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This article deals with Step 3 of the five-step model, which covers determining the transaction price.
Understand the mandatory sustainability assurance requirements, implementation timeline and key implications for businesses including steps to strengthen their reporting processes, data quality and internal controls.
Both of the e-Invoice Guidelines (e-Invoice Guideline Version 4.8 and e-Invoice Specific Guideline Version 4.9) and the e-Invoice General Frequently Asked Questions (FAQs) were updated by the Inland Revenue Board of Malaysia (IRBM) on 30 August 2026, 4 September 2026 and 7 September 2026. Let's understand the salient changes to the guidelines.
The COVID-19 global pandemic has resulted in economic consequences that many reporting entities may not have had to previously consider. One of those consequences is their ability to repay loans. In response, some lenders have agreed to changing the borrowing terms or providing waivers or modifications to debt covenant arrangements. Any changes to the terms of loan agreements, for example providing any kind of payment holidays on either principal or interest or changing interest rates, should be carefully assessed.
Following the Government's intention to increase the use of e-payments, the IRBM has announced that it will NO longer accept tax payments sent by post or courier with effect from 1 January 2021.
MFRS 129 ‘Financial Reporting in Hyperinflationary Economies’ requires the financial statements of any entity whose functional currency is the currency of a hyperinflationary economy to be restated for changes in the general purchasing power of that currency so that the financial information provided is more meaningful.
This Budget Adviser provides insights to the tax measures that were announced in the Budget 2021 speech on 6 November 2020 as well as updates on the key tax proposals from the Finance Bill 2020 released on 16 November 2020.
This Budget analysis provides details on various tax measures that were announced in the 2021 Budget speech.
When accounting for lease incentives in accordance with MFRS 16 ‘Leases’ from a lessee perspective, questions may arise in how to identify a lease incentive and when the accounting treatment changes depending on how the lease incentive is granted. This publication aims to resolve these lessee accounting questions.
When accounting for lease incentives in accordance with MFRS 16 ‘Leases’ from a lessee perspective, questions may arise in how to identify a lease incentive and when the accounting treatment changes depending on how the lease incentive is granted. This publication aims to resolve these lessee accounting questions.
The Malaysian Accounting Standards Board (MASB) has published Interest Rate Benchmark Reform Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16), finalising its response to the ongoing reform of interest rate benchmarks around the world.
We have created this comprehensive and helpful guide that highlights the relief made available by governments in ASEAN. The various government relief measures cover the following areas: financial, corporate, tax, social and health care, and employment.
The Malaysian Accounting Standards Board (MASB) has issued Amendments to MFRS 17 'Insurance Contracts' (the Amendments). The MASB also issued an amendment to the previous insurance standard MFRS 4, 'Extension of the Temporary Exemption from Applying MFRS 9 (Amendments to MFRS 4)' so that entities can still apply MFRS 9 'Financial Instruments' alongside MFRS 17
The Malaysian Accounting Standards Board (MASB) has issued an amendment to defer the effective date of the ‘Classification of Liabilities as Current or Non-current’ which amends MFRS 101 ‘Presentation of Financial Statements’ by one year.
The impact of COVID-19 is expected to have a significant impact on the going concern assumption for a large number of entities. Some entities which were previously a going concern may no longer be. Many entities will need to apply significant judgement and will be required to consider the impact of material uncertainties in assessing the entity’s ability to continue as a going concern.
Effective for financial years beginning on or after 1 January 2019, IC Interpretation 23 ‘Uncertainty Over Income Tax Treatments’ (‘the Interpretation’) requires entities to consider the potential for adverse tax determinations being made by taxing authorities while under a hypothetical tax review and record a liability (and expense) where such a finding is considered “probable”. Many entities may not experience a financial impact as a result of this, but the Interpretation remains applicable and certain disclosures may be appropriate.
This report looks at the steps retail businesses need to take to put themselves in the best position for the ‘new normal’ that will emerge once lockdown restrictions are eased.
Hotel industry: Surviving, adapting and preparing for the new normal
This Hiring Incentive and Training Programme brief guideline is prepared to assist those who need some information on the incentives and assistance available for employers and employees.