Tuesday, October 23, 2012

Budget 2003 - Increase in Tax Relief for amount deposited into SSPN

Previously is RM3,000.00 but starting from 2012 until 2017, the tax relief be increased to RM6,000.00.

Budget 2003 - Reduction in Income Tax Rates for Residents

Presently, Tax Rates calculated based on scale rates ranging from 0% to 26%, effective from 2003 the tax rates reduced by 1% for chargeable income bands from RM2,501.00 to RM50,000.00.

Wednesday, June 17, 2009

OFFENCES AND PENALTY

Under Section 112 Failure to return or give notice of chargeability.

112(1) Penalty for default ; Any person who makes default in furnishing a return in accordance with section 77(1), if he does so without reasonable excuse, be guilty of an offence and shall, on conviction, be liable to a fine of not less than two hundred ringgit and not more than two thousand ringgit or to imprisonment for a term not exceeding six months or to both.

112(2) Burden of proof on accused ; In any prosecution under subsection (1) the burden of proving that a return has been made or notice given shall be upon the accused person.

112(2A) Court order ; Where a person has been convicted of an offence under subsection (1), the court may take a further order that the person shall comply with the relevant provision of this Act under which the offence has been committed within thirty days, or such other period as the court deems fit, from the date the order is made.

112(3) Penalty for default where no presecution ; Where in relation to a year of assessment a person makes default in furnishing a return in accordance with section 77(1) or 77A(1) or in giving a notice in accordance with section 77(3) and no prosecution under subsection (1) has been instituted in relation to that default.
a) the Director General may require that person to pay penalty equal to treble the amount of the tax which, before any set-off, repayment or relief under this Act, is payable for that year: and
b) if that person pays that penalty (or, where the penalty is abated or remitted under section 124(3), so much, if any, of the penalty as has not been abated or remitted), he shall not be liable to be charged on the same facts with an offence under subsection (1).

Tuesday, June 16, 2009

Inland Revenue Penalty - Subseksyen 112(3)


Penalty on Late submission on tax for company

Wednesday, June 10, 2009

Compound By CCM on Seksyen 143(1) & Seksyen 165(4) - Failed to Held Annual General Meeting

Penalty by CCM for company who failed to held Annual General Meeting - AGM

Tuesday, June 9, 2009

Penalty by CCM under 169(1) - Late Submission of Account

Just image the company late submission on account from Year 2002 till Year 2008 if one year the company has to pay RM1000. This is the problem occurs when you ignore your duties.

Monday, June 8, 2009

CORPORATE CONSULTANT APPLICATION FOR MALAYSIA MY SECOND HOME PROGRAMME

1. TERMS OF REFERENCE

i) To prepare the application and compile all relevant documents to be furnished and submitting the same to the relevant authorities.
ii) To follow-up and liaise with the Malaysian authorities and co-ordinate any other information or explanations as may be required by them with a view to obtaining their approval for this application.
iii) To act as your sponsor with regards to your application.


2. APPROXIMATE PERIOD OF APPROVAL

The authorities require about ten (10) weeks to process, provided the application is not subject to call for additional information, clarification, correction or query by the approving authority. However, every effort shall be made to obtain the approval as expeditiously as possible.


3. DOCUMENTS AND OTHER INFORMATION

The documents required and other relevant information are set out bellow,
a. A copy of resume by the main applicant which includes the following information;
* Academic Qualification
* Working Experience
* Skills or expertise acquired
* Present and correspondent address
* Sources of income and the value of monthly income

b. Four (4) coloured passport size photographs

c. Copy of Passport/Travel documents (all pages including blank pages) with certification on the pages with personal particulars.
Note : Copy of previous passport is required if applicant/dependent(s) has renewed his/her passport within the last twelve (12) months.

d. Letter of Good Conduct from applicant’s related government agency

e. Certified copy of Marriage Certificate (if accompanied by spouse)

f. Certified copy of Birth Certificate/legal documents (if accompanied by children or parents
above 60 years of age)

g. Certified copy (s) of latest 3 months bank statements/other related financial capability to
support stay in Malaysia showing a balance of not less than RM500,000.00

h. Latest 3 months certified copies of pay slip/income statement (If employed) or pension slip
etc. show that applicant has a revenue of at least RM10,000.00 per month (if available)

i. Details including address of applicant’s banker.

j. Academic certificates and testimonies (if any).

k. Statement on how applicant would support stay in Malaysia.

l. Statement of why you wish to participate in this programme.


4. FEES

Our fee for applying, liaising and co-ordinating until such time that the approval is obtained shall be RM ? for an individual or a couple. The said fee includes service tax at 5% and any out of pocket expenses which are to be reimbursed. Should you want to bring in a maid, then a separate application needs to be made to procure a work permit. An additional fee of RM ? is payable for procuring the work permit.

Should for any reason our application be rejected, an abortive fee of RM? plus service tax at 5% and out of pocket expenses shall be payable to cover our cost.

5. CONCLUSION

We must emphasize that we are not in a position to commit ourselves to guarantee that the application will be approved. Our acceptance of the engagement is strictly based on our experience, contact and preceding cases that we have handled. As the norm, jobs assigned to us will be conducted to the best of our ability, in good faith and in accordance with our experience and contacts. Past cases handled by us where applications were not in conflict with government policies or the laws have been successful.

Thanks LINDA 012-7475227