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Continue reading →: IRB Guideline is Out : Stamp Duty Exemption for Old Employment Contracts!
LHDN just dropped an important update that might affect your HR documents especially your employment contracts. What’s new? If your employment contract was finalised before 1 Jan 2025, you’re exempted from stamp duty (RM10 under Item 4, First Schedule, Stamp Act 1949). No penalty for late stamping too. But there’s…
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Continue reading →: I Didn’t Run the Charity Event … But My Team Did. That’s My Real Win.
“Boss, why you didn’t join the charity run?”That one question from my colleague caught me off guard. She asked while handing over an audit file for review on a hectic Tuesday morning. I smiled.Told her the truth.Calf injury. Uric acid flare-up. Three weeks and counting. Still recovering. But deep inside……
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Continue reading →: MITRS 2025: More Work. More Cost.
“Boss, this one just upload PDF only?” That is a common response we hear from our SME client But as your tax agent, we see the full picture and it is far more serious than it sounds. Effective 1 April 2025, LHDN requires all companies and LLPs to submit supporting…
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Continue reading →: (TAX UPDATE) RM150,000 E-Invoice Threshold – Don’t Get Caught!
“My company earns less than RM150,000, no need for e-Invoice.”“I have a few sole proprietorships, each below RM150,000 – should be exempt.”“We’re just a small company in a big group, our revenue only RM90,000.” These are common misunderstandings and they’re wrong. Yes, LHDN gives e-Invoice exemption for businesses with annual…
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Continue reading →: (Tax Update) Malaysia Stamp Duty Overhaul: Part 8
IRB Waives Penalty for Late Stamping of Employment Contracts — Until 31 Dec 2025 Only IRB (LHDN) has confirmed a one-time penalty waiver for employers who late-stamp existing employment contracts. Just make sure it’s done by 31 December 2025. No extension will be given after this grace period. What Must…
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Continue reading →: The Hardest Call I Made Today … After 20 Years of Partnership
This morning, I made a phone call. Not to chase payment.Not to upsell service.But to say goodbye. My client — in his 70s now — has been with us for over 20 years.A humble Sdn Bhd.Business no longer active.Not making money. But for two decades, they filed their audit and…
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Continue reading →: (Tax Update) STAMP Your Agreement Online with LHDN’s STAMPS
LHDN fully digitised the stamping process via the STAMPS system — making physical stamping a thing of the past. Here’s how SMEs can stay compliant under the self-assessment regime: 1️⃣ Register for STAMPS:Visit https://lnkd.in/gg6h9WK9Apply as Individual or Company user. Prepare SSM, IC & authorisation letter (if applicable). 2️⃣ Log In…
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Continue reading →: Eh… If I Don’t Stamp, How Would IRB Know?”
A SME boss once asked me nervously, “Eh… if I don’t prepare employment contracts, how would LHDN know?”“What if I collect rental without stamping tenancy agreement?”“I lent RM200k to my brother’s company — no agreement. OK ah?” I smiled and replied,“Bro, IRB officers don’t live on trees anymore.” We laughed.…
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Continue reading →: (Tax Update) Malaysia Stamp Duty Overhaul – Part 5
(Tax Update) Malaysia Stamp Duty Overhaul – Part 5Employment Contracts Must Now Be Stamped (Effective 1 Jan 2025)Source: FMM & LHDNM Read the full content in our bloghttps://www.ktp.com.my/blog/stamp-act-malaysia-2024-part5/26may2025
KTP & Company PLT
Trusted audit and accounting firm established in 1999, specializing in providing tailored financial services to small and medium enterprises (SMEs) across Malaysia.
Hello,
I’m Koh Teck Peng
Welcome to my blog, I’m the founder and principal of KTP & Company PLT. My journey in the accounting profession has been driven by a passion for numbers and a dedication to helping businesses succeed. With over 25 years of experience, I’ve had the privilege of working with a wide range of clients, from small startups to large corporations, providing them with the financial insight and strategic guidance they need to thrive.
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