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Welcome To Our Latest Newsletter
Dear Valued Clients,
Welcome to our E-Newsletter January 2017
Happy new year to you all. I hope that 2017 will be a fabulous year full of great achievements and experiences for all of you. Now that we’re into the new year, it’s good to take a quick look back before we plan ahead.
2016 was an eventful year for us at 3E Accounting Malaysia. We are proud to say that we are now a company very well recognized by the local community and government agencies in Malaysia. On September 2016, 3E Accounting PLT was recognized by Malaysia Brands as a Top Player in the corporate services sector in Malaysia and further recognized as a Goods and Services Tax (“GST”) Agent licensed by the Ministry of Finance, Malaysia in October 2016.
3E Accounting has successfully built itself up as a world-class service provider equipped to deliver sustained growth and long-term value to its customers. This year alone, we have successfully expanded our 3E International network into 29 countries. We have a big agenda for the future. We aim to expand our global network into 50 countries by 2018 with Europe as our main focus. We have in recent weeks completed our partnership agreement with two more members, one from Germany and the other one from Ireland. We wish to take this opportunity to extend a warm welcome to both our partners, Kanzlei Dr. Oehler of Germany and RM & CO. of Ireland.
Simply put: We aim to do our best for our valued clients with our steadfast missions: Efficiency, Effectiveness and Economy.
3E Accounting Malaysia is also working towards establishing its own unique brand identity internally and externally. As stated in our vision, we strive to serve Malaysian company with our professional end-to-end services with the highest excellency.
With the implementation of the new Companies Act 2016 where certain companies are now exempted from audit requirement, 3E Accounting will be able to support these companies fully on the compliance requirements. Also, under the new reporting framework, known as the MPERS Framework which is effective for financial statements beginning on or after 1 January 2016, 3E will also be around to assist you with any of your queries pertaining to the required changes. You will have no more worries but to confidently run your business in Malaysia while leaving all the mundane administrative and compliance matters to us.
2017 is no easier than 2016. The market is even more volatile and are full of uncertainties hence will be an even more challenging year ahead. It might also affect our industry significantly. Nevertheless, I have full confidence in our team, where we will evolve and emerge as a much stronger team than before. I am sure we would continue our growth trend and performance with result far exceeding our expectation.
The New Year is just around the corner, I would like to take this opportunity to wish you all health and happiness in the coming 2017! Let’s think flexibly and work positively.
Thank you.
Stephanie Chua
Managing Partner
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Malaysia Regulatory Update: Foreign Exchange Administration (FEA) Rules
Malaysia Regulatory Update: Foreign Exchange Administration (FEA) Rules In a bid to calm the markets and to improve liquidity, Bank Negara Malaysia (BNM) recently issued the revised Foreign Exchange Administration Rules (FEA Rules) effective 5th December 2016, as a measure to accelerate the development of Malaysian financial market and to promote financial stability. The objectives… Read More |
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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 |
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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…
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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.
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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.
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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…
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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 |
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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…
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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 |
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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.
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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.
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