The rapid increase in the number of bankruptcy in Malaysia is of particular concern. According to the Malaysian Insolvency Department statistics, a total of 97,215 people were declared bankrupt between January 2012 and September 2016, with Selangor heading the list with 27,269 cases. As a result, the government introduced the Bankruptcy (Amendment) Bill 2016 ("the Bill") with the aim to curb such continuing increase. The Bill was tabled for its first reading on 21 November 2016 and was passed …

Khamis, 8 Disember 2016: Wong Tunk Hing, pengarah dan setiausaha syarikat Asiapura Lands Sdn Bhd telah didakwa di Mahkamah Sesyen Johor Bahru atas kesalahan membuat pernyataan palsu kepada Suruhanjaya Syarikat Malaysia (SSM) di bawah Seksyen 364(2) Akta Syarikat 1965 yang membawa hukuman penjara tidak melebihi 10 tahun atau denda tidak melebihi RM250,0000.00, jika sabit kesalahan.

Wong Tunk Hing didakwa membuat pernyataan palsu di dalam Borang 48E bertarikh 23 November 2009 berkaitan …

KUALA LUMPUR: Discounts will be given to companies that have received notices from the Companies Commission of Malaysia (CCM) for various offences.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainudin said those who came forward to pay the compounds as early as possible will be given discounts of up to 80%.

He said the discounts would be gradually reduced every month.

"If you come forward to settle your compound this month, you will be given a discount of 80%. …

For annual turnover below RM5.0 million:

Year End

1st Taxable period

Due date

2nd Taxable period

Due date

January

01-04-15

31-05-15

01-05-15 to 31-07-15

31-08-15

February

01-04-15 to 31-05-15

30-06-15

01-06-15 to 31-08-15

30-09-15

March

01-04-15 to 30-06-15

31-07-15

01-07-15 to 30-09-15

31-10-15

April

01-04-15

31-05-15

01-05-15 to 30-07-15

31-08-15

May

01-04-15 to 31-05-15

30-06-15

01-06-15 to 31-08-15

30-09-15

June

01- …

BLOCKED INPUT TAX

 190. Input tax incurred by a taxable person in respect of the following supplies shall be excluded from any credit under GST:-

       (a)    the supply to or importation by him of a passenger motor car;

       (b)   the supply of goods or services relating to repair, maintenance and refurbishment of a passenger motor car;

       (c)    …

PETALING JAYA: Maintenance fees for residential stratified properties will be exempted from the Goods and Services tax (GST), said Datuk Ahmad Maslan.

The Deputy Finance Minister said the exemption covered all forms of residential stratified property, including low-cost housing projects, apartments and condominiums.

"The decision was made after taking into account that the maintenance services are not meant to make excessive profits," he told reports after attending a briefing on the GST, the …

With the extended GST registration deadline looming in, the Customs director-general Datuk Seri Khazali Ahmad has pointed to the unregistered companies to register for GST before 28 February 2015 or be prepare to pay RM15,000 in compound. He also mentioned that till date, there are more than 60,000 companies are yet to register for GST.

Meanwhile, for companies that does not register within the extended deadline, they will face a compound of RM15,000 and will be force registered for GST. The …

With the GST to be implemented in 1 April 2015, the Malaysian Institute of Estate Agents (MIEA) President Siva Shanker has highlighted that there is no clear guidance or analysis on how property prices are going to be affected in the secondary market. This is a crucial for the investment community and there are many unanswered questions, he added.

Meanwhile, KP Bose Sdn Bhd tax consultant KP Bose Dasan has mentioned that guidelines from the customs has not taken into account on the …