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Welcome To Our Latest Newsletter

Dear Valued Clients,

   Its another month again and we are eager to update you with the latest developments in our firm. We are glad to present you our newsletter for the month.

   August has been another eventful month for us yet again. We are striving steadily forward in our expansion exercise across the globe. Our steadfast hard work has seen healthy yield with the addition of new professional members firms in Sri Lanka, Japan, Bhutan and Brazil. With the addition of these new professional and dynamic members, our group are now capable of supporting 21 countries and providing the required compliance and advisory services to our clients. Any expansion plan outside their motherland by our clients will be met and done in a breeze.

   The first step with the correct partner is always the most important criteria when expanding or venturing into a new foreign jurisdiction. Partnering 3E Accounting in your expansion quest will be the best choice for you. We will take care of all your compliance requirement leaving you with with ample resources and energy to concentrate on your business.

   We do not stop here. We are still actively seeking and venturing in all new possible way and area in order to bring the best to you. Stay tune with us for more good news to come.

Thank you.

Stephanie Chua
Stephanie Chua
Managing Partner

Latest News

  Notification on GST 03 Return Amendment
Notification on GST 03 return amendment In accordance with Regulation 69 of the GST Regulation 2014, with effect from 23 August 2016, rules on return amendments are as follows: 1) there is no limit on return amendments until due date of submission of return. 2) amendments are allowed once within 30 days (for monthly taxable… Read More

  GST changes for Disbursement and Reimbursement
GST changes for Disbursement and Reimbursement The RMCD has issued the amendment to Decision by Director General No. 5/2015 in relation to disbursement and reimbursement. The above-mentioned document can be downloaded from the RMCD’s website here Read More

  Tax Clearance Letter (SPC) Application for Companies, LLP and Labuan Entities
Tax Clearance Letter (SPC) Application for Companies, LLP and Labuan Entities This guideline specifies the method of Tax Clearance Letter (SPC) application for corporate taxpayers, LLP and Labuan entities (Labuan companies & Labuan LLP).  Read More

  MASB issues amendments to Share-based Payment Standards
MASB issues amendments to Share-based Payment Standards The Malaysian Accounting Standards Board (MASB) has today issued amendments to MFRS 2 Share-based Payment with regards to classification and measurement of share-based payment transactions (the Amendments). The Amendments is word-for-word the Amendments to IFRS 2 issued by the International Accounting Standards Board (IASB). The Amendments… Read More

  Overview of Malaysia New Companies ACT 2016
Overview of Malaysia New Companies ACT 2016 The new Companies Bill 2015 (“Bill”), which will replace the current Companies Act 1965 (“Act”) as a whole and is expected to be gazzetted tentatively by end of August 2016 and its implementation shall commence as early as January 2017 Read More

  Accounting Software Enhancement Towards GST Compliance
Accounting Software Enhancement Towards GST Compliance (Revised as at 01 August 2016) On 1st August 2016, 3 tax codes (ES-GU, OS-OVN, OSOVT) were removed and one more new tax code (NP) is added, therefore now we have 37 GST tax codes in total. Tax Code: NP – This tax code is applicable for matters to… 
Read More  


3E Accounting

We are an independent member of 3E Accounting International Network


  Singapore | Malaysia
  Indonesia | Cambodia
  Philippines | Vietnam
  Laos | India | Sri Lanka
  Japan | Bhutan

  Malta | Cyprus

  North America
  Mexico | Panama
  Cayman Islands

  South America
  Argentina | Chile
  Peru | Colombia

  Visit Our Website
Press Release
3E Accounting PLT Becomes a Certified Ordinary Member of the Malaysian Institute of Human Resource Management Read More

Interview with Channel NewsAsia
Interview with Channel NewsAsia Read More
Notice of Holiday

Hari Raya Haji &
Malaysia Day

Our office will be closed on 12 September 2016 for Hari Raya Haji Public Holiday and 16 September 2016 for Malaysia Day Public Holiday

We will be operating on
13 September (Tue) and 19 September (Mon) onwards, respectively.

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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