上的 E/EA 表格上的分享 : 1) Tax Filing Deadline 2022 Malaysia dated on 10/01/2022 https://bit.ly/3r5k2go 2) E呈报(E Filing)Form E 终极秘籍 dated on 15/03/2021 https://bit.ly/35pjcm9 3) 温馨提示 - Form E 截至日期为31/03/2021 dated on 12/03/2021 https://bit.ly/35wKebq 4) Form EA 有什么? Dated on 22/02/2021 https://bit.ly/3g1LQMg 5) 花红几时需要报进Form EA? Dated on 16/02/2021 https://bit.ly/349JSGZ 6) 公司给员工红包可不可以扣税? Dated on 10/02/2021 https://bit.ly/3KPMI4G 7) Deadline for Form E submission is approaching! dated on 09/02/2021 https://bit.ly/3KMqsZL 是时候呈报𝐅𝐨𝐫𝐦 𝐄了，让我们为您复习一遍！dated on 28/01/2021 各位雇主与员工请注意！！！ https://bit.ly/3u4aSCz 9) 你知不知道 ... IRB不再打印+发E表格(Form E) 给雇主! Dated on 25/01/2021 https://bit.ly/349K4pH 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o read more

(Tax Update) Capital Gain Tax: Unresolved Questions Introduction Effective from 1st January 2024, company, limited liability partnership, trust body, and co-operative society which receives gains or profits from the disposal of capital assets consisting of: share of a company incorporated in Malaysia not listed on the stock exchange; or share of a controlled company incorporated outside Malaysia that owns real property situated in Malaysia or shares of another controlled company or both, are subject to Capital Gains Tax (CGT) under the Income Tax Act 1967. Exemption Period Any disposal for the period of 1st January 2024 to 29th February 2024 is exempted from Capital Gains Tax under The Income Tax (Exemption) (No. 7) Order 2023. The taxpayer is not required to submit a tax return for the disposal of that capital asset within the above period. CGT Filing and Tax Payment Deadline IRBM has published Capital Gains Tax Return Form (CGTRF) Filing Programme on 15 January 2024 with key takeaways is summarised as below : Taxpayers are to submit CGT tax returns and make tax payments within sixty (60) days of the date of disposal. For assessments raised under sections 91, 96A, and subsections 90(3), 101(2) of ITA 1967, the tax / balance of tax shall be paid within 30 days from the date of assessment. Nevertheless, a grace period of 7 days is given. Taxpayers are required to submit tax returns through e-Filing (e-CKM Form). Kindly visit MyTax portal at https://mytax.hasil.gov.my to access e-CKM Form from 1st March 2024. Taxpayers shall have a Tax Identification Number (TIN) and Digital Certificate to access e-CKM. Unresolved Questions On January 15, 2024, the Inland Revenue Board of Malaysia (IRBM) shared the filing process for the Capital Gains Tax Return Form (CGTRF) but didn't provide further guidance. With the new Capital Gains Tax (CGT) beginning on March 1, 2024, the lack of clear instructions has left taxpayers and businesses unsure about how to proceed. The Exemption Order does not change the start date for a lower 2% tax option on unlisted shares bought before 2024. If bought between January and February 2024, future sales are taxed at 10%, not 2%. There might be a ''tax-free'' period due to a technicality, but this wasn't officially announced. Redeemable preference shares' redemption isn't clearly defined as a ''disposal'' for CGT, suggesting future clarification. The term ''real property'' lacks a clear definition for CGT purposes, and it's unclear how the 75% test for foreign company disposals applies over time. Exemptions mentioned previously might be added later. For foreign-sourced gains to be tax-exempt, companies must meet certain economic substance requirements in Malaysia. It's uncertain how losses from domestic and foreign asset disposals are treated for tax purposes, indicating a need for further guidance. Past Blog on CGT Read our past blog on CGT Capital gain tax https://www.ktp.com.my/blog/malaysias-budget-2024-capital-gain-tax-part1/23nov23 Exemption Period on CGT https://www.ktp.com.my/blog/capital-gain-tax-malaysia-2024/04jan24 Real property company under CGT https://www.ktp.com.my/blog/real-property-company-under-capital-gain-tax/10jan24 Capital Gain Tax: Filing Deadline https://www.ktp.com.my/blog/capital-gain-tax-filing-deadline/30jan24 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o read more

(Sec update) Role of Company Secretary Under the AMLD Malaysia What is the Role of the Company Secretary’s play as a reporting institution under the Anti-money Laundering, Anti-terrorism Financing and proceeds of Unlawful Activities Act 2001 (AMLA)? What is Malaysian AMLA regime? Before we determine our role, we should understand the meaning of money laundering. Money laundering is a process of converting cash, funds or property derived from criminal activities to give it a legitimate appearance. It is a process to clean ‘dirty’ money to disguise its criminal origin. How about terrorism financing? It is an act of providing financial support to terrorists or terrorist organisations to enable them to carry out terrorist acts or to benefit any terrorist or terrorist organisation. Like many other countries, Malaysia government is highly concerned about this area, where money laundering, terrorism financing and proliferation financing pose a significant challenge to the financial system and the overall business sector. What is The Role of Company Secretary Under AML Company secretaries are required to comply with Bank Negara Malaysia’s (BNM) Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Designated Non-Financial businesses and professions & non-Bank financial institutions policy documents (BNM Policy Document). Company secretaries are appointed as one of the reporting institutions by Bank Negara Malaysia (BNM), they are playing an important role in this area. They are required to take the necessary steps to prevent Money laundering / Terrorism Financing and have a system to report suspected transactions to the Financial Intelligence and Enforcement Department (FIED). Company secretaries have to carry out the following measures to prevent Money Laundering / Terrorism Financing : Compliance with laws Cooperation with law enforcement agencies Establishing internal Control Risk-based approach Customer Due Diligence A Company Secretary is mandated to conduct CDD on customers when establishing business relations by overseeing transactions. To identify and verify the customer’s identity using reliable, independent source documents, data or information such as identification card. Additionally, it is crucial to verify the authorization of any person acting on behalf of the customer and confirm their identity. The company secretary must ensure the beneficial ownership’s identity by using reliable information to ensure confidence in their identification. AMLA Reporting Entity There are many appointed Reporting Institutions, both in the financial and non-financial sectors. For examples: Financial Intermediaries, Lawyers, Accountants, Registered Estate Agents, and etc. All appointed reporting Institutions to work hand in hand with the Malaysian Government and Bank Negara Malaysia to prevent money laundering and terrorism financing, contributing to Malaysia’s brighter future.   PS : Authored by Hui Ting, our secretary associate in THK, in her personal LinkedIn post 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o #Thk #KTP read more

(Tax Update) Form E 常见错误 回顾我们过去在2021年3月16日为 KTP|THK 客户举办的免费网络研讨会 -Form E 常见错误. 这是一次富有成效的活动，为参与者提供了宝贵的见解和知识. 活动由资深专家 Ms. Caroline Lim 担任主持和发言人，她的专业知识和丰富经验为整个研讨会增添了深度和价值. Ms. Caroline Lim 以其独特的洞察力和精湛的表达能力，深入探讨了 Form E 表格常见的错误和解决方法. 她不仅详细解释了可能导致错误的原因, 还分享了有效的纠正措施和最佳实践, 帮助参与者避免在填写表格时犯下相同的错误. 通过她的专业指导, 参与者们对如何正确地填写Form E表格有了更清晰的理解, 增强了他们的专业能力和信心. 这种开放式的交流氛围使每个人都能从彼此的经验中学习, 并共同探讨解决问题的方法, 进一步丰富了整个研讨会的内容和成果. 总的来说，这次研讨会为KTP|THK客户带来了实质性的帮助和价值. 感谢 Ms. Caroline Lim 及所有参与者的付出和贡献, 期待未来我们能继续举办类似的活动，为客户提供更多优质的服务和支持. 在我们的 YouTube 上观看 15 分钟视频 https://youtu.be/84szaL-0Tok 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) An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory) A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o read more

(Tax Update) What is the new SST rate in Malaysia 1 March 2024?   In this blog, we discuss the service tax rate will increase from 6% to 8% on all taxable services with effect from 1 March 2024, except for F&B, telecommunication services, vehicle parking space services and logistic services. The scope of service tax will also be widened to include karaoke centre services, delivery services, brokerage and underwriting services, as well as logistics services, effective 1 March 2024. Key Summary Service Tax Rate Increase   Starting from 1 March 2024, the service tax rate will go up to 8%. Some services like food, beverages, telecom, parking, and logistics will still be taxed at 6%. Credit card fees will stay at RM25 per card per year. Other services like accommodation, clubs, and professional services will be taxed at 8%. Transition Rules for the Tax Increase:   Services provided before 1 March 2024, will be taxed at 6%, but services after that date will be taxed at 8%. If a service spans 1 March 2024, part of it will be taxed at 6% and the rest at 8%. Payments made before 1 March 2024, for services after that date will be taxed at 6% if provided within six months, and 8% if provided after six months. Special rules will apply to businesses offering services taxed at different rates. Expansion of Taxable Services:   New services like karaoke centers, brokerage, and logistics will be taxed. Logistics services involve managing the movement and storage of goods and information efficiently. Some services like food delivery and transshipment won't be taxed. Businesses providing logistics services to other businesses will be exempt from tax. Overall, these changes could affect how much tax businesses and consumers pay for certain services in Malaysia. 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)   An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients Website www.ktp.com.my Instagram https://bit.ly/3Rko5kN Linkedin https://bit.ly/3sapf4l Telegram http://bit.ly/3ptmlpn THK (Secretarial, Bookkeeping, Payroll, Advisory)   A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients Website www.thks.com.my Facebook https://bit.ly/3nQ98rs KTP Lifestyle   An internal community for our colleagues on work and leisure. Tiktok http://bit.ly/3u9LR6Q Youtube http://bit.ly/3ppmjyE Facebook http://bit.ly/3ateoMz Instagram https://bit.ly/3jZpKLo KTP Career   An external job community on vacancies in Johor Bahru for interns, graduates & experienced candidates. Instagram https://bit.ly/3u2PxHg Facebook http://bit.ly/3rPxz9o #Thk #KTP   read more