Working as a tax consultant in a Big 4

Ever since I have started working in KPMG Tax back in September 2018, I’ve gotten quite a fair bit of questions from my learned friends of legal background about working how is it like working in a professional service firm as opposed to working in a law firm. Joined with me in this write-up for… Continue reading Working as a tax consultant in a Big 4

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Case update: IRB’s right to apportion expenses

The general rule governing the deductibility of expenses is encapsulated under section 33(1) of the Income Tax Act 1967 (“the Act”) which reads (emphasis as highlighted): Therefore, the below conditions must be fulfilled (unless otherwise provided in the Act) to allow a deduction for an expense: The expenses must be wholly and exclusively incurred in… Continue reading Case update: IRB’s right to apportion expenses

Understanding RPGT 2: Real Property Companies

Following the previous post on Real Property Gains Tax (RPGT), this post aims to shed a spotlight on another field of transaction which will also attract RPGT- sale of shares in a Real Property Company (RPC). Generally, Malaysia does not charge any capital gains tax (neither does Malaysia have a CGT regime) on sale of… Continue reading Understanding RPGT 2: Real Property Companies

The differences between Income Tax Act, Public Rulings and PU order

Unknown to most, the Income Tax Act 1967 is not the only piece of document that has the force of law. When determining the deductibility of expenses and whether income from a certain source is subject to tax, tax consultants (me) would refer to several places and with reference to various other documents to make… Continue reading The differences between Income Tax Act, Public Rulings and PU order

Budget 2019 Malaysia for the Malaysian Millenials

Last Friday, 2 November 2018, marks the first national Budget by the new government ever since the independence of Malaysia. As much as this is a historic and monumental event it is, it is also a day which would affect 32 million people coupled with a balancing act to solve the growing national debt hence… Continue reading Budget 2019 Malaysia for the Malaysian Millenials