Baker Tilly Penang

Business & Tax Information Booklet

We are pleased to release the latest version of our Business & Tax Information Booklet, updated with the new legislative proposals and measures following the 2025 Malaysian Budget announcement.

Click on the link below for your copy.
https://bit.ly/BakerTilly_2024_2025_BusinessTaxInformation

*Baker Tilly Malaysia | Tax Snaps*

Following the 2025 Budget announcement on 18 October 2024, the Finance Bill 2024 was made available for first reading at Parliament recently. This edition of TaxSnaps covers certain selected key proposed amendments to the Income Tax Act 1967 (“ITA”), which were not covered in our earlier edition of the 2025 Budget Highlights.

Read on: https://bit.ly/BakerTillyTaxSnap27Nov2024

Baker Tilly TaxSnaps - 2025 Budget.pdf

Baker Tilly Malaysia Tax & Budget Webinar.pdf

*Baker Tilly Malaysia | Tax & Budget Webinar*

The Malaysia Budget 2025 is set to be unveiled on 18 October 2024.  Do join us for our Baker Tilly Tax & Budget Webinar, co-hosted with Ambank Berhad, on *29 October 2024*.
 
Our Tax Specialists will be presenting pertinent highlights from the Budget 2025, as well as updates on various tax topics.  We are also pleased to have Mr Anand Raj, Partner at Shearn Delamore & Co., share with us his experience in handling Tax Disputes.
 
The webinar will conclude with a panel of subject-matter specialists, which will be moderated by Ms Melissa Ong, News Anchor and TV Host at BernamaTV.
 
Click on the link below for more information, and to register!
https://www.bakertilly.my/2024-baker-tilly-tax-budget-webinar

The Inland Revenue Board of Malaysia (“HASiL”) has issued the following on the e-Invoice webpage https://www.hasil.gov.my/en/e-invoice/ of its website:-

General Frequently Asked Questions (FAQ) on the implementation of e-Invoice in Malaysia updated on 4 October 2024 which replace the FAQ issued on 1 October 2024.
https://www.hasil.gov.my/media/0xqitc2t/lhdnm-e-invoice-general-faqs.pdf

The updates (highlighted in blue in the FAQ) are in relation to the mandatory implementation date, import/export of goods or services and e-Invoice for Micro, Small, and Medium Enterprises (MSME) (highlighted in blue).

In the meantime, Income Tax (Issuance of Electronic Invoice) Rules 2024 https://shorturl.at/hA1dm has been gazetted on 30 September 2024. A key highlight on the mandatory implementation for companies with annual sales in excess of RM 100million which is now prescribed as 1 October 2024.

e-Invoice Illustrative Guide https://www.hasil.gov.my/media/iawfa2eu/e-invoice-illustrative-guide.pdf

Wishing you a joy-filled Eid al-Adha! 🌙✨
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Wishing you a Selamat Hari Raya.
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*Baker Tilly Malaysia | Capital Gains Tax & "Economic Substance*

More CGT updates – IRBM has recently issued guidelines on gains from disposal of foreign capital assets.

Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_9Apr2024

*Baker Tilly Malaysia | ESG Strategies for Malaysian Businesses*

Join us on 4 April 2024 at 2pm for a complimentary webinar, where the speakers will touch on:
- the business value of embracing ESG
- assurance & tax incentives for ESG in Malaysia
- the benefits of reporting tools for sustainability goals.

Register here: https://bit.ly/4cdGJVf

*Baker Tilly Tax Snaps | CGT Updates*

More CGT updates - Income tax exemption order and CGT Guidelines have been issued recently.

Here’s what you need to know - https://bit.ly/BakerTillyTaxSnaps_12Mar2024

With the expansion in service tax scope and change in service tax rate, a hotline service has been established by the RMCD to assist taxpayers in understanding the service tax policy.

Wishing all our wonderful women who are making a difference everyday to the people around them, Happy International Women's Day.

#InspireInclusion
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*Baker Tilly TaxSnaps | Service Tax Updates*

Following the announcements made in conjunction with the 2024 Budget proposals on the increment of Service Tax rate and expansion of taxable services, the related gazette Orders were issued recently.

Read on https://bit.ly/BakerTillyTaxSnaps_28Feb_2024

Here’s to a year filled with the grace of the Dragon!

Wishing everyone prosperity and joy!
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We are proud to present the 8th Edition of our Illustrative Directors' Report and Financial Statements, Flying Colours Berhad, which aims to provide practical illustrations and guides on the presentation and disclosure requirements of MFRSs and the Companies Act 2016.

This year, in line with our ESG principles, instead of hard copies, we launched a digital copy of our Flying Colours Berhad.

We hope that the Illustrative Directors' Report and Financial Statements will continue to assist you in having a deeper understanding of the various financial reporting requirements.

You can download your copy here: https://www.bakertilly.my/flying-colours

Wishing you a Happy New Year! https://www.instagram.com/p/C1iabE1ykJn/?igsh=MXFyNDAxdHd0dGp3NA==
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Baker Tilly Malaysia wishes you Merry Christmas and Happy New Year! Have a great holiday.
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