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Transfer pricing penalty from LHDN

Transfer pricing penalty from LHDN
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Transfer pricing penalty from LHDN

Budget 2021 was announced on 06.11.20, Inland Revenue Board of Malaysia (IRBM) has proposed a new Section 140A(3A) to penalize incompliance of Transfer pricing (TP) rule.

As we can see, transfer pricing has becoming increasingly important and practically all tax payers that have related party transactions need to pay attention to this penalty.

In simple terms, taxpayer who has entered into controlled transactions with “associated persons” is required to prepare transfer pricing documentation.

Key takeaways:

You will understand: -

1. Who is “Associated person”

2. Penalties for non-compliance

Summary of learnings:

A) Associated persons:

i) person one of whom has control over the other. For examples: companies are having a common director or shareholder.

ii) individuals who are relatives of each other. For examples such as parent, a child, brother, sister, uncle, aunt, nephew, niece, cousin, an ancestor or a lineal descendant.

iii) persons both of whom are controlled by some other person. For examples:

(a) Holding and subsidiary company

(b) associated company (who having same holding company)

B) Penalties for non-compliance:

IRB will issue a letter (request for documents and information) to the taxpayer. The taxpayer is required to reply to the letter within 14 days and submit TP documentations within 30 days.

i) Failure to prepare TP documentations or TP documentations not prepared according to TP guideline: -

30% to 50% penalties on additional tax payables

With effective of 1/1/2021,

ii) Taxpayers that fail to submit TP documentation within 30 days upon request can be fined between RM20,000 and RM100,000 and/or to imprisonment for a term not exceeding six months

iii) A ‘Surcharge’ up to 5% of the total TP adjustments might be imposed. (This is to imposed penalty on company not paying taxes after the TP adjustments)

Sources:

- Transfer Pricing Rules 2012:

http://www.hasil.gov.my/bt_goindex.php?bt_kump=5&bt_skum=20&bt_posi=1&bt_unit=1&bt_sequ=3&bt_lgv=2

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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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

3 wishlist for transfer pricing documentation (TPD) on SME for the Budget 2022.

3 wishlist for transfer pricing documentation (TPD) on SME for the Budget 2022.
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3 wishlist for transfer pricing documentation (TPD) on SME for the Budget 2022.

SME is required to prove group and related party transactions to be arm length under Section 140A of The Income Tax Act 1967 (ITA).

Problems to SME for TBD compliance

  • How many SME understand arm length?

  • How many SME afford the fee for transfer pricing documentation?

  • How many SME know benchmarking testing, functional analysis, cost plus method?

Wishlist for SME on TPD

  • Exemption below certain threshold.

  • Safe harbour ruling where 5% mark up on low value added service is acceptable.

  • IRB publish arm length rate/data to SME.

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Covid 19 检验可以扣税吗 ?

Covid 19 检验可以扣税吗 ?
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Covid 19 检验可以扣税吗 ?

 

纳税人尤其是雇主在 2021 年常见的问题：Covid 19 测试产生的费用是否有任何税收减免？

最后，根据 2021 年所得税（与 2019 年冠状病毒病 (COVID-19) 员工检测测试成本相关的费用扣除）规则，一项新裁决将于 2021 年 10 月 11 日发布。

关键摘要

特别扣税

 

雇主检测 covid 19 费用能双重扣税 (扣税 x 2) on 其员工在 2021 年 1 月 1 日 至 2021 年 12 月 31 日期间

条件

 

扣税应当出示执业医师的收据和证明.

KTP/THK 关键要点

IRB 可以预测 Covid 19 将在 2021 年消失，因为 IRB 允许扣税到 31/12/21 之前.

无论如何，这是在这期间减轻雇主负担的可喜举措。

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

哪一个要还消费税...支出费用 vs 报销费用

哪一个要还消费税...支出费用 vs 报销费用
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支出费用 vs 报销费用...哪一个要还消费税?

让我们在 3 分钟内解决您的困惑。

定义

  • 支出费用 : 索赔人作为代理人代客户追回费用

  • 报销费用 索赔人作为委托人向客户追回一笔费用.

备注：索赔人是SST注册人，代表客户支付费用。

服务税的处理 - 支出费用

  • 无需缴纳服务税

  • 索赔人是客户的代理人

  • 没有额外的费用和涨价付款

  • 服务提供商应向索赔人的客户开单

  • 客户知道服务提供商是谁以及实际发生的费用.

  • 服务提供商的账单和索赔人的账单是一起发给客户的

服务税的处理 - 报销费用

  • 需缴纳服务税

  • 索赔人作为客户的委托人

  • 额外费用和加价付款

  • 服务提供者应向索赔人开单

  • 客户不知道服务提供者是谁以 及产生的实际成本

  • 仅向客户签发索赔人的账单

参考：

RMC Guide on Disbursement and Reimbursement

https://mysst.customs.gov.my/assets/document/Specific%20Guides/Disbursement%20and%20Reimbursement.pdf

KTP/THK key takeaways

如果您在阅读 SST 官方指南后仍然感到困惑，请与我们联系。 口译报销和支付的错误可能代价高昂

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

如果我收购亏损公司，税收亏损可以继续吗?

如果我收购亏损公司，税收亏损可以继续吗?
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如果我收购亏损公司，税收亏损可以继续吗?

不要告诉 KTP 为什么我不可以使用税收亏损当我收购一家亏损公司时

税收损失案例研究

请问各位大大，公司是 Sdn Bhd, business nature 要改，公司名也改，shareholder 也改

…….那么以前的生意到最后是 loss 的，loss 到差不多要跟capital的数目一样了。

请问原本的 loss 要怎么做? 因为新的business 会进新的 capital …

我可以 continue 使用 loss ?

根据所得税法未吸收的税收亏损

该法有两项重要的关于利用税损结转的规定。

  1. 股权连续性 2005 年

  2. 延续税收亏损 2019 年

股权连续性 2005 年

自 2005年起，税收亏损的使用须接受股权连续性测试.

只有当 DGIR 认为在未吸收的业务损失和资本津贴须接受股权连续性测试公司50%以上的股东在纳税期最后一天与该损失将被利用的纳税期首日相同.

延续税收亏损 2019 年

从 2019 课税年开始，规定了税收亏损结转至最多连续七 (7) 个纳税年度的时间.

这与 2019 课税年之前存在的无限期时间不同.

2019 课税年度税收亏损只能使用至 2026 课税年度。此类损失将从 2027 课税年度中忽略.

通过过渡条款，因此，在 2018 年之前累计的亏损和在 2018 年出现的亏损只能带下到 2025 年截至 2018 年度之前累积的税收亏损。这些金额可以在连续七 (7) 个课税年度使用.

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

Special Investment Tax Allowance for E&E Industry

Special Investment Tax Allowance for E&E Industry
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Special Investment Tax Allowance for E&E Industry

The Special Investment Tax Allowance for the Electrical & Electronic (E&E) Sector incentive was announced in the National Budget 2020.

The Income Tax (Exemption) (No.10) Order 2021 (“Exemption Order”) has been gazetted and is effective from 1 January 2020.

Key salient features of Special Investment Tax Allowance for E&E Industry

  • Investment Tax Allowance of 50% on qualifying capital expenditure to be offset against 50% of Statutory Income.

  • The exemption period is valid for a period of 5 years starting from the date of the approval letter.

  • This Special Investment Tax Allowance is to encourage companies in the E&E sector that have exhausted the Reinvestment Allowance in Malaysia to further reinvest in Malaysia.

  • Manufacturing company incorporated under the Companies Act, 1965/2016, and residents in Malaysia.

  • Possess valid Business License from the relevant Local Authority.

  • Possess Manufacturing License (ML) from MITI or Confirmation Letter of Exempted from Manufacturing License from MIDA.

  • The applicant company is engaged in manufacturing activities in the

  • E&E sector.

  • The minimum investment in the related proposed projects shall be at least RM1.5 million in capital expenditure within a period of five (5) years.

  • The company to incur the minimum yearly operational expenses (as proposed by the company);

  • The company to hire a minimum number of Malaysian full-time workers (as proposed by company).

  • The applicant company shall at least satisfy one (1) of these

  • following conditions

    1. Vendor Development Program or

    2. Human Capital Development Program

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Employer Tax Audit Framework

Employer Tax Audit Framework
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Employer Tax Audit Framework

Are you ready for ''payroll'' tax from IRB?

IRB has released the Employer Tax Audit Framework recently which outline the duty & responsibility of employers from :

1. Form E

2. Form EA

3. Notification of new employee

4. Notification of resignee

5. MTD/PCB

6. & etc

Key summaries from our last posting relating to the employer duty & responsibility :

1. IRBM Newsletter July 2021 (23.07.21)

https://www.ktp.com.my/blog/irbm-july-newsletter/23july21

2. E呈报 (E Filing) Form E 终极秘籍 (15.03.21)

https://www.ktp.com.my/blog/e-filing-form-e/12march2021

3. Form E 截至日期为31/03/2021 (12.03.21)

https://www.ktp.com.my/blog/form-e/12march2021

4. 什么是 e-PCB ？e-Data PCB ？e-CP39 (3.3.21)

https://www.ktp.com.my/blog/pcb/03march2021

5. Form EA 有什么? (22.2.21)

https://www.ktp.com.my/blog/formea/22feb2021

6. 董事医疗费 免税 实物受益（BIK）??? (19.02.21)

https://www.ktp.com.my/.../medical-fee-control.../19feb2021

7. 1分钟学习“如何在BIK / Perquisites计算PCB” (17.02.21)

https://www.ktp.com.my/blog/pcb-bik-perquisites/17feb2021

8. When to declare bonus into Form EA? 花红几时需要报进Form EA? (16.2.21)

https://www.ktp.com.my/blog/bonus-formea/16feb2021

9. IRB tax audit on employers on CP21, CP22 & CP22A (1.2.21)

https://www.ktp.com.my/.../irb-tax-audit.../01feb2021

10. Employer Tax Obligation under Income Tax Act - Resignation & New Employee dated (12.1.21)

https://www.ktp.com.my/blog/newcp21-cp22-cp22a/12jan2021

11. 8 out 10 HR don’t do this for IRB (According to our experience) (21.12.20)

https://www.ktp.com.my/blog/taxclearance/2020dec21

12. A 3 minutes video (Chinese language) to learn benefits- in-kind and perquisites in PCB. (4.6.20)

https://www.ktp.com.my/.../tax-strategies-covid19...

Key takeaways

  1. Stay updated on the lasted tax ruling and requirement on the employer’s duty and responsibility

  2. Get connected on regular basis with your payroll software vendor on any changes in the regulation.

  3. Regular review of your employment handbook/handbook on any changes in the employer regulation.

Source:

IRB : Rangka Kerja Audit Majikan

http://phl.hasil.gov.my/.../RK_Audit_Majikan_01102021.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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Tax incentive for relocating to Malasia

Tax incentive for relocating to Malasia
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Do you know our government offer 0% tax 10 - 15 years for relocation to Malaysia?  T & C apply.
 
Full story in our blog
https://www.ktp.com.my/blog/tax-incentive-relocation-to-malaysia/12oct21
 
Source : 
MIDA Guidelines 
https://www.mida.gov.my/faq/faq-penjana-accordion/
 
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/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn
 
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲) 
A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting 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 vacancy in Johor Bahru for interns, graduates & experienced candidates.
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o
 
#KTP 
#Thk 
#ktplifestyle 
#ktpcareer 
#relocationtoMalaysia

Incentive for Manufacturers of Pharmaceutical Products

Incentive for Manufacturers of Pharmaceutical Products
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MIDA has issued a Guidelines for Incentive for Manufacturers of Pharmaceutical Products Including Vaccines Under the 2021 Budget on 27/8/2021.

Key summary of tax incentive on pharmaceutical products

1. Income tax rate of 0% to 10% for a period of 10 years

2. Income tax rate of 10% for the subsequent period of 10 years

3. Companies approved for this incentive are required to comply with conditions as specified by the Ministry of Finance

Source :

MIDA Guidelines

https://www.mida.gov.my/wp-content/uploads/2021/09/GD_PHARMA_VACCINE_01092021.pdf

秘️Have questions on MIDA tax incentive? Call KTP.

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

为什么所得税发布 2021 年 10 月 1 日 发布雇主审计框架 (Audit Framework for Employers) ?

为什么所得税发布 2021 年 10 月 1 日 发布雇主审计框架 (Audit Framework for Employers) ?
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为什么所得税发布 2021 年 10 月 1 日 发布雇主审计框架 (Audit Framework for Employers) ?

根据所得税官方声明说 : 该框架概述了审计人员、雇主和税务代理人的权利和责任，旨在确保公平、透明和公平地进行雇主审计。

说白了... 十月围城. 开启捕杀 , 上演杀戮.

从我们过去的博客 (blog) 中总结了 雇主审计框架中的关键 问题：

1. IRBM Newsletter July 2021 (23.07.21)

https://www.ktp.com.my/blog/irbm-july-newsletter/23july21

2. E呈报 (E Filing) Form E 终极秘籍 (15.03.21)

https://www.ktp.com.my/blog/e-filing-form-e/12march2021

3. Form E 截至日期为31/03/2021 (12.03.21)

https://www.ktp.com.my/blog/form-e/12march2021

4. 什么是 e-PCB ？e-Data PCB ？e-CP39 (3.3.21)

https://www.ktp.com.my/blog/pcb/03march2021

5. Form EA 有什么? (22.2.21)

https://www.ktp.com.my/blog/formea/22feb2021

6. 董事医疗费 免税 实物受益（BIK）??? (19.02.21)

https://www.ktp.com.my/blog/medical-fee-control-company/19feb2021

7. 1分钟学习“如何在BIK / Perquisites计算PCB” (17.02.21)

https://www.ktp.com.my/blog/pcb-bik-perquisites/17feb2021

8. When to declare bonus into Form EA? 花红几时需要报进Form EA? (16.2.21)

https://www.ktp.com.my/blog/bonus-formea/16feb2021

9. IRB tax audit on employers on CP21, CP22 & CP22A (1.2.21)

https://www.ktp.com.my/blog/irb-tax-audit-emloyer-cp21-cp22-cp22a/01feb2021

10. Employer Tax Obligation under Income Tax Act - Resignation & New Employee dated (12.1.21)

https://www.ktp.com.my/blog/newcp21-cp22-cp22a/12jan2021

11. 8 out 10 HR don’t do this for IRB (According to our experience) (21.12.20)

https://www.ktp.com.my/blog/taxclearance/2020dec21

12. A 3 minutes video (Chinese language) to learn benefits- in-kind and perquisites in PCB. (4.6.20)

https://www.ktp.com.my/blog/tax-strategies-covid19-cashflowpart2-zx3y6-83gac-rw5mp-5a484-lzjj2-ctyge-6gjxh-wwcf3-lxlgx-jdlzk-gwww-e5737-kbd4c-57h9-82ppk-37yajwsp-gz635-y7xh-kmsgg-jkyr2

Source:

IRB : Rangka Kerja Audit Majikan issue on 1.10.2021

http://phl.hasil.gov.my/pdf/pdfam/RK_Audit_Majikan_01102021.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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Update the changes of address to IRB

Update the changes of address to IRB
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Update the changes of address to IRB

  • Do you know it is taxpayers' duty to inform IRB in writing any change of correspondence address?

  • Do you know taxpayers can not argue non-receipt of any IRB letter due to taxpayers' new address?

  • Do you know taxpayers will kena fine/imprisonment/both for such non-compliance?

How to update the changes of address for tax ?

  1. Submit CP600B Form (Change of Address Application Form) to tax branch office.

  2. Notify the tax branch office (which handling your tax file) by issuing an official letter on changes of address.

  3. Update the details by using e-Kemaskini application via MyTax Portal.

  4. Update the details via Feedback Form at LHDNM website.

Tax offences

Fails (without reasonable excuse) to give notice on changes of address within 3 months. Fine from 200.00 to 20,000.00 / Imprisonment for a term not exceeding 6 months / Both

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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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

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What is the process for judicial review in tax appeal

What is the process for judicial review in tax appeal
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What is the process for judicial review in tax appeal

It is getting popular as taxpayers opt for JR as the first option for tax appeal instead of local remedy via Special Commissioner of Income Tax.

2 Stages of Judicial Review in Tax Appeal

1st stage : leave ex-parte

An application under this Order shall not be made unless leave has been granted.

Taxpayers are to demonstrate that the application is not frivolous or vexatious, leave shall be granted in the past.

Getting leave does not mean taxpayers have won the tax appeal.

It signifies that taxpayers have a prima facie case that qualified the tax appeal to be heard in the High Court at the substantive stages.

LHDN has lately intervened to object at the leave stage as a putative respondent.

2nd stage : Substantive inter parte

Once leave has been granted, the application shall proceed to the substantive stage.

Exception circumstance in judicial review

Taxpayers have to demonstrate “exception circumstance”.

Exception circumstance is defined as

  • Clear lack of jurisdiction

  • Blatant failure to perform statutory duty

  • Serious breach of the principles of natural justice

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

接假税收官电话: 你欠税

接假税收官电话: 你欠税
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接假税收官电话: 你欠税

不相信人能够时刻保持理智，在任何事情上做出最佳选择，否则每个人都能过得还不错.

这个世界上就没有遗憾和后悔这两个词了。

但是我善良呀 很多人会同意这个说法没有理由我会被骗.

Am I right ? But....

人性如魔方，非常复杂，不同环境下，不同经历下，同一个人会有不同的选择和决定，也会展现人性的复杂。

人都是善恶混合体，没有纯善纯恶，只有一个人是善大于恶，还是恶大于善!

如何保护自己

  • 如果你收到任何电话, 短信, 电子邮件或可疑信件..不要回应.

  • 不披露税收机密信息 TO 任何可疑方的第3者.

  • 通过 IRBM 反馈 https://maklumbalaspelanggan.hasil.gov.my/MaklumBalas/en-US/

  • 致电联络 IRBM 中心 03-8911 1000

  • 致电联络你的税务代理人 (Tax agent)

  • 不要下载未知呼叫者请求的任何应用程序

  • 不要回拨未知的电话号码，

  • 可以在 IRBM 的官方网站 http://www.hasil.gov.my ,上查看 IRBM 电话号码

  • 下载 + 使用 Mytax 应用程序

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

LHDNM Flowchart Transfer Pricing Documentation

LHDNM Flowchart Transfer Pricing Documentation
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LHDNM Flowchart Transfer Pricing Documentation

The Inland Revenue Board of Malaysia (LHDNM) has uploaded guidance on the preparation of Transfer Pricing Documentation (TPD) on its website on 20 September 2021a TPD Flowchart.

The TPD Flowchart highlights the scope and application for the preparation of a contemporaneous TPD and also assist taxpayers to determine the circumstances where full or minimum TPD is required with reference to the Malaysian Transfer Pricing Guidelines 2012 which has been updated.

Source ;
LHDNM TPD Flowchart
https://lnkd.in/gMykZtzF

Read the full story in our blog
https://lnkd.in/gATreyBp

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/3jZuZuI
Linkedin https://bit.ly/3sapf4l
Telegram http://bit.ly/3ptmlpn

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

父母们都了解 SSPN 吗？

父母们都了解 SSPN 吗？
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父母们都了解 SSPN 吗？

各位家长注意啦！距离年尾还剩3个月的时间， 不要错过哦！

SSPN可以让你的 2021 年的个人税务减免高达 RM 8,000.00。

为了节省您的个人税务， 赶快在31/12/2021 前行动

什么是SSPN？

• 它是一个国名教育储蓄计划

• 为了鼓励父母们培养良好的储蓄习惯，提早为孩子准备教育基金

SSPN-I & SSPN-I Plus的分别

SSPN-I 就是现在所谓的SSPN Prime

• 纯储蓄的存款计划

• 存款者无需每个月固定存款

SSPN-I & SSPN-I Plus的分别

SSPN-I Plus就是现在所谓的SSPN Plus

• 它类似是储蓄保险配套， 可享有人寿保险，36种疾病医药保障，住院补贴等等。

SSPN可以扣税吗？

• SSPN-I 税务减免高达RM8,000

• SSPN-I PLUS 则分成两个部分

(i) 净存款 – 税务减免高达RM8,000

(ii) 人寿保险 – 税务减免高达RM3,000

税务减免例子

X先生在2021年总存款是RM8,000

间中他也提出RM2,500

所以他的净存款和税务减免将会是RM5,500

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

馬來西亞的課稅 2021

馬來西亞的課稅 2021
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馬來西亞的課稅

任何人士包括公司在馬來西亞應計從馬來西亞取得或從外國取得而在馬來西亞收到的一切所得均需課稅。

然而，從2004年課稅年度生效，任何人士（除了在一個課稅年裡從事銀行、保險、空運及船運業的居民公司外）從馬來西亞境外的來源取得併在馬來西亞收到的收入豁免課稅。

收入以當年為基礎進行評估，並且由馬來西亞稅務局 (IRBM) 管理的現行稅收評估系統是自我評估系統 (SAS)。在SAS中，要求納稅人誠實地申報收入併計算應納稅額。稅務事務的責任已移交給納稅人。

他們必須具有足的稅務知識，才能通過電子填寫提交所得稅申報表來正確評估其應納稅額。

公司稅

非居民公司…24%

居民公司 ：在一個估稅年的基準年開始普通股中繳足資本為250萬令吉或更少的

• 首50 萬令吉的應稅收入…17%

• 接下來的應稅收入…24%

个人所得稅

  • 每年應稅所得多於5,000 令吉 及不多於1 百萬令吉 (扣除個人減免額後) 的居民 …1% - 26%

  • 每年應稅所得多於1 百萬令吉) (扣除個人減免額後）的居民…28%

  • 每年應稅 2 百萬令吉 (扣除個人減免額後) 的居民 … 30%

  • 非居民個人 (不得享有個人減免額）… 28%

預扣稅

根據1967 年所得稅法或於雙重稅務協議（DTA）所列明的稅率，就下列特別分類的收,非居民個人和公司必須繳交最終的預扣稅，如下

  • 特殊類別之所得 … 10%

i. 於供應機器時的安裝服務

ii. 於提供任何科學，工業或商業企業，企業，項目或計劃的管理和管理有關的任何建議，

協助或服務。

iii. 動產的使用

  • 利息… 15%

  • 專利費…10%

  • 其他 佣金, 保證金, 代理費, 經紀費,介紹費 under 4(f) ITA 1967 … 10%

銷售服務稅 (SST)

  • 銷售稅一般為10％

  • 服務稅一般為6％

國內稅

  • 汽車 … 60% - 105%

  • 煙草和人造煙草代用品 …每支0.40 令吉 (0.09 美元) - 400 令吉

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  • 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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

如何进行所得税上诉通过 Form Q

如何进行所得税上诉通过 Form Q
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如何进行所得税上诉通过 Form Q

你收到了 IRB 发出的所得税 Form JA，我该怎么办？

当然 我要上诉!

如何上诉?.要这样做 within 30 days..否则你将失去上诉的权利!

  • 任何因人可以在评估通知 Form JA 30 天内提交 Form Q 出上诉

  • 提出上诉的纳税人必须提交 4 份 Form Q

  • Form Q 可以从 IRB 网站下载

  • Form Q 必须包含：

    • 根据有争议的评税通知税款的日期和金额；

    • 详细的上诉理由

  • Form Q 必须由纳税人本人签署

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

Judicial review tax Malaysia

Judicial review tax Malaysia
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Tax Appeal in Judicial Review

A rising trend for taxpayers to appeal in High Court via Judicial Review (JR) instead of Special Commissioners of Income Tax (SCIT)

All taxpayers aggrieved by the decision of the LHDN can appeal to the Special Commissioners of Income Tax (SCIT) . Normally it takes at least 3 years waiting period for the cases to be heard.

However

Judicial review (JR) under the Rules of Court 2012 is an available remedy for taxpayers to seek recourse.

Today we are going to cover the tax appeal avenue in Malaysia :

Option 1 : The local remedy Special Commissioners of Income Tax (SCIT)

Pursuant to section 99 of the Income Tax Act 1967, a person who is aggrieved by an assessment is entitled to appeal against that assessment to the Special Commissioners for Income Tax (“Special Commissioners”).

Option 2 : Application in Judicial Review to the High Court

In the alternative to the appeal procedure explained above, taxpayers may apply to the High Court to review the assessment made by the Director General by way of the judicial review proceedings.

Keynotes on Judicial Review (JR)

  1. Taxpayers must convince the High Court that there are “exceptional circumstances” to review the decision of the LHDN otherwise High Court will thrown taxpayers’ applications.

  2. Exceptional circumstances is defined as:-

    • Clear lack of jurisdiction

    • Blatant failure to perform some statutory duty

    • Serious breach of the principles of natural justice

  3. JR is much faster process to resolve tax dispute compared to SCIT

  4. Taxpayers are to apply for an order to quash the notice of assessment and penalties. Also taxpayers can apply for an interim stay (stand over) of payment of taxes until Judicial Review is heard.

  5. If JR application is dismissed, taxpayers are forced to go back to SCIT (provided filed a Form Q within time).

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  • 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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Tax treatment on assets held for sales

Tax treatment on assets held for sales
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Tax treatment of assets held for sale

As per LHDN Guidelines for income tax treatment of MFRS 5 : Non-Current assets held for sales and discontinue operation :

The asset must be available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets and its sale must be highly probable. Highly probable is defined under Para 8 FRS 5. One of the criteria is the sale should be completed within one year.

Overview of assets held for sale

By the end of this article, you will understand the meaning of assets held for sale and their tax impact.

What are Assets Held for Sales (HFS)?

Assets held for sale are a non-current asset which a Company plan to sell.

However, the process of selling assets may take a long time. During the period, the assets are not used for the operation of the business and not generating any kind of income.

Key issues:

Criteria of classification as an asset held for sales:

1. The asset must be available for immediate sale in its present condition.

2. The sale must be highly probable.

One of the criteria of “highly probable” is the sale should be completed within one year.

However, there are also some events and circumstances that may extend the period of completion of sale beyond one year.

Tax impact of assets held for sale

There are 2 circumstances if your assets classified as HFS:

Scenario 1:

Disposal made within the same basis period or within the following year of assessment

Balancing charge / (Balancing allowance) = Market value – Residual expenditure

A balancing charge will increase your chargeable income, but a balancing charge reduces your chargeable income.

Note: Market value is to be compared with a fair value of assets and disposal value whichever is higher.

Scenario 2:

Disposal in subsequent basis period (sale completed in more than 1 year, but not within the following year of assessment).

The calculation will be the same as scenario 1.

Once the classification of the asset has been made, the Company is not allowed to enjoy the capital allowance until disposal took placed.

Besides, the market value is based on the 2nd year fair value after being classified as HFS even no disposal is made.

Note: The asset is deemed disposed of if no disposal is made within the following year of assessment.

Conclusion:

Want to get tax savings on the disposal of assets? Plan the action before classifying your fixed assets to reduce your tax!

Source assets held for sale

http://phl.hasil.gov.my/pdf/pdfam/MFRS_5.pdf

http://phl.hasil.gov.my/pdf/pdfam/MFRS_5_amended_06022018.pdf

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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)

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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

Can taxpayer apply for further tax extension with IRB 2021 ?

Can taxpayer apply for further tax extension with IRB 2021 ?
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Application extension of time (EOT) for submission of income tax return form 2021

1. Can the taxpayer further apply for an extension?

  • Yes, if the taxpayer has a valid reasonable reason can apply for a further EOT.

  • The EOT application must be submitted 14 days before the deadline for submission of the return form (including the grace period)

2. How to do the application?

The application submits through the Customer Feedback System in the LHDNM’s Official Portal as follows:

• Visit to LHDNM website: Customer Care Officer

• Select the relevant LHDNM branch

• Click on “Contact Us: Click here”.

Note: The application for EOT will be processed within 7 days according to the period stated at LHDNM’s Client Charter

3. Latest extension of time (EOT) by IRB on 19.08.2021

A. Sdn Bhd (Form C)

i. 3 months EOT for the following financial year (FYE):

Financial year ended EOT

30.11.2020 30.09.2021

31.12.2020 31.10.2021

31.01.2021 30.11.2021

ii. 2 months EOT for the following financial year (FYE):

Financial year ended EOT

28.02.2021 30.11.2021

31.03.2021 31.12.2021

31.04.2021 30.01.2022

B. Individual business (Form P and B)

3 months EOT until 30.09.2021.

Note: The deadline of the tax payable amount of the year assessment is the same as the submission deadline of the return form.

Source:

Frequently asked questions on tax matters during the National Recovery Plan dated on 19.08.2021

Customer Care Officer

LHDNM’s Client Charter

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  • Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

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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

THK (Secretarial, Account, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsource booking, accounting and payroll services to clients

KTP Lifestyle

An internal community for our colleagues on work and leisure.

KTP Career

An external job community on vacancy in Johor Bahru for interns, graduates & experienced candidates.

#Ktp #Thks

 

 

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+6012-771 7903 (Secretary Department)
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+607-361 3443

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