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Welcome To Our Latest Newsletter

Dear Valued Clients,

We are glad to present you our newsletter for July 2016.

   In this issue of our newsletter, we are glad to share with you the good news of our completion of yet another networking partnership agreement. We are now one step further into our expansion quest by welcoming our new member firm, SAS Smart Account Solution Co. LTD. who will represent us in the Philippines market.

   SAS Smart Account Solution Co. LTD. is a member of the International Associations of Outsourcing Professionals (IAOP) and Nordic Business Council Philippines (NBCP) with its office in Manila. Please refer to here to find out more about SAS Smart Account Solution Co. LTD.

   Another good news that we would like to share with you is that, Ms. Stephanie Chua, our Managing Partner of 3E Accounting Malaysia, having satisfied the requirements of the Council of Malaysian Institute of Human Resource Management, has recently been recognised as an ordinary member of the Malaysian Institute of Human Resource Management (MIHRM).

   We are proud of Stephanie's achievement and the effort that she put in to successfully satisfy all the requirements of the Council of MIHRM. As an Ordinary Member of MIHRM, qualified professional and employee at 3E Accounting PLT Malaysia, we, along with Stephanie can now offer the very best in Human Resource services to our clients.

   Being an Ordinary Member of MIHRM will enable 3E Accounting PLT to take its HR services such as payroll management and immigration services, to a whole new level. It allows the company to comply with the standards of MIHRM, and deliver top quality and professional HR services to our clients in conformance with the set standards.

We are excited with these achievements and will definitely be bringing to you more good news again in the new future.

Stay tune with us for the good news coming soon.

Thank you.

Stephanie Chua
Stephanie Chua
Managing Partner

Latest News

  MASB issues Clarifications to the new Revenue Standard
MASB issues Clarifications to the new Revenue Standard Date: 25 June 2016. The Malaysian Accounting Standards Board (MASB) has today issued Clarifications to MFRS 15 Revenue from Contracts with Customers (the Amendments). The Amendments is word-for-word Clarifications to IFRS 15 as issued by the International Accounting Standards Board (IASB). The Amendments is effective for annual.. Read More

  Amendments to Employees’ Social Security Act, 1969
Amendments to Employees’ Social Security Act, 1969 Please be informed that effective 1 Jun, 2016, The Employees’ Social Security Act, 1969 has been amended as below:- The ceiling of wage for contribution payment has been raised from RM3,000.00 per month to RM4,000.00 per month; All employees who are employed under a contract of service or.. 
Read More

Malaysia   Land Acquisition by LLP Guideline
Land Acquisition by LLP Guideline Suruhanjaya Syarikat Malaysia (SSM) has issued PN2/2016 on 6 June 2016 to clarify the requirements that need to be fulfilled relating to the acquiring of land by a limited liability partnership (LLP) and related matters. Read More

3E Accounting

We are an independent member of 3E Accounting International Network

3E Accounting International
       Singapore | Malaysia
       Indonesia | Cambodia

  Visit Our Website
Press Release
Interview with Channel NewsAsia
Interview with Channel NewsAsia Read More

New Office Expansion to Menara Centara
3E Accounting, Malaysia – New Office Expansion to Menara Centara Read More
Notice of Holiday

Hari Raya Puasa

Our office will be closed on 6-7 July 2016 for Hari Raya Puasa Public Holiday

We will be operating on 8 July (Fri) 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.

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

Awards and Recognition

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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