As we approach tax season, many business owners and finance teams ask: “Can we deduct tax agent and statutory filing fees in the current year of assessment?” Let’s clear up the confusion. Tax Deduction Rule: “Incurred Basis” Applies Under Malaysian tax law, expenses are only deductible when they are incurred — not when they relate… Continue reading When to Claim Tax Agent & Statutory Filing Fees: Avoid Common Mistakes in YA 2024
Category: Information
Understanding Tax Treatment for Specialist Doctors in Private Hospitals-IRBM Guidelines
The Inland Revenue Board of Malaysia (IRBM) has issued specific guidance on how income earned by Specialist Doctors in private hospitals should be taxed. According to the IRBM Guidelines dated 16 March 2022, titled “Garis Panduan Layanan Cukai Ke Atas Pendapatan Pengamal Perubatan (Doktor Pakar) Di Hospital Swasta Sama Ada Ditaksir Di Bawah Individu Atau… Continue reading Understanding Tax Treatment for Specialist Doctors in Private Hospitals-IRBM Guidelines
Understanding Tax Penalties in Malaysia: A Comprehensive Guide
In Malaysia, the Inland Revenue Board (LHDN) enforces strict tax compliance to ensure the integrity of the national tax system. Non-compliance with tax obligations can lead to significant penalties, including fines, imprisonment, or both. This guide outlines the various tax offences and corresponding penalties to help taxpayers stay informed and compliant. 1. Failure to Furnish… Continue reading Understanding Tax Penalties in Malaysia: A Comprehensive Guide
SSM’s Extension of Time (EOT)
As a business owner in Malaysia, it’s crucial to be aware of the compliance requirements set by the Companies Commission of Malaysia (SSM). One such requirement involves the timely circulation and lodgement of your company’s financial statements. However, unforeseen circumstances might necessitate additional time. In such cases, SSM provides an avenue known as the Extension… Continue reading SSM’s Extension of Time (EOT)
🛡️New Policy on Releasing Statutory Documents to Auditors
Protecting Your Company’s Confidential Data At Boss Boleh, we are committed to protecting our clients’ information while supporting their compliance needs. In light of recent fraud attempts involving individuals impersonating auditors to obtain sensitive documents, we have introduced a new policy to strengthen the way we release statutory documents to auditors. 🔐 What’s New? Effective… Continue reading 🛡️New Policy on Releasing Statutory Documents to Auditors
Do you still need a Constitution if you have a Shareholders ‘Agreement?
Key Differences & Why You Might Still Need a Constitution Aspect Shareholders’ Agreement Constitution Legal Binding Only between shareholders who signed Legally binds company, directors, and all shareholders Public vs. Private Private, not required to be lodged with SSM Public, accessible under SSM Flexibility Can be changed by agreement of signing parties Requires special resolution… Continue reading Do you still need a Constitution if you have a Shareholders ‘Agreement?
Malaysia Sick & Medical Leave
Medical Leave vs Sick Leave: What’s the Difference? While often used interchangeably, sick leave typically refers to time off due to minor illnesses, while medical leave can include more serious health issues requiring extended recovery or hospitalisation.
In Malaysia, the Employment Act combines both under paid sick leave provisions, with additional entitlement for hospitalisation leave up to 60 days a year, including the ordinary sick leave allocation. A valid medical certificate is required for both.
Annual Leave in Malaysia: 8 Days or 14 Days? Know Your Rights
Confused about how many days of annual leave you’re entitled to in Malaysia? Whether you’re a new hire or a seasoned employee, this guide breaks down the legal minimum, how leave is calculated, and what many companies are actually offering today (hint: it’s more than 8 days 👀).
We also cover prorated leave, carry-forward rules, and what’s changed under the latest amendments to the Employment Act.
Ready to find out where you stand?
Read the full article and make sure you’re getting what you deserve.
How to Set Up Logistics Company in Malaysia
Malaysia is a prime logistics hub in Southeast Asia, offering excellent infrastructure and strategic advantages for entrepreneurs. If you’re looking to start a logistics company in Malaysia, this guide covers the essential steps and key industry insights to help you get started
Angie Ng Pey Hiong, Founder of Boss Boleh Sdn Bhd, Malaysia, was honored with the “Founder of the Year Award” at the ASEAN Startup Awards!
Ng Pey Hiong, Founder of Boss Boleh Sdn Bhd, Malaysia, was honored with the “Founder of the Year Award” at the ASEAN Startup Awards! The recently announced ASEAN Startup Awards recognizes the most impactful and innovative businesses in the 10 ASEAN countries. Boss Boleh Founder Honored with “Founder of the Year” Award A number of… Continue reading Angie Ng Pey Hiong, Founder of Boss Boleh Sdn Bhd, Malaysia, was honored with the “Founder of the Year Award” at the ASEAN Startup Awards!