Legal Aspects of E-Commerce in Malaysia
Introduction Online trade transaction, or in its current and commonly-used term, e-commerce, broadly refers to commercial activity conducted with the aid of electronic devices. E-commerce generally refers to electronic business transactions or trades which are wholly or partially conducted over the internet.1 As e-commerce grows and becomes a more viable and, to a certain extent, safer …
Section 33 and You: A Guide to Income Tax Deductions
Introduction Malaysia’s tax season is back with businesses preparing to file their income tax returns. As such, there’s no better time for a refresher course on how to lower your chargeable income. Generally, you are only taxed for the profit that you or your business earns.
The Virtual Gold Mine: Taxing Electronic Commerce
The Future Today The digital marketplace has steadily grown in popularity over the last couple of years. As of January 2020, Malaysia’s 6% digital service tax was implemented to levy taxes on popular online services like Netflix and Spotify. However, the “new normal” arising from the outbreak of COVID-19 has driven more transactions online and …
Continue reading “The Virtual Gold Mine: Taxing Electronic Commerce”
When the Taxman Comes Knocking
‘Knock Knock’ In light of the Conditional Movement Control Order (‘CMCO’) government offices, including the Inland Revenue Board (‘IRB’ or ‘the Revenue’) are beginning to resume operations. It’s only a matter of time before the taxman comes knocking. If you are dissatisfied with Notices of Assessment or Additional Assessment served upon you, the law provides …
The Tax Position of Companies Limited by Guarantee, Foundations and Non-Profit Organisations
Introduction A business entity in Malaysia is subject to the Income Tax Act 1967 (‘ITA 1967’) to pay taxes for any income generated through its operations. Pursuant to section 2 of the ITA 1967, most business entities are generally taxable given the wide definition of a taxable person. Nevertheless, Malaysia offers tax exemptions to a …
Case Commentaries: Suit Against Boustead Ex Directors – Analysis of Business Judgement Rule
A] INTRODUCTION With the recent announcement from Boustead Holdings Bhd that it had file a suit against its former managements for negligence; breach of fiduciary duties under the Companies Act 1965 and is seeking a sum of £6.4 million (RM35.37 million current value)1, this article will provide an insight as to directors’ duties and principle …
The Laws in Relation to Safety and Health at Work in Malaysia
Legislative Framework of Occupational Safety and Health in Malaysia The legislative structure of occupational safety and health in Malaysia is governed by the Constitution. The main legislations the Occupational Safety and Health Act 1994 (“OSHA 1994”), the Factories and Machinery Act 1967 (“FMA 1967”) and the Petroleum (Safety Measures) Act 1984. This article will focus …
Continue reading “The Laws in Relation to Safety and Health at Work in Malaysia”
New SC Guidelines on Conduct of Directors of Listed Corporations and Their Subsidiaries
Introduction On 30th July 2020, the Securities Commission Malaysia (“SC”) issued new Guidelines on Conduct of Directors of Listed Corporations and Their Subsidiaries (“Guidelines”) to strengthen board governance and oversight in listed issuers and their subsidiaries.
MIIP Reform Update: Granting of Citizenship for Exceptional Services
By virtue of Legal Notice 437 of 2020 which was issued on Friday 20th November 2020, the Granting of Citizenship for Exceptional Services Regulations has been launched.
Public procurement in Poland and COVID-19
The COVID-19 epidemic also has an impact on public procurement. Currently, the situation has forced the need to make changes in legislation in this area. Please find below some of the statutory changes which, in our view, are the most essential from the point of view of the public procurement contractor.