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RM40,000 Fine for Late Filing.
RM40,000.That was the number that stayed with me after reading the newspaper yesterday. The Malay Chamber of Commerce Malaysia has asked SSM to reconsider the high compound fines imposed on companies under the Companies Act 2016. For many SME owners, this is not just a regulation issue.It is a survival issue. Most of these fines…
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Your Charity Has Tax Exemption.But Are You Still Safe?
Many charity operators (Institutions/Organisations/Tabung) (IOT) breathe a sigh of relief once the approval letter under Section 44(6) of the Income Tax Act 1967 arrives. Approval obtained.Donors reassured.Committee members move on to the next urgent task. I understand this very well. Most IOTs operate with very limited staff and rely heavily on volunteers who are already…
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The Leader Behind the Scenes While I Was on the Road
I just returned safely from 14 days of adventurous motorbiking across Malaysia, Thailand, Laos, and Vietnam. As expected, many people asked the same question.“How can you leave your firm for so long?” The honest answer is this.Because I have a COO who runs the firm as if it were her own. Adventure has always been…
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After My Dog Food Post… a Client Asked About Her Pomeranian
I thought my “dog food tax deduction” story ended yesterday. I was wrong.Because the next morning, before I even finished my kopi, a client called me with a new level of surprise. She asked, in a very confident tone,“Mr Koh… if dog food on factory dog can claim tax, can Pomeranian dog or not?” I…
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We are Hiring ….
If you ever wondered what life inside a real audit and tax firm looks like, this is it. Peak season is tough, but it is also the place where young accountants grow the fastest. Mr Koh Teck Peng, our group principal, sat down with our colleagues Pei Jun and Mqteo, who just survived their peak…
Koh Teck Peng Blog 