Malaysia Poised To Be Leader In Solar Industry KUALA LUMPUR: The Malaysian Solar PV Roadmap 2030, to be launched by the end of 2017 will pave the way for the further development of the country’s photovoltaic (PV) industry. The effort, which involves key stakeholders from the industry, government departments and academia will be instrumental in…
Alipay now available in Malaysia KUALA LUMPUR: The country’s largest financial service providers – Malayan Banking Bhd (Maybank) and CIMB Bank Berhad, recently partnered with China’s Ant Financial Services Group to enable the Alipay mobile wallet in Malaysia as an alternative cashless payment for Chinese tourists. Operated by Ant Financial, Alipay is an eWallet payment…
Changes implemented by the Companies Act 2016 The Companies Act 2016 came into force in Malaysia on January 31, 2017. However, certain sections have yet to come into operation. These relate to: the company secretary’s registration with the Registrar of Companies; and the corporate rescue mechanisms. Effectively, all companies in Malaysia will now have to…
e-Filing of Form CP204 AND CP204A For the purpose of tax administration, the IRB has confirmed that SMEs are still required to submit the Form CP204 within the stipulated deadline but without any estimate of tax payable. Furthermore, the IRBM has announced that companies are required to furnish Form CP204 and CP204A via e-Filing with…
SRAO 2017 and Changes to Property-Related Legal Fees The Malaysian Bar Council in November 2012 approved the amendments to the Solicitors’ Remuneration Order 2005 (“SRO 2005”) that have been gazetted as the SRAO 2017. The amendments were made to adjust the scale fees upwards for several chargeable items in respect of professional fees for the…
Malaysia records 4.5% economic growth KUALA LUMPUR: Driven by private sector spending and the manufacturing and services sector, Malaysia’s economy grew 4.5% in the fourth quarter of 2016 – exceeding economists’ survey of 4.4%. The nation’s central bank, Bank Negara Malaysia (BNM) said this was the strongest expansion compared to a 4.3% growth in the…
Bright Outlook for Malaysian Rubber Industry KUALA LUMPUR: Once a major source of income for the country, the production of rubber was reportedly declining and some investors even labeled it as a sunset industry. However, the recovery in the global economy and the shortage of natural rubber have since enhanced prospects for the industry this…
Tax Filing Programmes for Income Tax Return in the Year 2016 The Inland Revenue Board has issued a filing programme for Income Tax Return Forms in the year 2016. Here’s some quick information for tax payers. What’s my deadline for filing taxes? Which form do I fill? 30 April 2017 for individuals without business…
Update on GST and commercial property in Malaysia Do you know that you need to register for GST when investing in commercial property? It is a crucial step in your investment roadmap. However, some investors might forget to include GST into their budget and this is a big mistake- because the figures involved can be…
Amendments To Form E, CP8D, EA & EC in Respect of Remuneration for The Year 2016 The IRB has recently updated the following: Filing program for 2017 tax returns 2016 version of Forms EA, EC and CP 8D (employer related) With regards to the amendments of Form C.P.8D and Form EA / EC, the improvements…
