YA 2022 individual tax relief claims summary
Some amendments in tax reliefs have been made for YA 2022, and there are new additions introduced too. Claiming these incentives can help you lower your tax rate and pay less in overall taxes.
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A snapshot of what’s happenings that is important for you and your business.
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Return Form Filing Programme for 2023 can now be accessed via HASiL portal
The Inland Revenue Board (IRB) Return Form (RF) Filing Programme for 2022 is now available on HASiL official portal as a reference for taxpayers to submit their return form.
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Bank Negara surprises market, maintains OPR at 2.75%
Bank Negara’s Monetary Policy Committee (MPC) surprised the market by maintaining the overnight policy rate (OPR) at 2.75%.
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Putrajaya eases rules on the hiring of foreign workers
Employers will now be allowed to bring in foreign workforce from 15 source countries based on their capability and need, without needing to fulfil the previously imposed conditions for hiring and quot…
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New tax: From April 2023, Malaysians to pay extra 10pc for online overseas shopping below RM500
A 10% sales tax will be imposed on ‘low-value goods’ priced less than RM500 which are sold online and delivered from overseas to customers in Malaysia.
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AdrianYeo wishing you Happy Chinese New Year
Ushering in the Year of the Rabbit with our annual CNY celebration with the team. AdrianYeo wishing everyone longevity, peace, and prosperity in this new Rabbit year. Gong Xi Fa Cai!
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Budget 2023: Income tax cut by two percentage points for RM50,000-RM100,000 taxable range
The personal taxation rate will be reduced by two percentage points on taxable income ranging from RM50,000 to RM100,000 for domiciled individuals.
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Report: IRB blacklists 186,346 from international travel over RM12.9b tax arrears
KUALA LUMPUR, Sept 13 — A total of 186,346 individuals have reportedly been blacklisted from international travel for failing to pay income tax, real estate tax or corporate tax involving RM12.9 billi…
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When the global minimum corporate tax takes effect in 2023 …
MALAYSIA has agreed to participate in implementing the global minimum corporate tax of 15% from 2023. This will only apply to the large multinational enterprises (MNE) and Malaysian conglomerates whos…
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Time to reassess financing needs
Businesses will have to reassess their financing needs to accommodate rising demand following the relaxation of restrictions as Malaysia shifts to endemicity. Bank Islam Malaysia Bhd chief economi…
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Funding for cooperatives to help enhance food production, reduce rising prices
The government will allocate RM100 million from Bank Negara Malaysia's Agrofood (funding) Facility to the Malaysia Co-operative Societies Commission (MCSC) to raise food production and help reduce the…
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MyDigitalWorkforce Work in Tech (MYWiT)
Accelerate your hiring for Local Digital Talents Now! The government of Malaysia is providing Training & Salary Incentive for companies and investors to hire and train local digital talents to expand …
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JaminKerja Program – Employment Incentives
JaminKerja Program – Employment Incentives is a financial incentive given to employers who make new hires from 1 January 2022 among apprentices, graduates, vulnerable groups including the disabled, ex…
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New Minimum Wages Order effective 1 May 2022; employers with less than 5 employees exempted
The Minimum Wages Order 2022 (“the Order”) was gazetted on 27 April 2022. The Order, pursuant to section 23 of the National Wages Consultative Council Act 2011, increases the minimum wage nationwide t…
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Malaysian Banks to face tightening in funding conditions in 2022
KUALA LUMPUR: Malaysian banks are expected to face some tightening in funding conditions in 2022, said Bank Negara Malaysia (BNM).
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RM40b Semarak Niaga programme to increase financing access for business sector — PM
KUALA LUMPUR: The RM40 billion Semarak Niaga Keluarga Malaysia Programme launched on Monday (Feb 21) will increase the business sector’s access to financing, especially for micro, small and medium ent…
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BNM establishes new financing facilities under its Fund for SMEs
KUALA LUMPUR – As announced during the Budget 2022 speech by the Minister of Finance, Bank Negara Malaysia (BNM) will introduce two new facilities under BNM’s Fund for SMEs. Applications to these faci…