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Section 113B of Income Tax Act 1967
13/01/2021
There is a new section being added to Income Tax Act 1967 especially on “Failure to Furnish Comtemporaneous Transfer Pricing Documentation”
Consequences for Not preparing TP Documentation
13/01/2021
The Finance Act 2020 was gazette just before the new year (31 December 2020), with effective date of 1 January 2021. 😅
There are two very important power tax authority now has. They make transfer pricing so important effective from 1 January 2021.
Why Read Transfer Pricing Audit Framework 2019?
13/01/2021
Knowing how IRB will conduct their Transfer Pricing is important. It is like a student sitting for the exam, this audit framework is akin to the exam syllabus 😁. Knowing the syllabus you will be well prepared and ready when the audit letter arrived. 😇
Renovation and Refurbishment
04/01/2021
“Renovation & Refurnishment is one of the most exciting tax deduction available in 2020/2021. We are looking at RM 300,000. That’s a big sum to claim 🥰. No more guessing required. the gazette order has been published [PU(A) 381/2020] just before the new year. There is some bad news to this.
Transfer Pricing Documentation Starts Jan 2021
04/01/2021
Compulsory Transfer Pricing Documentation 🥵? 2021 is finally here, this new rule starts 1 Jan 2021. Transfer Pricing documentation is not new in Malaysia. But “Compulsory” is a new addition. What is so significant about this? Well in your tax return for, IRB wants you to tick whether you prepare the documentation or not.
Penjana’s Relocation Incentives
05/10/2020
Remember when PENJANA was launched on 5 June 2020, there is a special tax incentive to encourage investors in the manufacturing sector to relocate their manufacturing facilities to Malaysia?
MIDA has issued a guideline on the special tax incentive under PENJANA.
Keeping records ? Here’s how to do it right now
30/07/2020
You probably heard that you should keep a tax return for at least seven years after filing it. I always have the big question is 7 years from when? Here’s the answer I uncovered.
Going to Buy or Sell Property? Here’s a Quick Look into the Latest Rules
30/07/2020
With the current economic condition, property owners are eager to sell their property before moratorium ends. Are you ? Despite Penjana provides the exemptions, lawyers advice to halt the S&P
Penjana Economy
05/06/2020
Download On the verge of entering the 4th phase, Recovery, we remain focused on completing the nation’s current journey from Restart to Recovery by rolling out a set of strategic initiatives to