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(TAX UPDATE) Can a Sdn Bhd Use Cash Basis Accounting in Malaysia?
Last month, a new Sdn Bhd director called me and said: “Can I prepare my accounts on cash basis?”“Very unfair to pay tax when customers not pay yet!”“Government untung. We suffer!” I almost fainted. Not because it’s a common question from directors but because this thinking is what quietly gets many SME directors into audit,…
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Why Law-Abiding Businesses Feel the Most Pain in Malaysia
Doing the right thing is getting more susah in Malaysia. Yesterday, just before a Hash run, I bumped into an old hasher friend. Quick small talk.He asked, “How’s business?”I asked back, “How’s yours?” He runs an optical shop in Johor Bahru.More than 40 years already. A seasoned businessman. And his answer was simple and heavy.…
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CP500 Penalty Waived for 2026 … What This Means for Taxpayers
On 5 January 2026, Lembaga Hasil Dalam Negeri Malaysia (HASiL) announced an important concession following the New Year Address 2026. Many individual taxpayers who received CP500 instalment notices, especially salaried employees with some side income, were concerned about penalties. The Government has now confirmed that no penalty will be imposed in 2026 for non-payment of…
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Dear Young Professionals in Accounting Firms,
I still remember a group of Big 4 audit staff came to my office for a meeting. They were smart. Polite. Well spoken. After the meeting, they left.And on the table… used tissues, scattered papers, empty cups. I stood there for a moment and thought the next morning,“Alamat… how can this happen? Where is the…
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(Tax Update) A Practical Guide for SMEs on Qualifying for Pioneer Status and Investment Tax Allowance under MIDA’s Promoted Activities & Products List
Most SMEs think tax incentives are something you apply for after you invest. That is already too late. In Malaysia, Pioneer Status and Investment Tax Allowance are not automatic. They are controlled by one document only. MIDA’s Promoted Activities and Products List. If your activity is on the list, you may qualify.If it is not,…
Koh Teck Peng Blog 