Beyond Compliance, Grow Sustainably.
Beyond Compliance, Grow Sustainably.
On 6 June 2023, The Securities Commission Malaysia (“SC”) and Bursa Malaysia had announced the roll out of a new mandatory onboarding programme on sustainability for members of Boards of Directors of Public Listed Companies (“PLCs”) in the Main Market…
You have been hearing from LHDNM, us, and many others telling you that proper TP documentation is crucial, and must be produced in a timely fashion (during the related party transaction). The thing is TP documentation is not easy to…
By Mr. Lam Kwai Soon, COO & Tax Managing Director, Cheng & Co Group of Companies Understanding the Special Voluntary Disclosure Programme 2.0 (SVDP 2.0) On 24 February 2023, the finance minister, Datuk Seri Anwar Ibrahim announced that Malaysia will…
Like EPF contributions and MTD, Employers are also obliged to make deductions for SOCSO and EIS contributions on behalf of employees, in addition to making a small contribution to the employees’ accounts out of employers’ pocket. SOCSO and EIS are…
EPF is a savings fund that private sector employees and employers in Malaysia are obliged to contribute monthly. Although employees’ contribution comes from their salaries, it is actually the responsibility of employers to make the deductions from employees’ and remit…
Before monthly tax deduction (MTD) was introduced, it was the responsibility of employees to ensure that, whenever due, income tax is paid from their employment income. When MTD was introduced, as far employment income is concerned, it became the employers’…
Employment Act 1955 (Act 265) specifies the way in which one can calculate one’s ordinary rate of pay, and also that rate of pay for work done outside of normal hours of work. Normal hours of work can be said…
Payroll documentation serves as sources for the figures used in payroll calculations. Even if you were to outsource your payroll processing, you still need to maintain payroll documentation for each employee, and provide them to your payroll services vendor for…
Many of you are in business, and your goal is to always maintain a great bottom line for your company. Unless your business is a one-person show, you must have employees to help you make that great bottom line. In…