Archive for October, 2009
MALAYSIA TAX BUDGET 2010: TOP PERSONAL TAX RATE REDUCED BY 1%
Beginning from year of assessment 2010, under the proposed legislation, the top personal tax rate has reduced by 1% (i.e. from 27% in YA 2009 to 26% effective from YA 2010). This means that, in respect of chargeable income above RM100,000, for every RM1,000 a person earns, he  will be paying RM10 less in taxes.
October 28, 2009
Posted in: Malaysia, Personal Tax 
No Comments
MALAYSIA TAX BUDGET 2010: PERSONAL TAX INCENTIVE FOR BROADBAND EXPENSES
An individual can claim a maximum of RM500 of the monthly Internet broadband bills issued under his name in his tax return.
In the current self-assessment taxation system, he will be required to maintain receipts for such expenses paid for up to seven years in the event of an audit by the Inland Revenue Board.
In the [...]
October 28, 2009
Posted in: Malaysia, Personal Tax No Comments
MALAYSIA TAX BUDGET 2010: ENHANCED TAX INCENTIVES FOR HEALTHCARE COMPANY.
It is proposed that 100% of the value of increase in exports would be exempted from tax in respect of services provided to foreign clients in Malaysia. The value of the increase in exports is taken to mean the difference of the value of the qualifying services exported in the current period and that of [...]
October 28, 2009
Posted in: Corporate Tax, Malaysia No Comments
ACCOUNTING FRAUD UPDATE: MEMS TECHNOLOGY BHD (MEMS)
It is quite shocking to hear that MEMS Technology Bhd, despite being publicly reprimanded and fined heavily for the breach of Listing Rule (see below paragraph) in October 2008 has still not complied with the requirements of the SC. The Securities Commission (SC) has for the second time this year instructed microelectronics maker MEMS Technology Bhd (MEMS) [...]
October 27, 2009
Tags: ACCOUNTING FRAUD IN MALAYSIA Posted in: Malaysia & Asia Pacific No Comments
MALAYSIA TAX BUDGET 2010: TAX INCENTIVE IN RELATION TO THE GREEN BUILDING INDEX (GBI)
Green Building Index was developed by Pertubuhan Akitek Malaysia and the Association of Consulting Engineers Malaysia. It was launched on May 21, 2009
Under the GBI assessment framework:
October 27, 2009
Tags: Malaysia Tax Budget 2010 Posted in: Corporate Tax, Malaysia No Comments
MALAYSIA TAX BUDGET 2010: EXEMPTION FROM STAMP DUTY ON THE PURCHASE OF BUILDING THAT INCORPORATE WITH “GREEN TECHNOLOGYâ€
In the Budget 2010, stamp duty exemption would be available for buyers of buildings and residential properties that have been issued a Green Building Index (GBI) certificate.
Details:
The GBI is a rating index for environmentally-friendly buildings.
The stamp duty exemption would only apply to buildings or residential [...]
October 27, 2009
Posted in: Corporate Tax, Malaysia No Comments
MALAYSIA TAX BUDGET 2010: EXPENSES INCURRED ON THE REGISTRATION OF TRADEMARKS IN MALAYSIA WILL BE ALLOWED AS TAX DEDUCTION FOR PURPOSES OF INCOME TAX COMPUTATION.
The proposed tax deduction on the expenses incurred on the registration of trademarks will only apply to companies which have a paid-up capital in respect of ordinary shares of RM2.5mil and less at the beginning of the taxable period.
Details:
The company should not be related to a company which has a [...]
October 27, 2009
Posted in: Corporate Tax, Malaysia No Comments
