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Welcome To Our Latest Newsletter

Dear Valued Clients,

   Welcome to our E-Newsletter December 2016

   Merry Christmas and Happy Holiday!

   We are glad to present you our newsletter for December. What’s new and exciting this month?

   Ready to Support
   In this issue of newsletter, we are glad to share with you that we are now one step further into our expansion quest by welcoming our new network member firm, Link-Pro CPA Limited who will represents us in the Hong Kong market.

   Lawrence Chai, Partner of 3E Accounting, Invited Speaker for 15th Annual Malaysian Tax Conference
   It was indeed a great honor for Lawrence to be invited as one the speakers for the 15th Annual Malaysian Tax Conference on the 7 th to 9 th November at Cititel Mid Valley. Not to mention, 3E Accounting was honored to become the exhibiting partner of the 15th  Annual Malaysian Tax Conference and we are happy to be able to support the conference.

   Office Closure on 26 December 2016 to 27 December 2016
   We would like to inform that our office will be closed on 26 December 2016 (Monday) to 27 December 2016 (Tuesday) for a holiday replacement of Christmas. Please be informed that our partner, directors and staff will have no access to the emails on the said dates and all emails will be attended once we resume operations on the next working day.

   Remember to call us if you require any assistance.

   Otherwise, stay tune for any new update and interesting news from us.

Thank you.

Stephanie Chua
Stephanie Chua
Managing Partner

Latest News

  MIDA Strengthens Cooperation with Jetro
MIDA Strengthens Cooperation with Jetro 16 November 2016, Tokyo – The Malaysian Investment Development Authority (MIDA) and Japan External Trade Organisation (JETRO) signed a memorandum of cooperation (MoC) in the presence of both the Prime Minister of Malaysia, Dato’ Sri Najib Razak and the Prime Minister of Japan, His Excellency Shinzo Abe. The two leaders… Read More

  Pay Your Tax on Time and Accurately
Pay Your Tax on Time and Accurately What will happen if our tax payment is not on time, inaccurate or maybe we did not pay the tax? Will it affect our daily life routine? As all of us noticed, without the aid of technology, the result of IRB tracking for those who didn’t pay their…
Read More

  Highlights of Malaysia Budget 2017 in Malaysia
On 21 October 2016, YAB Dato’ Sri Mohd Najib Bin Tun Haji Abdul Razak, Malaysia Prime Minister has tabled Budget 2017 themed “Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat”. The following is the summary of Highlights of Malaysia Budget 2017 which were announced in Parliament.
Read More

  IRBM Public Ruling No. 7/2016
IRBM Public Ruling No. 7/2016 We are hereby informed that the Inland Revenue Board of Malaysia (IRBM) has, on 7 October 2016, issued Public Ruling (PR) No. 7/2016: Basis Period for Companies Under Liquidation. The objective of this PR is to explain the determination of the basis period for companies under liquidation. 
Read More

  Application of Import Duty Exemption on Machinery & Equipment and Raw Materials & Components
Implementation of Online Submission for The Application of Import Duty Exemption on Machinery & Equipment and Raw Materials & Components All applications for import duty exemption which involve PC1, PC Services, PC2, PC2A, PC2-1, SPM1 and SPM2 need to be submitted online with effect from 1 November 2016. With effect from 1 November 2016, all…
Read More

  Registrants who fail to make GST payments within a prescribed period
Imposition of Compound on Registrants who fail to make GST payments within a prescribed period Registrants who still have outstanding tax in the year of 2015 will be given until 31 October 2016 to pay the outstanding amount. Failure to do so will be imposed a compound to the maximum amount of RM 20,000. Registrants… Read More

  Goods and Services Tax (GST) Audit Framework
GOODS AND SERVICES TAX (GST) AUDIT FRAMEWORK The Royal Malaysian Customs Department (RMCD) has recently issued the GST Audit Framework which can be downloaded from its website at here. Need more insight information? Feel free to contact 3E Accounting for us to assist in getting yourself prepared and ready for the GST audit. Prevention is… 
Read More

  RM88.4 Billion Worth of Investments Approved In 1H2016
RM88.4 Billion Worth of Investments Approved In 1H2016 The approved direct investments in the services, manufacturing and primary sectors in the first half of 2016 (1H2016), totalled RM88.4 billion compared with RM125.9 billion in the same period last year. The investments approved in 1H2016 were in 2,499 projects, and are expected to generate more than… Read More

  Hire illegals and we will freeze assets, warns Immigration
Hire illegals and we will freeze assets, warns Immigration On 13 September 2016, DG says Immigration Dept will start using full provision of law to punish employers who flout law by hiring and protecting illegal foreign workers. Pointing to a provision under Section 56(1) of the Immigration Act, the department’s director-general Mustafar Ali said the… Read More

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Press Release
Lawrence Chai, Invited Speaker for 15th Annual Malaysian Tax Conference Read More

3E Accounting PLT Malaysia Certified as a Local GST Tax Agent Read More
Notice of Holiday


Our office will be closed on 26 and 27 December 2016 for Christmas Public Holiday Replacement.

We will be operating on
28 December (Wed) onwards.

Dear Clients,

Our directors and staffs will
have no access to the email during these period and all
email will be attended to once we are back to the office on the next working day.

We apologize for any
inconvenience caused.

About 3E Accounting

Why switch to 3E Accounting

3E Accounting is a leading international accounting firm that provides truly one-stop solutions for businesses, committed in helping businesses in the areas of Company incorporation, nominee director, LLP setup, immigration, work pass application, stamp seal maker, accounting, tax, GST, secretarial, human resource, cloud based accounting software support, business advisory, and virtual office services.

Currently, our network group has presence in 27 countries globally, with a total combined staff strength of more than 600 staffs and 38 offices across Asia, North and South America, Africa, Oceania and Europe. We are not just to support you locally in Singapore, but to support you for your business expansion in overseas as well when you are ready.

Find out more: Why switch your service provider to 3E Accounting
Setting Up Company in Malaysia
Please click here for Complete Guides for setting up company in Malaysia.
Guide to Malaysia Company Registration
Guide to Select Your Malaysia Company Names
Incorporation FAQ
Determining Financial Year End
Sole Proprietor vs LLP vs General Partnership vs Company
Guide to Foreigner Setting Up Company in Malaysia
Foreign Company Setup Options

Company Compliance
For more information about Company Compliance, Please click here. (i.e. Obligations under Companies Act, 1965; Directors’ duties and prohibition under the Companies Act, 1965; Responsibilities As Employers; Obligations under Income Tax Act; Obligations under Goods and Services Tax (GST) Act).

Hiring Staff in Malaysia
For Guide to Hiring Staff in Malaysia, please click here.

GST Registration Obligation
Any person who makes a taxable supply for business purposes and the GST exclusive value of the taxable turnover of that supply for a period of 12 months or less exceeds the threshold of RM500,000 is required to be registered for GST. You must apply for GST registration within 28 days from the date the annual taxable turnover exceed RM500,000 (determined based on either the historical or the future method). Please click here for complete guides for GST registration

Reverse Charge for Importation of Services

 A supplier who does not belong in Malaysia and supplies services to a customer in Malaysia does not have to charge GST. However, the customer who receives the services for the purpose of any business carried on by him is required to account for GST by a reverse charge mechanism.
When services are imported from outside Malaysia and supplied to a recipient in Malaysia, being taxable supplies if made in Malaysia, the recipient of the supply shall account and pay GST if such imported services are for the business purposes and consumed in Malaysia. He shall account for output tax on the portion of the services consumed in Malaysia. If the recipient is a taxable person, he is entitled to claim input tax on the services if the imported services are used for making taxable supplies.
If the recipient is not a taxable person, he is still required to account the GST as output tax and declare the tax in a prescribed form (Form GST-04). The tax has to be paid not later than the last day of the subsequent month from the month in which the payment of supply is made.
The time of supply of imported services is due when payment is made by the recipient of that service to the extent covered by the payment made.
A recipient does not need to issue any tax invoice when he receives an imported service. But for audit purpose, the recipient should keep the invoice he receives from the overseas supplier.
For online submission of Form GST-04, refer to:
Click here for more information about Overview of GST in Malaysia

Tax Planning
Looking for tax savings method for Personal, please refer to:
Personal Income Tax Planning
Corporate Tax Planning

Click here for more Resources

3E Accounting
3E Accounting PLT
Unit No. 20-01, 20-02, 20-03, Level 20, Menara Centara, 
No. 360, Jalan Tuanku Abdul Rahman,
50100 Kuala Lumpur, Malaysia
+603 - 2603 7328
Copyright © 2016 3E Accounting PLT, All rights reserved.

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