Malaysia Taxation Junior Diary

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12/09/2014

How GST Affect Your Business - Mandatory Registration

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Public Rulings

Budget Commentory

Budget speech （over the year）

Income Tax Act 1965 (Act 53)

Goods and Service Tax Act 2014 (Act 762)

e-Federal Gazatte

List of Malaysian Law (Acts) / Senarai Akta-akta Malaysia

Corporate Tax Compliance Form & Guidebook

Individual Form & Guidebook

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Inland Revenue Board of Malaysia

Malaysia Goods & Service Tax (GST)

Ministry of Finance

Content

Diary content:-

on GST for laymen:-

A0. What is GST? (for layman)

A1. Scope of GST

A1.1.Meaning of "Supply" in GST

A1.2 First gazetted GST exempt list of supplies

A1.3 First gazetted GST zero rated list of supplies

A2. To consumer

A3. To entrepreneur (sole proprietorship owner)

A4. To businesses (organization)

B0. Who is liable to be register?

B1. Historical method - Documents required for registration

B2. Future method - Steps and documents required for registration

B3. How to register - Registration online step by step

C0. Responsibility for registered person (submit tax return) - Prescribed Accounting Period

D0. Tax return

D1. Prescribed Accounting Period

D2.Types of supplies

D2.1.Taxable Supplies

D2.1.1Standard Rated

D2.1.2.Zero Rated

D2.2Exempt Supplies

D3. Time of supply

D4. Importation/exportation – Reverse mechanism

D5. Designated areas

D6. Approved accounting software

E0. End topic: Actions you need to prepare for GST implementation

E1. For consumer

E2. For entrepreneur (sole proprietorship owner)

E3. For businesses

[Note: I beg you apologize for content without link, as it may need some time to process, sorry for inconvenient. It is appreciated if you could also contribute some efforts to complete this blog content, Thanks in advance.]

on Income Tax Compliances Topic:-

1.Starting words
2.Analysis of tax officer activities time table
3.Corporate Tax Time Line
4.Estimation of Tax Payable (CP 204)
4.1.Late Furnish of CP204
4.2.Change In Accounting Period
5.Revise Estimation of Tax Payable (CP204A)
6.Installment Payment (CP 207)
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7. Badges of Trade
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8.Tax Return
8.1.Tax Return (For Corporate Taxation)
~Different Between Submitted Form & Form in Approval Letter
~Payments to settle tax payable after tax return fillings
8.1.1 General Adjusted Income (Sec 33)
[Section 33. Adjusted income generally]
- Income Statement Type Eg
1) Non income producing - (dormant/ inactive)
2) Investment holding - (charge under 60F/ 60FA)
3) Business income generate unit - (common case)

8.1.2 Step 3 Further Info Request (or so call tax queries)
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9. Tax Return (For Individual Cases) - Resident status
9.1.Resident without Business income (Form BE/e-BE)
9.1.1 Step 1. Reminder of request info

9.1.1 A.Income related documents

9.1.1.B.Rebate related documents

9.1.1.C. Relief related documents

9.1.1.D. Tax remited related documents

9.1.1.E. Sample list of Information needed for Individual.

9.1.2 Step 3. Draft tax computations

9.2 Capital Allowance Schedulers

9.3 Residual Individual Cases with business income (Form – B/e-B)

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JsonDiary on Transfer Pricing (2003)
D.Prifit Split Method

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10. JsonDiary on IRBM Transfer Pricing Guideline 2012

10.1 IRBM TRANSFER PRICING GUIDELINES 2012 SUMMARY

10.2 Scope of guideline applied

10.3.1 Arm’s Length Principle - Terminology

10.3.2 Arm’s length price determination process

10.4 Comparability Analysis(Qualitative Presentation)

10.5 Malaysia Taxation: Transfer Pricing Methodologies for Transfer Pricing 2012

Traditional Method

10.5.1 Comparable uncontrolled price method (CUP)

10.5.2 Resale price method (RPM)

10.5.3 Cost plus method (CPM)

Transactional Profit Method

10.5.4 Transactional Profit Method (TPM) /Profit split method

10.5.5 Transactional net margin method (TNMM)

10.6 Comparability Analysis(Qualitative Presentation)

10.7 Intragroup Services

10.8 Intangible Properties

10.9 Intragroup Financing

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11. Real Property Gain Tax
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12. - Audit working papers information required for tax purposes

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