http://clips.thestar.com.my.s3.amazonaws.com/clips/news/2015/apr/AlifefromApril1GSTnew.jpg
More from link of contacts and information directly from: http://clips.thestar.com.my.s3.amazonaws.com/clips/news/2015/apr/GSThelpdesk.pdf
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Wednesday, April 1, 2015
GST life as of 1 April 2015 - Malaysia
http://clips.thestar.com.my.s3.amazonaws.com/clips/news/2015/apr/AlifefromApril1GSTnew.jpg
More from link of contacts and information directly from: http://clips.thestar.com.my.s3.amazonaws.com/clips/news/2015/apr/GSThelpdesk.pdf
Wednesday, February 4, 2015
GST Effective 1 April 2015 (Malaysia)
GST is going to start on 1 April 2015, and this is calculate based on Government but not sure whether it is how it will be, we shall see then.
http://www.thestar.com.my/News/Nation/2015/02/04/Dont-fall-for-gimmicks/
Here is the list of goods which include GST of 6% or exempted:
http://gst.customs.gov.my/en/cp/SiteAssets/GST%20List%20of%20Sundry%20Goods%20(15%20JAN%202015).pdf
http://www.thestar.com.my/News/Nation/2015/02/04/Dont-fall-for-gimmicks/
Here is the list of goods which include GST of 6% or exempted:
http://gst.customs.gov.my/en/cp/SiteAssets/GST%20List%20of%20Sundry%20Goods%20(15%20JAN%202015).pdf
Tuesday, August 26, 2014
IRB Tax evader barred leaving Malaysia till unpaid tax are paid
The IRB is on the hunt. Tax evaders – even those owing as little as RM200 – are being barred from leaving the country until they have paid their dues.
The officers have been very busy in the last few months. This year alone, the IRB has successfully recovered RM8.37mil (RM8,378,871.48) from those who had been planning to leave the country.
The IRB has engaged the support of the Immigration Department to enforce the travel “blacklist”.
“Whether the purpose of leaving Malaysia is for leisure, business or migration, the no exit order will apply to all tax offenders,” IRB corporate communications director Nor Azirah Mohd Said told The Star.
“The law explicitly says the IRB director-general may issue to any Commissioner of Police or Director of Immigration a certificate containing particulars of the tax, sums and debts so payable with a request for that person to be prevented from leaving Malaysia unless and until he pays up,” she said.
The authority to issue a stoppage order, or to blacklist a tax defaulter from leaving the country, is granted to the IRB under Section 104 of the Income Tax Act 1967 (Act 53).
The law allowing the IRB to do this has been in the books since 1967 but active enforcement has only been done in recent months.
Nor Azirah gave an assurance that tax offenders would not be held in detention at Immigration checkpoints but if the offender wished to continue on his or her journey, the person is expected to pay all liabilities.
Income tax from qualified citizens forms a substantial portion of the country’s income, with the amount being on the increase every year.
The IRB is chasing after 97,343 defaulters to get them to settle an accumulated unpaid tax totalling a staggering RM2.88bil (RM2,886,891,630.59). This year, 8,332 new names were added, with cumulative unpaid taxes totalling RM162.97mil (RM162,971,207.33).
Offences under a tax gap may occur in several forms, including non-payment or a deliberate avoidance of tax, as well as a false declaration of income tax returns which results in an under-payment of taxes.
Under the Act, any person who is found guilty of failing to furnish an income tax return may be liable to a fine of between RM200 and RM2,000 or a jail term not exceeding six months or both.
Any person who makes an incorrect return by omitting or understating income received may be brought to court and, upon conviction, be liable to a fine of between RM1,000 and RM10,000.
The offender may also be liable to pay a special penalty of double the amount of undercharged ta
Future Links for reading:
http://www.thestar.com.my/News/Nation/2014/08/26/IRB-on-the-hunt-at-exit-points-Tax-evaders-barred-from-leaving-country-until-they-pay-up/
http://www.thestar.com.my/News/Nation/2014/08/26/Tax-defaulters-get-a-rude-awakening-at-the-airport/
The officers have been very busy in the last few months. This year alone, the IRB has successfully recovered RM8.37mil (RM8,378,871.48) from those who had been planning to leave the country.
The IRB has engaged the support of the Immigration Department to enforce the travel “blacklist”.
“Whether the purpose of leaving Malaysia is for leisure, business or migration, the no exit order will apply to all tax offenders,” IRB corporate communications director Nor Azirah Mohd Said told The Star.
“The law explicitly says the IRB director-general may issue to any Commissioner of Police or Director of Immigration a certificate containing particulars of the tax, sums and debts so payable with a request for that person to be prevented from leaving Malaysia unless and until he pays up,” she said.
The authority to issue a stoppage order, or to blacklist a tax defaulter from leaving the country, is granted to the IRB under Section 104 of the Income Tax Act 1967 (Act 53).
The law allowing the IRB to do this has been in the books since 1967 but active enforcement has only been done in recent months.
Nor Azirah gave an assurance that tax offenders would not be held in detention at Immigration checkpoints but if the offender wished to continue on his or her journey, the person is expected to pay all liabilities.
Income tax from qualified citizens forms a substantial portion of the country’s income, with the amount being on the increase every year.
The IRB is chasing after 97,343 defaulters to get them to settle an accumulated unpaid tax totalling a staggering RM2.88bil (RM2,886,891,630.59). This year, 8,332 new names were added, with cumulative unpaid taxes totalling RM162.97mil (RM162,971,207.33).
Offences under a tax gap may occur in several forms, including non-payment or a deliberate avoidance of tax, as well as a false declaration of income tax returns which results in an under-payment of taxes.
Under the Act, any person who is found guilty of failing to furnish an income tax return may be liable to a fine of between RM200 and RM2,000 or a jail term not exceeding six months or both.
Any person who makes an incorrect return by omitting or understating income received may be brought to court and, upon conviction, be liable to a fine of between RM1,000 and RM10,000.
The offender may also be liable to pay a special penalty of double the amount of undercharged ta
Future Links for reading:
http://www.thestar.com.my/News/Nation/2014/08/26/IRB-on-the-hunt-at-exit-points-Tax-evaders-barred-from-leaving-country-until-they-pay-up/
http://www.thestar.com.my/News/Nation/2014/08/26/Tax-defaulters-get-a-rude-awakening-at-the-airport/
Thursday, November 28, 2013
Hiking cost without any limit now and more to come? Be prepared bravely as it is non stopable now
All utilities fees are hiking unexpected high, they blame on raw material cost and inflation cost increasing...now everyone must fork out additional expenses and it is a burden to all the citizen.
1] DBKL’s revised Property Valuation notice sent out to owners in mid November will remain unchanged and notice of the assessment rates based on the new valuation will go out in January as required by DBKL by-laws.
Mine has increased to 47% in the property valuation and wondering whether any "revision" on the assessment RATE% will also hike up. Then we might fork out additional expenses and it is a burden to all the citizen.
Link 1; Link 2; Link 3
2] GST 6% to be implement by April 1 2015
Link 1; Link 2; Link 3 ; Link 4
3] Electricity Tariff has hike up @ Jan 1 2014
The new rates, which will take effect on Jan 1 2014, the average electricity tariff in Peninsular Malaysia will increase 4.99 sen/kWh or 14.89% next year from 33.54 sen per kilowatt-hour (kWh) to 38.53 sen/kWh
Link 1 ; Link 2
3] Petrol has increased 20 sens for RON 95 and diesel @ 03 Sept 2013
Link 1 ; Link 2
4] Sugar price has increased from RM 2.50 to RM 2.84 per KG.
http://www.thestar.com.my/News/Nation/2013/10/25/Budget-2014-reax-GST-sugar.aspx
5) Government servant salary increased unreasonable high %
What's next? Forever increasing cost on other daily goods and utilities. Bleeding through the nose already. Eventually there will be bigger gap between low and high middle class people in the country
1] DBKL’s revised Property Valuation notice sent out to owners in mid November will remain unchanged and notice of the assessment rates based on the new valuation will go out in January as required by DBKL by-laws.
Mine has increased to 47% in the property valuation and wondering whether any "revision" on the assessment RATE% will also hike up. Then we might fork out additional expenses and it is a burden to all the citizen.
Link 1; Link 2; Link 3
2] GST 6% to be implement by April 1 2015
Link 1; Link 2; Link 3 ; Link 4
3] Electricity Tariff has hike up @ Jan 1 2014
The new rates, which will take effect on Jan 1 2014, the average electricity tariff in Peninsular Malaysia will increase 4.99 sen/kWh or 14.89% next year from 33.54 sen per kilowatt-hour (kWh) to 38.53 sen/kWh
Link 1 ; Link 2
3] Petrol has increased 20 sens for RON 95 and diesel @ 03 Sept 2013
Link 1 ; Link 2
4] Sugar price has increased from RM 2.50 to RM 2.84 per KG.
http://www.thestar.com.my/News/Nation/2013/10/25/Budget-2014-reax-GST-sugar.aspx
5) Government servant salary increased unreasonable high %
What's next? Forever increasing cost on other daily goods and utilities. Bleeding through the nose already. Eventually there will be bigger gap between low and high middle class people in the country
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