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(Tax Update) : Guidelines on Capital Gains Tax for Unlisted Shares
The Inland Revenue Board of Malaysia has issued the Guidelines on Capital Gains Tax for Unlisted Shares dated 1 March 2024 on its website. Key Summaries of the Exemption Order1. Introduction of CGT under the Income Tax Act 1967 (ITA) effective from January 1, 2024, with implementation starting March 1, 2024. 2. CGT applies to…
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Capital Gain Tax (CGT) Exemption – Gains From Disposal Of Capital Asset Arising From Outside Malaysia Received in Malaysia
The Income Tax (Exemption) (No. 3) Order 2024 (“Exemption Order”) was gazetted on 4 March 2024. Key Summaries of the Exemption Order1. This exemption applies to gains from selling foreign assets by certain entities include companies, partnerships, trusts, and co-operatives that meet certain conditions in Malaysia. 2. The exemption is valid from January 1, 2024,…
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Aura Test with My Key Management
Today, I suddenly decided to take my main team leaders for an aura test. We didn’t plan this before; it was a quick idea I had that I thought might help us. The reason for doing this out of the blue was to check how energetic my team feels right now. With the aura test,…
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Expansion of Taxable Services – Repair & Maintenance
Royal Malaysian Custom Departments released the Service Tax guidance for repair & maintenance services in Malaysia, as of February 26, 2024. Key points include: 1. Introduction of service tax on maintenance or repair services under the Service Tax Act 2018 from September 1, 2018.2. Mandatory registration for providers exceeding a threshold, with a focus on…
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Read The E-Myth if you are in an accounting firm!
I just re-finished the “E-Myth revisted” (there is an E-myth for hashtag#accountants too, but I didn’t read that version). Here are the main points you can learn: 1. Balance Your RolesAccountants should not just focus on doing accounting work. They also need to think like bosses who plan for the future and managers who organize…
Koh Teck Peng Blog 