INFORMATION UPDATES

Goods and Services Tax (GST)

Goods and Services Tax (GST) Act 2014 has been gazette on 19 June 2014. The Act is essentially the same as the GST Bill 2014 (DR2/2014) with some amendments to the language of the provisions. GST Registration opened on 1 June 2014 and you are required to be registered before 31 December 2014.
Visit Customs GST official website

Download GST ACT 2014

Budget 2018

Budget 2018 was tabled by our Prime Minister Dato’Sri Najib Tun Razak in Parliament on 27 October 2017. Budget 2018, “Prospering an Inclusive Economy, Balancing Between Worldly and Hereafter, For The Wellbeing of The Rakyat, Towards The TN50 Aspiration”.

Download Budget 2018

Budget 2017

Budget 2017 was tabled by our Prime Minister Dato’Sri Najib Tun Razak in Parliament on 21 October 2016. Themed ‘Accelerating Growth, Ensuring Fiscal Prudence, Enhancing Well-being of the Rakyat’, the budget focuses on improving.

Highlights of The 2017 Budget and Finance Bill

Budget 2016

Budget 2016 Malaysia was tabled by Prime Minister and Minister of Finance Datuk Seri Najib Tun Razak at Parliament on 23 October 2015. Budget 2016, “PROSPERING THE RAKYAT” is the beginning of the final lap to transform the nation into a high-income economy. It aims to strike a balance between people, growth and business amidst the challenging economic environment and a tight budget of RM 267.2 billion. Budget 2016 outlining 5 priorities:

  • First: Strengthening Economic Resilience
  • Second: Increasing Productivity, Innovation and Green Technology
  • Third: Empowering Human Capital
  • Fourth: Advancing Bumiputera Agenda
  • Fifth: Easing Cost of Living of the Rakyat
Download Budget 2016

Accounting, Audit & Tax Compliance

Generally, the principal tax in Malaysia is income tax. Any further information or explanation is required, can refer to:

Website: HASIL.GOV.MY

Companies Act of Malaysia has required that every private limited company doing business in any parts of Malaysia must appoint an approved company auditor or audit firm for auditing its accounts and reporting to the members of the company annually. In other words, annual audit in Malaysia is mandatory for every private limited company doing business in Kuala Lumpur (KL) or any parts of Malaysia, regardless of the size of the company. More about information of audit can refer to:

Website: MIA.ORG.MY