buyappleacc.com is a reputed website selling apple developer account, providing us, China and worldwide developer individual accounts for sale. It's at low price and good quality. Always provides satisfying services!

HomeSocialtext

aws账号(www.2km.me)_Deloitte: Tax-related incentives a good move

admin2021-12-0364

aws账号

aws账号www.2km.me)提供aws账号、aws全区号、aws32v账号、亚马逊云账号出售,提供api ,质量稳定,数量持续。另有售azure oracle linode等账号.

For instance, Deloitte Malaysia business tax and government, grants and incentives executive director Tham Lih Jiun said the abolition of the real property gains tax (RPGT) on properties sold after five years was a welcomed move.

KUALA LUMPUR: Deloitte Malaysia views the tax-related incentives announced in Budget 2022 as a way forward towards improving compliance.

For instance, Deloitte Malaysia business tax and government, grants and incentives executive director Tham Lih Jiun said the abolition of the real property gains tax (RPGT) on properties sold after five years was a welcomed move.

“A few years back, the government implemented a tax rate of 5% for the disposal of real property after the fifth year.

“Now that it has been removed, it is very good news for individuals,” she said at a briefing on the Budget 2022 highlights, transfer pricing and indirect tax.

Under the budget, which was tabled in October, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government would no longer impose the RPGT on Malaysians, permanent residents and companies when they dispose of their real property assets from the sixth year.

Tham noted that there is also a proposal to amend the tax rates imposed on companies when they dispose of an asset.

“Currently, for the disposal of a chargeable asset, if the disposer is a company and incorporated in Malaysia or a trustee of a trust society, the acquirer is required to retain and remit 3% of the total value of consideration to the Inland Revenue Board within 60 days from the date of disposal.

“It is now proposed that with effect from Jan 1, 2022, if the disposal is within a period of three years, after the date of acquisition, the percentage of retention sum is now increased from 3% to 5%.”

For companies disposing of their assets within three years, the RPGT rate is 30%, said Tham.

“So it appears that the original 3% retention rate may not be enough to set off the final tax if the disposal is within three years,” she said.

Separately, Deloitte Malaysia transfer pricing director Justine Fan cautioned that failure to provide transfer pricing documentation, unlike previously, can result in severe penalties.

“Previously, there was no penalty for failure to provide transfer pricing documentation, so the taxpayer will not be penalised.

“To bring the compliance level up, effective this year, under Section 113B(1) of the Income Tax Act 1967, if the taxpayer is requested to provide documentation, they will have 14 days to do so.”

If the taxpayer is unable to meet the 14-day deadline, he or she can be penalised with a fine of between RM20,000 and RM100,000 for each year of assessment, added Fan.

“Upon conviction, the taxpayer could be both fined and jailed for up to six months,” she said.

Transfer pricing refers to inter-company pricing arrangements for the transfer of goods or services that are exchanged between related entities within a group.

Reviews

Popular tags