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How I Review Audit Planning Memorandum (APM)
Excited to share how we at hashtag#ktp approach the crucial phase of audit preparation with our Audit Planning Memorandum (APM). Think of the APM as our detailed guide for conducting thorough and effective audits. In my role as audit partner, alongside our dedicated managers and seniors, I delve deep into the APM. Our main focus?…
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Common Mistakes In Form E
The deadline for Form E compliance filing is approaching. Here are some common mistakes on Form E in Malaysia based on my experiences : 1 .Incorrect Employee InformationMake sure to provide accurate details like name, IC number, and salary. 2. Incorrect Employer InformationDouble-check your company details such as name, registration number, and address. 3. Incorrect…
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(Tax Update) Tax Implication on Waiver of Debts
As a tax agent, I am deeply concerned about debt waivers, especially when a company decides to close its doors for good (strike off or winding up). A recent tax case, Multi-Purpose Credit Sdn Bhd (MPC) v. Director General of Inland Revenue (DGIR), highlights why this is such a big deal. So, why does this…
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Why I Ride #bicycle During Lunch?
Do you know I used to ride from Kulai to Taman Molek via Desaru Highway to work from 2016 to 2017? Despite what it might seem, I’m not an extreme biking hardcore hashtag#cyclist. I only stopped from cycling to work when on the highly publicised road accident that killed eight teenagers riding modified bicycles on…
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Malaysia Service Tax Rise to 8% March 2024
Here’s what you need to know:✅ Some services like food, telecom, parking, and logistics stay at 6%.✅Credit card fees remain at RM25/year.✅Other services like accommodation and clubs will be taxed at 8%. Transition Rules:✅ Services provided before March 1, 2024, are taxed at 6%, but after that date, it’s 8%.✅Payments made before March 1, 2024,…
