Articles

Tax Implications of Entertainment Expenses

Entertainment expenses are a common topic of inquiry from clients, relatives, and acquaintances, each seeking clarity on their tax treatment. This article aims to address two frequently asked questions and delve into the intricacies of the tax treatment of entertainment expenditures. Question 1: Is Ang Pow an Entertainment Expense One…
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Understanding Imported Service Tax in Malaysia

Introduction: With effect from 1st January 2019, taxable service acquired by any person in Malaysia from any person who is outside Malaysia for the purpose of business will be subject to 6% imported service tax. This will include taxable services acquired by person not registered under sales and service tax.…
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Countdown to the Implementation of E-Invoicing in Malaysia

Introduction: Malaysia is gearing up for a major reform as it prepares to fully implement electronic invoicing. This initiative aims to align with the global trend of digital revolution and propel the country’s tax system towards a new milestone. The electronic invoicing system by the Inland Revenue Board of Malaysia…
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Overview of Transfer Pricing

Transfer pricing generally refers to the intercompany pricing arrangements for the transfer of goods, services, and intangibles between related or associated parties. In an ideal scenario, the transfer price should be the same as the prevailing market price. However, business transactions between associated parties may not always reflect the dynamics…
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