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马来西亚-延税攻略 3

马来西亚-延税攻略 3
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延税攻略 - 终极版 2021 

Read the full story in our blog
https://www.ktp.com.my/blog/tax-deadline-extension-2021-chinese/27june2021


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Tax extension 2021

Tax extension 2021
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Extension of time (EOT) for tax filing and payment

Inland Revenue Board Malaysia (“IRBM”) has updated the 2021 Return Form Filing Programme on 26 June 2021.

A 2-month grace period has been given for the submission of the tax returns for the following group of taxpayers:-

Personal tax

For the submission of Forms B, P, BT, M, MT, TF, TP and TJ (individuals, partnerships, associations, deceased persons’ estate and Hindu Joint Families who carry on business) as well as for the payment of the balance of tax payable (if any) for the year of assessment (“YA”) 2020 :

Statutory deadline : 31/06/21

Extended deadline : 31/08/21

Company tax

For the submission of Forms C, C1, PT, TC, TA, TR and TN (companies, cooperative societies, limited liability partnerships and trust bodies) as well as for the payment of balance of tax payable (if any) for the accounting periods ending 1 October 2020 to 31 January 2021

Kindly refer to the below for the extended deadline.

Source :

IRB anncoucement http://phl.hasil.gov.my/pdf/pdfam/ProgramMemfailBN_2021_Pin.3_2.pdf

 

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𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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LHDN E-Pin Application

LHDN E-Pin Application
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How to apply pin number for e-filing?

Step 1:

Visit LHDN customer feedback via https://maklumbalaspelanggan.hasil.gov.my/MaklumBalas/en-US/

Step 2:

Select “Application”

Step 3:

Download the form

-CP55D for individual registration

-CP55B for organization registration

Step 4:

Click “Next”

Step 5:

Fill in the information required:

a) Sender information

b) Taxpayer information

Step 6:

a) Fill in the info at “Feedback category”

b) Upload CP55D (individual) or Upload CP55B (organization)

Step 7:

Click “Submit”

Step 8:

Receive “Submission Number”

Step 9:

Check the “feedback status” with the submission no. and NRIC after 7 working days

Step 10:

Received the “No.Pin e-Filing” by email

Step 11:

Select the link and Click “Log kali Pertama” https://ez.hasil.gov.my/ci/Login.aspx?page=14

Step 12:

Fill in the “No Pin e-Filing” and NRIC No.

Step 13:

Click “Hantar” and you will need to reset your own “password”

You can log in to LHDN website through your password now!!

Source:

Applying for the e-Filing pin number http://lampiran1.hasil.gov.my/pdf/pdfam/TatacaraPermohonanNoPineFiling_2.pdf

User Manual No. Pin Application & First Time Login https://ez.hasil.gov.my/ci/Panduan/PanduanCI_PermohonanNoPIN_e%20V1.2.pdf

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KTP (Audit, Tax, Advisory)

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How to amend tax return submitted

How to amend tax return submitted
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Overview

Taxpayers are allowed to make amendment on the information or assessment for the submitted Tax Return Form(TRF) under Section 77B of the Income Tax Act 1967 (ITA 1967) or Section 30B of Petroleum (Income Tax) Act 1967 (PITA 1967) by using the Amended Return Form (ARF).

Key takeaway

You will understand:

  • Rules of submission

  • Terms for submission

  • Rate of increase in tax

  • Method of submission

Summary of learning

Taxpayers are allowed to make amendment when there is:

  • Understate of income / unreported income

  • Expenses over claimed

  • Capital allowances / incentives/ relief over claimed

The amendment limit to once for a year of assessment.

The amendment is disallowed if the Director General of Inland Revenue (DGIR) has made amended assessment for the submitted TRF.

What are the terms for submission ARF?

ARF must be submitted within 6 months from the due date of TRF

A duly completed ARF must state:

  • the amount / additional amount of chargeable income

  • the additional tax payables

  • the amount of tax payable on the tax which has or would have been wrongly repaid;

  • the increased sum ascertained in accordance with subsection 77B (4) of ITA 1967 or subsection 30B(4) of ITA 1967;

  • other contains required by the DGIR.

What is the rate of increase in tax?

The additional tax payable amount in ARF is subject to an increase in tax of 10%.

The formula = the amount of such tax payable or additional tax payable x 10%.

The total tax payable amount must be paid at the same date of ARF is submitted.

What are the methods for submission ARF?

ARF can be submitted in the following ways:

  • Online e-filing (only for corporate taxpayer: Form C)

To visit https://mytax.hasil.gov.my > click e-Filing > click e-Form > choose e-BNT C

  • Manual filing

    - download ARF on Lembaga Hasil Dalam Negeri (LHDN) website:

    To visit http://www.hasil.gov.my > Forms > Download Forms (in Malay Version) > Handle the completed ARF to LHDN branch

Sources

GPHDN 1/2020: - Procedure on submission of Amended Return Form

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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)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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When can you write off a bad debt for tax purposes?

When can you write off a bad debt for tax purposes?
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Sad to see so many companies close down with many people are retrenched and unemployed in this pandemic. Is it right?

With the implementation of conditional movement control MCO 3.0, one of the key tax concerns that businesses will face during this period is the tax treatment of bad debts.

This tax question has become increasingly common “Should taxpayers use legal action to recover any debts for tax purposes?”.

Let’s talk about the bad debts written off in a tax perspective :

What is debts

Debts that are allowed as a deduction in ascertaining the adjusted income of a business is a trade debt that is irrecoverable either wholly or partly. Such debt is written off as bad. Trade debt is a debt that arises from the sales of goods or services and has been included in the gross income of the business.

Reasonable consideration under S34(2) of the ITA

Reasonable consideration should be taken before writing off a trade debt as bad and then allowed as a deduction in ascertaining the adjusted income of a business.

Reasonable steps to recover the debt should be taken before any decision is made to write off the debt. Subsection 34(2) of the ITA allows a trade debt which is reasonably estimated to be irrecoverable either wholly or partly, to be deducted from gross income in computing the adjusted income of the business

Inland Revenue Board Malaysia Public Ruling 4/2019 Tax Treatment of Wholly and Partially Irrecoverable Debts & Debt Recovery

Public Ruling No 4/2019 states bad debt is defined as a debt that is considered not recoverable after appropriate steps have been taken to recover it.

Public Ruling No 4/2019 described the basis of writing off a debt as bad and the actions to be taken to recover the debt as well as the evidence to prove such actions have been taken.

Determination Of Bad Debt

The bad debts written off are allowed as deduction, if:

* The debt is a debt that arises from the course of carrying on a business (i.e. trade debt).

* Trade debt shall be included in the gross income prior to the relevant YA.

Circumstances when a debt can be considered as irrecoverable

Debts which are irrecoverable become bad (either wholly or partly) when all reasonable steps have been taken to recover such debt. As long as there are any other reasonable steps for recovery , such debt cannot be written off as bad.

After reasonable steps for recovery as in paragraph 5.3.1 have been taken, a debt can be considered as wholly irrecoverable or bad on the occurrence of any one of the followings:

* Trade debt cannot be recovered.
* The debtor has died
* The debtor is a bankrupt
* The debt is statute-barred
* The debtor cannot be traced despite various attempts
* Any other circumstances where there is no likelihood of cost effective recovery

Reasonable steps have been taken to recover the trade debt:

All reasonable steps based on sound commercial considerations should be taken to recover the debt.

To support a claim for deduction of a bad debt written off for tax purposes, there should be sufficient evidence of such steps taken, including one or more of the following:


* Issuing reminder notices
* Debt restructuring scheme
* Rescheduling of debt settlement
* Negotiation or arbitration of a disputed debt
* Legal action

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KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

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We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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Tax case on bad debts write off

Tax case on bad debts write off
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Frustrated when IRB adds back your bad debts in a tax audit.

Time is bad, pandemic cause bad debts to rise. Learn IRB official guidelines on bad debt tax treatment.

Why?

Bad debt is always our tax authority focus area. 100% guarantee !

Let’s learn this tax case on IRB fight on bad debts: Quality Concrete Holdings Berhad vs Ketua Pengarah Hasil Dalam Negeri.

In YA 2004, Quality Concrete Holdings Berhad (QCHB) claimed for tax deduction on bad debts of RM608,731.25 (balance of value work done: RM950,000.00). IRB disallowed the deduction on bad debts written off and imposed a penalty under Section 113(2) of the Income Tax Act 1967 (ITA 1967).

IRB argued that:

QCHB did not recognised the value of work done (i.e. RM950,000.00) as gross income for the year of assessment (YA) 1999 up to YA 2004.

Therefore, the deduction of bad debt should be disallowed according to Section 24 and 34 of ITA 1967:

“The amount of the debt shall be treated as gross income of the relevant person from the business

for the relevant period.”

QCHB argue …

The claim amount had been reported under the trade debtors account in the Balance Sheet as at 31.01.1998 for YA 1999.

The claim for the bad debt should be allowable according to Section 24(1)(b) of ITA 1967:

“any services rendered at any time in the course

of carrying on a business.”

QCHB argued it is a trade debt arising in respect of carrying on a business irrespective of where and how the sum of RM950,000.00 was entered and described in the account.

QCHB had acted in good faith and the impugned assessment involved technical interpretation. Thus, penalty should not be imposed.

The decision from the court :

Agreed with IRB tax treatment on deduction of bad debt is disallowed under Section 34(2) of the ITA 1967.

Technical interpretation and good faith are not valid defenses for penalty under Section 113(2) of ITA 1967.

Thus, the penalty imposed under Section 113(2) of ITA 1967 is correct because QHCB had filed an incorrect return and gave incorrect information.

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𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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Tax issue on 𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐜𝐞𝐢𝐯𝐞𝐝 𝐨𝐧 𝐜𝐨𝐦𝐩w

Tax issue on 𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐜𝐞𝐢𝐯𝐞𝐝 𝐨𝐧 𝐜𝐨𝐦𝐩w
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𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐫𝐞𝐜𝐞𝐢𝐯𝐞𝐝 𝐨𝐧 𝐜𝐨𝐦𝐩𝐮𝐥𝐬𝐨𝐫𝐲 𝐨𝐟 𝐥𝐚𝐧𝐝 𝐟𝐫𝐨𝐦 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐢𝐬 𝐭𝐚𝐱𝐚𝐛𝐥𝐞?

Overview of compulsory acquisition of land.

Compulsory acquisition is the power of the government to acquire private rights in a land without the willing consent of its owner or occupant in order to benefit society.

The compensation amount of acquisition is determined by the government.

𝗞𝗲𝘆 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀:

You will understand: -

1. Criteria to meet compulsory acquisition of land

2. Tax treatment on compulsory of acquisition of land-based on real tax case

𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬:

Compulsory acquisition of land did not fall under the gross income unless the taxpayer when obtaining the said land had knowledge that it would be acquired by the government.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐜𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐭𝐨 𝐦𝐞𝐞𝐭 𝐜𝐨𝐦𝐩𝐮𝐥𝐬𝐨𝐫𝐲 𝐚𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐥𝐚𝐧𝐝?

1.There is no intention to sell the land.

2. During the purchase of the land, the owner should not aware of any government’s intention to acquire the land.

Tax treatment on compulsory acquisition of land-based on real tax case: Penang Realty Sdn. Bhd. v. Ketua Pengarah Hasil Dalam Negeri

A parcel of land was compulsorily acquired by the Government in August 1980 and was paid the sum of RM1,035,762.91 as compensation. IRB is claiming tax for the said compensation.

Penang Realty Sdn. Bhd. didn’t agree. The acquisition was compulsorily acquired and there is no intention to trade the land.

IRB argument - Gain on the disposal of land is taxable under section 4 of the Income Tax Act 1967 (ITA).

The decision by The Court

The proceeds received were not subject to income tax as the Company is no intention to trade the land and it was the compulsory acquisition of land.

𝐒𝐨𝐮𝐫𝐜𝐞𝐬:

http://lampiran2.hasil.gov.my/pdf/pdfam/PREALTYvsKPHDN.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)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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营业前的费用

营业前的费用
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如何处理营业前费用like pro...
一般上, 公司营业前所产生的费用都是无法扣税的...
但是...

1. 含义- 营业前的费用

营业前的费用 (Preliminary Expenses/Pre-Operating Expenses)

在公司开始运作之前有些费用是务必要花的，这些费用在会计的角度就是营业前的费用。

这些费用基本包括（并不是每个费用将获得扣税资格）：

· 市场调查与研究费用

· 律师与秘书费用

· 公司成立的专业的咨询费用

· 招聘与培训员工的费用

· 行政费用等等

2. 复式进账法

Debit 营业前的费用 （Income Statement - Expenses)

Credit 现金 （Balance Sheet - Current Asset)

3. 费用扣税资格与条件

一般上，公司营业前所产生的费用都是无法扣税的。但是某些费用在一定的条件下是可以扣税的。条件如下：

- 该公司必须成立与坐落于马来西亚，商业活动也必须获得财政部长的批准。

例如：市场调查与研究费用，以市场调查为目标的国外交通费与每日不超过四百令吉的国外生活花费都能扣税。

- 该公司的注册法定资本不可超过2,500,000令吉。

例如：注册公司的相关手续费，准备与打印公司章程费，印花税与公司印章费都是可扣税的。

- 生产业公司培训员工的费用可享有双重扣税的福利，但必须达到以下条件：培训费须在营业前发生，培训内容须与产品未来的生产相关，培训计划的机构须获得马来西亚工业发展局（MIDA）与财政部长的批准，培训的员工必须是马来西亚公民。

4. 例子

陈先生于2020年2月15日在马来西亚注册成立，法定资本为500,000令吉。他于2020年4月1日开始从事汽车零件零售业务，并于每年的3月31日作为年度结账。截至2021年3月31日， 该公司的营业前费用有：申请生意上的准证，文书注册，公司章程备忘录及印花税。这些费用总共是4,500令吉。

复式进账法：

Debit 营业前的费用 - 4,500令吉

Credit 现金 - 4,500令吉

这些费用在税务上可进行扣税，原因是这些费用属于可扣税费用与法定资本少于2, 500,000令吉。

欲知更多可参考以下网址：

IRB Public Ruling - PRE-OPERATIONAL BUSINESS EXPENDITURE PUBLIC RULING NO.11/2013

http://phl.hasil.gov.my/pdf/pdfam/PR_11_2013.pdf

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KTP (Audit, Tax, Advisory)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

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Large Taxpayer Branch LHDN

Large Taxpayer Branch LHDN
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Do you know IRB has a VIP category for taxpayers in Malaysia?

Why?

Improve the quality of services to VIP taxpayer (aka more audit in the future) as per IRB press statement.

Read the full story in our blog
https://lnkd.in/gpGp6AA

Source
IRB press statement on Large Taxpayer Branch
https://lnkd.in/gEjVs-p

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)
Website www.ktp.com.my
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𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
Website www.thks.com.my
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𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
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𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
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We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting, and payroll firms that commit to help and grow our client's business.

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#ktpcareers
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#Thk
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IRB FAQ (updated) 3 June 2021

IRB FAQ (updated) 3 June 2021
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Our Inland Revenue Board (IRB) has issued an updated version of the FAQ dated 3 June 2021 (after the original FAQ dated 2 June 2021).

Take note of the key updates before the FAQ changes again in view of the anticipated extension of lockdown.

Notification of new employee (Form CP22)
Submission of the Form CP22 can be made through the Customer Feedback Form
on the IRB’s Official Portal.

Tax clearance letter
Tax clearance letter will be processed after all documents and information are furnished completely.
The application for the tax clearance letter can be submitted through:
1. e-SPC
2. the Customer Feedback Form on the IRB’s Official Portal.

Tax estimates (Form CP204) & Notification of change in an accounting period (Form CP204B)
Application for extension of time (EOT) for the above forms is no longer required as EOT is now given until 31 July 2021 for submission of the above forms.

Revised tax estimates (Form CP204A & Form CP502)
Application for EOT for the above forms is no longer required with EOT already given until 31 July 2021 for submission of the above forms.

Deferment of tax payment (Form CP204 & Form CP500)
Tourism, Cinema and Spa industries
The deferment of payment of CP204 (monthly installment of tax estimates) and CP500 (bi monthly installments for individuals) will apply for taxpayers with business activities under the tourism, cinema and spa industries.

These taxpayers will be identified based on the business code from their latest income tax returns filed with the IRB.

The deferment will be provided automatically to the eligible taxpayers.

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)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

#IRB

#LHDN

 

 

Remission of GST Penalty under MCO 3.0

Remission of GST Penalty under MCO 3.0
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The latest announcement from RMC on remission of GST (YES! IT IS NOT SST) penalty. T&C apply
Source :
RMCD annoucement -REMISI PENALTI GAGAL/LEWAT BAYAR
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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

Income Tax under MCO 3.0

Income Tax under MCO 3.0
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Key Summary of IRB FAQ on MCO 3.0 dated 2/6/21
1. What gets extension?
2. What gets no extension?
3. How to apply for extension?
4. & more

Read the full story in our blog
https://www.ktp.com.my/blog/irb-faq-mco3/08june2021
 
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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

MCO 3.0常问所得税8️问题

MCO 3.0常问所得税8️问题
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马来西亚-延税攻略3️⃣
MCO 3.0常问所得税8️问题

Read the full story in our blog
https://www.ktp.com.my/blog/irb-eot-part3/08june2021
 
Source :
IRB annoucement
PS :
🔥延税攻略 2️⃣- MCO 3.0 所得税提供两种通融...
🔥延税攻略 1️⃣- MCO 3.0 所得税FAQ
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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

马来西亚-延税攻略2

马来西亚-延税攻略2
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🔥火爆登场🔥 马来西亚-延税攻略2
因疫情或全封而无法缴税，税收局提供两种通融 ....

Read the full story in our blog
https://www.ktp.com.my/blog/irb-eot-part2/04june2021
 
Source :
IRB annoucement
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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

𝐈𝐑𝐁 𝐰𝐢𝐥𝐥 𝐭𝐚𝐱 𝐲𝐨𝐮𝐫 𝐜𝐚𝐬𝐮𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞 𝐰Ү

𝐈𝐑𝐁 𝐰𝐢𝐥𝐥 𝐭𝐚𝐱 𝐲𝐨𝐮𝐫 𝐜𝐚𝐬𝐮𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞 𝐰Ү
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𝐈𝐑𝐁 𝐰𝐢𝐥𝐥 𝐭𝐚𝐱 𝐲𝐨𝐮𝐫 𝐜𝐚𝐬𝐮𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞 𝐰𝐡𝐢𝐜𝐡 𝐲𝐨𝐮 𝐚𝐥𝐰𝐚𝐲𝐬 𝐚𝐬𝐬𝐮𝐦𝐞 𝐢𝐬 𝐧𝐨𝐭 𝐭𝐚𝐱𝐚𝐛𝐥𝐞

👉Overview of casual profit/income
A casual profit is an income which, received by a person from an activity outside his ordinary trade or vocation, but which nevertheless is a profit or income item accruing to him by virtue of services rendered or a receipt payment from property not chargeable elsewhere.

👉Key takeaways:
You will understand: -

1. What is casual profit or income?
2. Tax treatment of casual profit or income based on real tax case.

👉Summary of learnings:
Casual profits or income is chargeable under section 4(f) of the Income Tax Act (ITA) 1967.

👉What is the casual profit or income?
Payments for services are income even where there is no repetition, such as the followings:
✅Commissions paid to a director for guaranteeing bank overdrafts or bank loans.
✅Brokerage fees
✅Introduction fees
✅Fees for the occasional hosting as the master of ceremony, fees for the occasional newspaper articles, or the giving ad-hoc lectures.

👉Tax treatment on casual profit or income based on real tax case ABM v. KETUA PENGARAH HASIL DALAM NEGERI (PKCP (R) 780/2017)

IRB raised a tax query of the source of income arose to purchase an asset under taxpayer and his wife. The source of income of RM750,000 is arriving from for introduction fees and this income was not reported.

Decision by The Court The final judgement is the income of RM750,000 are taxable under section 4(f) ITA 1967.
👉Sources: http://phl.hasil.gov.my/pdf/pdfam/ABM_v_KPHDN_21012021.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)
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)
Website www.thks.com.my
Facebook https://bit.ly/3nQ98rs

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
Tiktok http://bit.ly/3u9LR6Q
Youtube http://bit.ly/3ppmjyE
Facebook http://bit.ly/3ateoMz
Instagram https://bit.ly/3jZpKLo

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
Instagram https://bit.ly/3u2PxHg
Facebook http://bit.ly/3rPxz9o

We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

马来西亚-延税攻略

马来西亚-延税攻略
View Full Size
火爆登场🔥
马来西亚-延税攻略
Source :
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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
We are one-stop (2️⃣0️⃣years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

Tax matters under Pemerkasa

Tax matters under Pemerkasa
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Tax matters under Pemerkasa announced by our Prime Minister before total lockdown on 31 May 2021.
Read the full story in our blog
https://www.ktp.com.my/blog/tax-matters-pemerkasa/01june2021

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)
𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)
𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)
𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
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tax deduction on entertainment.

tax deduction on entertainment.
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Confused over tax deduction on entertainment.
Let's refresh LHDN ruling on 100% tax deduction on entertainment


Please read full story in our blog
https://www.ktp.com.my/blog/100-tax-deduction-entertainment/28may2021

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)

𝐓𝐇𝐊 (𝐒𝐞𝐜𝐫𝐞𝐭𝐚𝐫𝐢𝐚𝐥, 𝐀𝐜𝐜𝐨𝐮𝐧𝐭/𝐏𝐚𝐲𝐫𝐨𝐥𝐥, 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
(𝐎𝐮𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐞𝐚𝐠𝐮𝐞𝐬)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫
(𝐎𝐮𝐫 𝐞𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐣𝐨𝐛 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐫𝐧𝐬, 𝐠𝐫𝐚𝐝𝐮𝐚𝐭𝐞𝐬 & 𝐞𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞𝐝 𝐜𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 )
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what is capital statement in tax investigation

what is capital statement in tax investigation
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How IRB detect individual taxpayer’s under-reported income?

Overview

On 20.12.2020, Inland Revenue Board (IRB) published an article “Should Capital Statement be made law in Malaysia?” in The Star Malaysia. Most of the taxpayers will come with a doubt on how IRB determine whether individual has under-reported profit or income.

Key takeaway

You will understand:

1.       What is capital statement

2.       Why capital statement so important?

3.       What we need to do?

Summary of learning

What is capital statement?

 1.       Capital statement is a statement to show the net worth of an individual.

 2.       It consists of:

-          CP102 (Pin 10/80): Statement of Personal & Private Expenses (Equivalent to Income Statement)

 -          CP103 (Pin 5/96): Statement of Net Assets (Equivalent to Balance Sheet)

 Why capital statement so important?

1.       Capital statement is a tool used by LHDN to analyse individual taxpayer’s reported tax amount, and to detect any under-reporting or evasion of income.

 2.       The basic formula is Income = Saving + Spending

-          It means each person earning should equal to their “Saving and Spending”.

-          Individual tax payer has to be aware of any surplus of saving or spending as it will expose to LHDN as signal of unreported income.

 3.       All figures in the capital statement must be supported by documentary evidence.

 4.       LHDN has the power to raise additional tax payables based on “best judgement assessment” if taxpayer:

 -          unable to explain the surplus or deficit in the capital statement.

-          fail to keep records or supporting documents.

What we need to do?

1.       To prepare a capital statement earlier to avoid any uncertainty on the movement of funds.

2.       To keep all the supporting documents / evidence on income and money spent.

3.       To prepare on a yearly basis to avoid memory loss on income earned or expenses spent.

Reference:

http://phl.hasil.gov.my/pdf/pdfam/20201220_The_Star_Should_Capital_Statement_Be_Made_Law_In_Malaysia.pdf

https://www.thestar.com.my/news/nation/2020/12/20/should-capital-statement-be-made-law-in-malaysia

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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)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

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We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

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Tax treatment on Investment Holding Company

Tax treatment on Investment Holding Company
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𝐈𝐬 𝐦𝐲 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐛𝐞𝐜𝐨𝐦𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐇𝐨𝐥𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 (𝐈𝐇𝐂) 𝐦𝐚𝐜𝐚𝐦 𝐢𝐧𝐢? 𝐚𝐧𝐝 𝐤𝐞𝐧𝐚 𝐭𝐚𝐱 𝟐𝟒%

If

  1. A property developer company completed and sold completed units,

  2. Now only …receive interest income from fixed deposit

  3. But ….the company has some vacant lands in its book

Our opinion :

  1. The company is not dormant

  2. The company has business operating expense.

  3. The company has incurred capital expenditure (subdivision, submit plan…)

  4. So …the company is not IHC.

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, legal or other professional advice. Please refer to your advisors for specific advice.

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)

𝐊𝐓𝐏 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞 (Our internal community for our colleagues)

𝐊𝐓𝐏 𝐂𝐚𝐫𝐞𝐞𝐫 (Our external community for interns, graduates & experienced candidates )

𝐓𝐇𝐊 (Secretarial, Account/Payroll, Advisory)

We are one-stop (20 years+ history) audit, tax, secretarial, accounting and payroll firms which commit to help and grow our clients business.

#Thk

#KTP

#KTP lifestyle

#KTPcareers

#personaltax

#irb

#LHDN


 

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THK Group of Companies THK Management Advisory Sdn Bhd 200401000220 (638723­X) THK Secretarial PLT 202304003367 (LLP0037327-LGN)

Wisma THK, No. 41, 41-01, 41-02, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru, Johor, Malaysia.
+6012-771 7903 (Secretary Department)
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+607-361 3443

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