Apakah itu XBRL ?

eXtensible Business Reporting Language (XBRL)

Malaysian Business Reporting System

Suruhanjaya Syarikat Malaysia (SSM) akan memperkenalkan platform serah simpan berdasarkan format eXtensible Business Reporting Language (XBRL) pada tahun 2018.

Platform ini akan dikenali sebagai "Malaysian Business Reporting System" (MBRS) yang membolehkan serah simpan khusus bagi pelaporan tahunan dilakukan iaitu: 

• Penyata Kewangan dan Laporan (FS);
• PenyataTahunan (AR); dan
• Permohonan Pengecualian (EA) yang berkaitan dengan FS dan AR.

Prinsip pembangunan sistem tersebut adalah berdasarkan peruntukkan akta atau piawaian berikut:

1. Akta Syarikat 2016 (AS 2016); 

2. Penggunaan piawaian perakaunan yang bersesuaian sama ada :

a. Malaysian Private Entities Reporting Standards (MPERS) untuk syarikat persendirian iaitu -

• tidak dikehendaki untuk menyediakan atau menyerahkan apa-apa penyata kewangan di bawah mana-mana undang-undang yang ditadbir oleh Suruhanjaya Sekuriti Malaysia atau Bank Negara Malaysia; dan
• bukan anak syarikat atau syarikat bersekutu, atau dikawal bersama oleh, syarikat yang dikehendaki menyediakan atau menyerahkan apa-apa penyata kewangan di mana-mana undang-undang yang ditadbir oleh Suruhanjaya Sekuriti Malaysia atau Bank Negara Malaysia; atau 

b. Malaysian Financial Reporting Standards (MFRS) untuk syarikat awam. 

SUMBER : SSM, MIA

PROFESSIONAL INDEMNITY INSURANCE

Prerequisite for a Professional to Carry On or to Practise a Profession

Certain professions require a person to be a member of the professional body which represents the profession to enable the person to practise and maintain his profession. Examples of these professions are accountants, lawyers and engineers.

A professional, due to the nature of his work, may be exposed to the likelihood of lawsuits for professional negligence for what he had done or what he had said in the course of carrying out his work.

Tax Treatment on Professional Indemnity Insurance Premium 

A practising professional is allowed a tax deduction for PII premium if the professional carries on a business related to his profession.

Tax Treatment on Insurance Proceeds and Compensation 

Where a professional has been allowed a deduction for the PII premium paid, any proceeds received in connection with the PII will be subject to tax. The proceeds are taxed under subsection 22(2) of the ITA.


SOURCE : LHDN

AUDIT EXEMPTION FOR CERTAIN CATEGORIES OF PRIVATE COMPANIES

The Companies Commission of Malaysia (SSM) has issued Practice Directive regarding the exemption.

Followings criteria are shall effect immediately:

1. Dormant company,

• incorporated on or after 31 January 2017, the financial statements with annual periods commencing on or after 31 January 2017: and
• where the company is incorporated on or before 30 January 2017, the financial statements with annual periods commencing on or after 1 September 2017.

2. Zero revenue companies, for financial statements with annual periods commencing on or after 1 January 2018.

3. Threshold qualified companies, for financial statements with annual periods commencing on or after  1 July 2018.

SOURCE :MIA

Directors' Report, Statement by Directors, Statutory Declaration and Auditors' Report effects after Companies Act 2016

SSM informed that for financial statements for the period/year ended on or before 30 January 2017, it will accept the accompanying  reports dated on or before 31 July 2017 that comply  with either :

(a) the requirements under the Companies Act 1965; or

(b) the requirements under the Companies 2016

SSM takes the position that after 31 July 2017, the accompanying reports should comply with requirements under the Companies Act 2016.

Akta Syarikat 2016 - Pembahagian dividen / keuntungan

Tertakluk seksyen 132, syarikat boleh membuat pengagihan keuntungan kepada pemegang syer, jika syarikat dalam keadaan solven.

Syarikat dianggap solven sekiranya mampu membayar hutang dalam masa 12 bulan selepas pengagihan keuntungan dibuat. 

Uber and Grab drivers liable to pay income tax

The Inland Revenue Board (IRB) has confirmed that individuals operating the Uber and Grabcar car-ride services are not exempted from paying tax.

Its CEO Sabin Samitah said the drivers must include information on their earnings in their income tax forms and those who have an annual income of at least RM30,000 each are liable to pay tax.

He warned that the board could check on their incomes easily.

“We can get information on the list of drivers from Uber itself and can get details on the amounts the drivers have been paid,” he said at a press conference here.

PERS transition to MPERS