As the name goes, Withholding tax means an amount, representing the tax portion of an income of a non-resident recipient, withheld by the payer in Malaysia, and paid directly to the Inland Revenue Board of Malaysia. Find out more here..
This article is merely to assist the readers to understand a little bit more about the legal aspects of an offshore company, especially their benefits: Assets protection, Protection from lawsuits, Privacy, Simplicity, Minimising taxation
Do you understand how GST (Goods and Services Tax) in Malaysia works? Remember – All of the cost is passed on to the consumer, which is you. See an explicit explanation of GST here, and a very good example of how GST’s mechanism is.
When a listed company has cash and short term investments, making up at least 70% of its consolidated assets (this condition is referred to as “Cash Criterion”), it has to notify Bursa Malaysia immediately. Bursa will determine if this company is considered a “Cash Company”.
While there are more than a thousand companies listed in Bursa Malaysia, not all of them are in a financially sound position. Although at the point of listing, these listed companies must meet the Listing Requirements of Bursa Malaysia, given time, the company’s financial position and business direction can change for the better or for the worse.
To strengthen the position of Bursa Securities as a conducive capital raising destination, the enhanced framework of the MESDAQ Market will be known as ACE Market effective 3 August 2009.
This enhancement entails the merging of the current Main Board and Second Board into a single board of established corporations. Effective 3 August 2009, this merged market of Main and Second Boards will be known as the Main Market, hence the listing of both Boards.
XBRL stands for eXtensible Business Reporting Language. It is an electronic communication of business and financial data language developed to present financial statement on the Internet. The key advantage of this new “language” is that an identifying tag is applied for each individual item of data instead of treating them as a block of text.
After touching briefly on the presentation of financial statements for an Islamic bank in my earlier article, we now move on to a little bit more detail. Let us look at the key differences in presentation of financial statements between conventional an Islamic banking.
Now that Islamic banking uses a different set of accounting principles, mainly due to their different product characteristics and participation levels, it is just natural to expect different disclosure requirements within the financial statements for Islamic banks.
