Happy Malaysia Independence Day!
🇲🇾 Selamat Hari Merdeka, Malaysia! 🇲🇾 As we celebrate 67 years of independence, let’s reflect on the journey that has shaped our beautiful nation. From the unity in diversity to
Mandatory Bursa Malaysia Reporting System (MBRS)
SSM will enforce the MBRS as mandatory by the fourth quarter of 2024. This digital platform is intended to streamline the submission of statutory documents, including beneficial ownership information. Companies
Extension Of Deadline For Beneficial Ownership Information Submission To 30 September 2024
The Companies Commission of Malaysia (SSM) has extended the deadline for submitting beneficial ownership information from the original date of June 30, 2024, to September 30, 2024. This gives companies
Implementation of e-Invoice system in Malaysia
The Inland Revenue Board of Malaysia (LHDN) has recently announced significant updates regarding the implementation of the e-Invoice system, which will be mandatory for businesses in Malaysia. Starting from August
Improvements to the e-SPC function:Amendments and Additions
Starting from July 27, 2024, employers can use the e-SPC function for amendments to applications and reporting additional remuneration. Employers are allowed to amend submitted e-SPC applications, but only if
Benefits in Kind (MBB)
MBB refers to non-cash benefits provided by employers to employees that are taxable. According to the Income Tax Act 1967, the value of MBB is included in the employee’s income
Guidelines on e-Invoice system
The Government plans to introduce e-Invoices gradually to improve tax management and support the digital economy. This aligns with the Twelfth Malaysia Plan, which focuses on strengthening digital services and
Amendments to the Companies Act 2024
The Companies Act has been updated to include new regulations regarding beneficial ownership reporting. These changes require companies to lodge beneficial ownership information through the e-BOS (Electronic Beneficial Ownership System)
