Accounting

MOF Explainer on Service Tax Exemption for Aircraft and Ship Leasing

The finance ministry exempted aircraft and ship leasing from the 8% service tax to prevent owners from registering abroad and…

10 months ago

High-Income Earners Contributed 86% of Malaysia’s RM37.77b Income Tax in 2023

High-income earners contributed significantly to Malaysia's 2023 income tax revenue, prompting government efforts to enhance tax administration.

10 months ago

Rafizi Warns GST Return Would Hit Low-Income Families, Drive Inflation

Rafizi Ramli warns that reinstating GST will burden low-income families and increase inflation, advocating for wage reforms before any tax…

10 months ago

Hartalega Faces RM101mil Additional Tax Bill from IRB

Hartalega NGC has received RM101.36 million in tax assessments from the IRB for 2017 to 2022 and is considering legal…

11 months ago

High value added tax kicked out

Prime Minister Anwar Ibrahim announced the HVGT won't be implemented, integrating its concept into revised sales tax rates for luxury…

11 months ago

Malaysia’s Federal Debt Rises to RM1.3 Trillion While Government Pledges Fiscal Reforms

Malaysia's federal government debt increased to RM1.3 trillion by March 2025, with new fiscal reforms to ensure responsible borrowing.

11 months ago

Lee Lam Thye: Act Now on Auditor-General’s Report or Risk Normalising Mismanagement

Tan Sri Lee Lam Thye urges action against financial mismanagement in Malaysia’s public sector, calling for accountability, enhanced audits, and…

11 months ago

Shopping Mall Operators Urge SST Review Amid Rising Costs

The Malaysia Shopping Malls Association urges government tax reviews to mitigate rising operational costs, ensuring sustainability and job preservation.

11 months ago

Auditor General Flags Felcra, UKM, and Army Vehicle Deals for RM570m Governance Failures and Violations

The Auditor General's Report revealed significant financial misconduct in three Malaysian government entities, highlighting governance failures and procedural violations.

11 months ago

PH MPs Urge Selangor to Delay Parking Privatisation, Cite Public Interest Concerns

Four Pakatan Harapan MPs request delaying the Selangor parking privatisation scheme citing legal concerns and prioritizing private interests.

11 months ago

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