Tuesday, 18 October 2016

BR1M: Friend or foe?

Ever since the launch of 1Malaysia People’s Aid (BR1M) in 2012, its allocation has expanded from RM2.6b (2012) to RM5.9b (2016). It began as a single payment of RM500 and RM250 to eligible households and single individuals respectively. 2016 sees the government doling out amounts of RM1,050, RM1,000, RM800 and RM400 to different categories of eligible recipients.

The need for BR1M cannot be denied. It targets households that earn less than RM4,000 per month and singe individuals that earn less than RM2,000 per month. Increased costs of living have left the M40 group feeling the pinch, what more of those in the B40 group? However, these cash payments can only go so far by making the recipients feel slightly less poorer for a few weeks at a stretch. It temporarily alleviates the symptoms but it does not address the root cause of the existence of the B40 group and people remaining in there.

Why do people still remain in poverty?

Sunday, 16 October 2016

BEPS: Multinationals must be ready

Transfer pricing has always been an avenue used by many multinationals to reduce their tax liabilities, albeit in a legal manner. Different jurisdictions have differing tax regimes and frameworks. Large companies can do a massive amount of business throughout the world, but, thanks to some smart profit-shifting arrangements, end up booking most of the profits in jurisdictions with minimal tax.

The speedy growth of e-commerce and the digital economy has made it easier for companies to grow beyond their traditional boundaries, and the need for governments to clamp down on loopholes in the international tax system has never been more apparent.

It is pretty much an accepted fact that most of the existing tax rules were designed in an era where there was very little economic integration between countries, and with a high reliance on physical property, plant and equipment. To keep in pace with the current era, tax rules must change and jurisdictions across the world must collaborate and work together,

Friday, 7 October 2016

Are you maximising the use of your Intelliconnect resources?

While we at Wolters Kluwer are obviously happy when you agree to purchase one of our high quality online subscriptions (whether it's for tax, GST, accounting or human resources), we would be even more happier if you make full use of all the features that we've developed to help you in your work!

As such, I'd just like to take a short while to remind you of a few of the many features that Intelliconnect has which you should take full advantage of:

Friday, 30 September 2016

Draft law on national SME development

The National Small and Medium Enterprise (SME) Bill 2016 is being drafted to support SMEs and is aimed at strengthening the country's SME development in line with Prime Minister Datuk Seri Najib Tun Razak's wish of empowering SMEs.
The Bill highlights the function of the National SME Development Council in terms of assisting the government to develop the sector and matters related to special SME funds, as well as funds that had been announced.

Thursday, 29 September 2016

The Wolters Kluwer Budget Conference... an experience in itself!

The Budget 2017 announcement is less than one month away, and Wolters Kluwer is on the ball. This year, we're pulling out all the stops to ensure you get the most out of our annual Budget Conference.

Wolters Kluwer has gathered together prominent figures from all the major international professional firms, key government officials and representatives from the corporate world. They'll cover everything from the Budget 2017 highlights, the latest developments on BEPS and transfer pricing, tax issues and strategies, GST insights and developments, as well as planning and takeaways for businesses as we look to 2017 and beyond.

Make sure you reserve your spot quickly!

What else do we have in store? Well, once the Budget has been announced, we're opening the floor for all of you to ask us related questions through our Facebook page. If there's anything you would like us to discuss, anything that you feel needs to be given more emphasis, let us know and we'll let our expert panelists address them. We're not going to presume to know what you consider important. if there's any Budget-related issue that's critical for you, tell us!

Aside from what you'll hear at the conference, we also plan to compile electronically a collection of Thought-Leadership articles on Budget 2017, articles written by our respected speakers and authors for you to digest and think about.

Last year's edition of the ever popular Budget Booklet. Get a
complimentary copy of the 2017 edition at our Budget Conference!

Finally, to round it all up, those of us who join us for the conference will also receive a free entry to an exclusive half-day Tax Forum on tax saving tips for 2017! Yes, this is a complimentary seminar which acts as a follow up to the Budget Conference, leaning towards the practical aspects of tax planning.

Value enough for you? I'll just say this: if there's one Budget Conference you plan to be going to this year, it should be this one.

Our excellent team will be around to help you with everything you might need.
The Wolters Kluwer Budget Conference 2017. An experience in itself.

Sign up here or through our regular and enjoy a 10% off if you register by 31 October 2016! From there, you'll also be able to download the brochure to find out all you need to know.

See you there!

Friday, 23 September 2016

Malaysia Budget 2017: Where do we stand

The Malaysia Budget 2017 announcement is now less than one month away. Feedback from institutions as well as the general public have been pouring in since the second quarter of the year. The official public submissions deadline for Budget 2017 through the official website bajet2017.najibrazak.com ended on the 21st of September 2016, just two days ago. Credit to the public for making use of this opportunity and it’s encouraging to see more views and opinions to help the Government in the Budget 2017 preparation.

Looking at the submissions, some of the most popular comments from the public included calls for contract staff in the civil service to be absorbed and given permanent employment. Those include officers who are part of the price watch team, employed to monitor businesses for excessive pricing, which has seen significant activity with the implementation of the goods and services tax (GST). Although some of the comments appear to have been copied and pasted, there appears to be plenty of support by the public. According to one of the correspondents, there are about 1,300 of these officers at this point in time.

Friday, 16 September 2016

Meeting your CPE requirements in Singapore

As we approach the last quarter of the year, most of you professionals out there will be checking to make sure you are on track to satisfy all your professional requirements for the year or three-year period. We hope that you haven't waited too long though to start tracking your CPE hours. If you suddenly find you are still a long way towards fulfilling those requirements, the end of the year could start looking very near indeed!

Each of you would belong to a different association, and each association would have different requirements. It could get quite tricky, so here's a summary (click to enlarge):