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Implementation Notes & Best Practices
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📝 Journal Entry Templates
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💰 Tax Guide & Calculator
SST Calculator
Calculation Results
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Total (Including SST):
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Corporate Income Tax Calculator
Tax Calculation
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SME Rates (2024):
• First RM 600,000: 17%
• Exceeding RM 600,000: 24%
Normal Company: 24%
Withholding Tax Calculator
Withholding Tax Calculation
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References
*Companies Act 2016* (Act 777). (2016). Percetakan Nasional Malaysia Berhad.
IFRS Foundation. (2021, March). *IFRIC Update March 2021 - Agenda Paper 2: Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets)*. https://www.ifrs.org/news-and-events/updates/ifric-updates/march-2021/
Inland Revenue Board of Malaysia. (2019a). *Public Ruling No. 1/2019: Entertainment Expense*. https://phl.hasil.gov.my/pdf/pdfam/PR_01_2019.pdf
Inland Revenue Board of Malaysia. (2019b). *Public Ruling No. 4/2019: Tax Treatment of Bad Debts and Doubtful Debts*. https://phl.hasil.gov.my/pdf/pdfam/PR_04_2019.pdf
Inland Revenue Board of Malaysia. (2019c). *Public Ruling No. 5/2019: Perquisites from Employment*. https://phl.hasil.gov.my/pdf/pdfam/PR_05_2019.pdf
Inland Revenue Board of Malaysia. (2020). *Public Ruling No. 2/2020: Small Value Assets*. https://phl.hasil.gov.my/pdf/pdfam/PR_02_2020.pdf
Inland Revenue Board of Malaysia. (2021). *Public Ruling No. 1/2021: Tax Treatment of Research and Development Expenditure*. https://phl.hasil.gov.my/pdf/pdfam/PR_01_2021.pdf
Inland Revenue Board of Malaysia. (2022). *Public Ruling No. 3/2022: Capital Allowance for Motor Vehicles*. https://phl.hasil.gov.my/pdf/pdfam/PR_03_2022_Capital_Allowance_For_Motor_Vehicles.pdf
Inland Revenue Board of Malaysia. (2023). *Income Tax (Transfer Pricing) Rules 2023*. https://phl.hasil.gov.my/pdf/pdfam/Income_Tax_Transfer_Pricing_Rules_2023.pdf
Inland Revenue Board of Malaysia. (n.d.). *Capital Allowance and Industrial Building Allowance*. Retrieved from https://www.hasil.gov.my/
*Income Tax Act 1967* (Act 53). (Including Schedule 3 and Sections 33, 34A, 39, 44(6), 107A, 109, 109B). Attorney General's Chambers of Malaysia.
Malaysian Accounting Standards Board. (2011). *MFRS 138 Intangible Assets*. https://www.masb.org.my
Malaysian Accounting Standards Board. (2014). *MFRS 9 Financial Instruments*. https://www.masb.org.my
Malaysian Accounting Standards Board. (2014). *MFRS 15 Revenue from Contracts with Customers*. https://www.masb.org.my
Malaysian Accounting Standards Board. (2015). *MFRS 120 Accounting for Government Grants and Disclosure of Government Assistance*. https://www.masb.org.my
Malaysian Accounting Standards Board. (2017). *MFRS 112 Income Taxes*. https://www.masb.org.my
Malaysian Accounting Standards Board. (2018). *MFRS 16 Leases*. https://www.masb.org.my
Royal Malaysian Customs Department. (n.d.). *Sales Tax & Service Tax (SST)*. Retrieved from https://mysst.customs.gov.my/
*Sales Tax Act 2018* (Act 806). Attorney General's Chambers of Malaysia.
*Service Tax Act 2018* (Act 807). Attorney General's Chambers of Malaysia.
Social Security Organisation (PERKESO). (n.d.). *Contribution Rates & Wages*. Retrieved from https://www.perkeso.gov.my/
Employees Provident Fund (KWSP). (n.d.). *Contribution Rate*. Retrieved from https://www.kwsp.gov.my/
Human Resources Development Corporation (HRD Corp). (n.d.). *Levy Imposition*. Retrieved from https://hrdcorp.gov.my/