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MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

Updates on GST and Sales Tax Exemption

Updates on Sales Tax and Service Tax

The Inland Revenue Board of Malaysia (“IRB”) has recently issued media releases.

Recap of the changes affecting individual tax for the Year of Assessment 2018.

Our 2019 Women in business report: building a blueprint for action shows that progress is being made towards gender parity at the senior management level. The last 12 months have seen increases in both the proportion of senior roles held by women and the proportion of businesses with at least one woman in senior management.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

The Finance Act 2018 and various Orders were gazetted recently. Selected changes are highlighted below for your attention.

The long-awaited Sales Tax and Service Tax (“SST”) frameworks have finally been released by the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018. The effective date of the SST implementation will be on 1 September 2018.

The MASB has issued ‘Definition of Material’ making amendments to MFRS 101 ‘Presentation of Financial Statements’ and MFRS 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’.

South East Asia is a bright spot in the global economy. The outlook for the region is sustained, healthy growth of more than 5% per year between now and 2022.(i) Against this backdrop, business sentiment has hit a new high. We explore what is driving this positivity and find that infrastructure emerges as a source of real opportunity for ASEAN firms in the coming years. At the same time, however, concerns over climate change loom large. Greater cooperation will be key to overcoming these environmental risks.

Given the slowing rate of economic growth, businesses across Asia Pacific (APAC) region have an appetite for automation. In this article we explore where that support is strongest, and why. We find that amid the rich opportunities, risks are present in the automation revolution. Businesses and policymakers should confront these challenges now, to avoid hampering future growth prospects.

Asia Pacific (APAC) is a region in flux. In 2018, businesses must contend with numerous challenges, not limited to environmental risks and an ageing population. But with disruption comes great opportunity.

This Budget analysis provides details on various tax measures that were announced in the 2019 Budget speech.

Our MFRS News series provides insights from our global MFRS team on applying MFRS in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack guidance. This edition provides guidance on client money – arrangements in which a reporting entity holds funds on behalf of clients.