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11 Oct 24

YYC Tax Directors and Experts Share Their Wishlist for Malaysia’s National Budget 2025

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As Malaysia anticipates the announcement of the National Budget 2025, businesses and individuals are looking for key tax reforms that could support economic growth and alleviate financial pressures. We spoke to YYC’s leading tax experts to gather their insights on what they hope to see in the upcoming budget. From…

11 Oct 24

What to Expect from Budget 2025 Malaysia: A Focus on Economic Reforms and Social Welfare

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As Malaysia prepares for the unveiling of Budget 2025 Malaysia (Bajet 2025) on October 18, anticipation grows around the government’s fiscal plan and its potential impact on the nation’s economic trajectory. The budget 2025 Malaysia, set to align with the Ekonomi MADANI framework, aims to usher in sustainable economic reforms,…

Pre-Budget Statement: Belanjawan 2025 Malaysia

11 Oct 24

Pre-Budget Statement: What to Expect in Belanjawan 2025 Malaysia and Ekonomi Madani

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With Belanjawan 2025 Malaysia (Bajet 2025) slated for presentation on October 18, 2024, the Malaysian government is actively addressing key concerns surrounding the rising cost of living in Malaysia and accelerating economic reforms. The recently released Pre-Budget Statement (PBS) by the Ministry of Finance offers a glimpse into the government’s…

10 Oct 24

Solving Common e-invoicing Challenge Across Various Industrial Sectors in Malaysia

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With the gradual implementation of e-invoicing by the Inland Revenue Board of Malaysia / Lembaga Hasil Dalam Negeri (IRBM), businesses across the country are adapting to a digital invoicing system. This shift promises benefits such as improved efficiency and compliance but also presents several challenges. This article outlines common issues…

10 Oct 24

Essential Guide to e-invoicing: FAQs and Exemptions in Malaysia

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Malaysia is moving towards implementing e-invoicing to streamline invoicing processes, enhance tax compliance, and support the digital economy. This article provides a comprehensive overview of e-invoicing FAQs, exemptions, and technical aspects, helping Small and Medium Enterprises (SMEs) and Multinational Corporations (MNCs) prepare for this significant transition. Table of Contents Key…

August 19, 2024
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Do I need to pay withholding tax for digital advertising fee? If I did not make payment for withholding tax, is the advertising fee tax deductible? If you are paying the digital advertising fee to a non-resident for the usage of an application, then the digital advertising fee is subject…

August 19, 2024
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Do I need to prepare Form CP58 for a one-time commission? It depends on the amount of commission. If the payee receives more than RM5,000 in a calendar year from the company, then the company must prepare Form CP58 for that payee.

August 19, 2024
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Should I prepare Form CP58 to employees who receive commission? No, if the person receiving the commission is your employee, the company should fill in the commission amount in the employee’s EA form instead of Form CP58.

August 19, 2024
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Are the professional fees charged by tax agent on tax audit consultation and preparation of transfer pricing documents tax deductible? They are not tax deductible because they are not classified as tax filing fees.

YYC Tax Directors and Experts Share Their Wishlist for Malaysia’s National Budget 2025

What to Expect from Budget 2025 Malaysia: A Focus on Economic Reforms and Social Welfare

Pre-Budget Statement: What to Expect in Belanjawan 2025 Malaysia and Ekonomi Madani

Solving Common e-invoicing Challenge Across Various Industrial Sectors in Malaysia

Essential Guide to e-invoicing: FAQs and Exemptions in Malaysia

Do I need to pay withholding tax for digital advertising fee?If I did not make payment for withholding tax, is the advertising fee tax deductible?

Do I need to prepare Form CP58 for a one-time commission?

Should I prepare Form CP58 to employees who receive commission?

Are the professional fees charged by tax agent on tax audit consultation and preparation of transfer pricing documents tax deductible?

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