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Stay up to date with the latest from our blog.
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Key Updates from IRBM for Employers
Despite our continuous reminders, many employers still make common mistakes such as: ✅ Late or non-submission to notify IRB about new employees.✅ Late or non-submission to notify IRB about resigning employees.✅ Providing incorrect information. Starting January 1, 2024, IRBM mandates online submission of Form CP21 via MyTax for employees leaving Malaysia for over 3 months.…
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How to Improve Tax Knowledge Based on My Experience Part 1
As a licensed tax agent in Malaysia, it’s crucial for our tax juniors to master the skill of researching and applying tax cases. Understanding how to dissect and analyze case law will enhance your ability to provide accurate and comprehensive tax advice. Here’s a structured approach to help you navigate through tax cases effectively. Key…
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(Tax Update) High Court Ruling on Rental Income
In the landmark case of BAZ Consolidated Sdn Bhd v Ketua Pengarah Hasil Dalam Negeri [2024] 1 AMR, the High Court addressed crucial tax issues on rental income. Here are the key takeaways for our clients at KTP: ✅ Income ClassificationRental income should be classified under Section 4(d) of the Income Tax Act, not Section…
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(Office) Naming KTP Explained
This November, as KTP & Company celebrates its 25th anniversary, it’s the perfect time to tell you why we’re named KTP. It’s not just a random choice, but a necessity because of strict rules and our commitment to doing things right. Twenty-five years ago, when I was about to start my own auditing firm, I…
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Avoid Incriminating Evidence in Audit Working Papers
As a partner at KTP, I would like to share a crucial lesson about the importance of good audit documentation. Let me take you back to a scenario we encountered recently, which underscores the seriousness of this issue. The story … Imagine we are in the middle of an audit for a client. The deadline…
