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Tax Paid by Employers: What You Need to Know
Did you know that when an employer agrees to pay an employee’s income tax, this “benefit” is considered part of the employee’s taxable income? While this might seem like a generous gesture, it comes with tax implications for both the employer and the employee. I will break down the essentials of the new guidelines under…
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When Ex-Clients Seek Free Advice
Last week, a former client who had switched to a cheaper service provider called me. He inquired about tax planning for a company car registered under an employee’s name. Specifically, he asked if the employee should charge car rental to the company!!! I explained that, according to the Inland Revenue Board’s Public Ruling, the company…
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What Do Clients Complain Most
A client walks into their yearly audit review, hopeful for a smooth and efficient process. Instead, they are greeted by a new Person-in-Charge (PIC), unfamiliar with their company’s unique challenges. Frustration mounts as the client spends hours re-explaining issues that were supposedly resolved in previous audits. Sounds familiar? This is a common complaint among clients,…
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(Tax Update) Attention Employers: Prepare for the Transition to e-PCB Plus!
The Inland Revenue Board of Malaysia (IRBM) is introducing a new e-PCB Plus system starting from the assessment year 2025. This system will replace the existing e-CP39, e-PCB, and e-Data PCB systems for the submission of PCB (Potongan Cukai Bulanan) statements and payments, including CP38 deductions. To ensure a smooth transition, Phase 1 of the…
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ACCA in the 90s: 18 Papers
Back in the 90s, pursuing ACCA was like running a marathon uphill. The qualification demanded me to clear 18 papers, spread across three (3) grueling levels. Today, students face just 13 papers, and honestly, I can’t help but marvel at how much “easier” the journey has become. One of the most nerve-wracking moments of my…
