ACC 4218 Group Assignment by Chia Cheng Yuan https://padlet.com/i19017112/1657pfq2vvjjor5w en-us 2022-06-23 07:15:09 UTC 2025-11-07 19:43:24 UTC hello@padlet.com 5 areas of tax incentives in manufacturing industry https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234884146 2022-07-01 05:26:59 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234884146 Extension of Tax Rebate for Establishment of New MSMEs Entities https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234889390 Existing
- MSMEs give tax rebate up to RM20000 for each YA for first 3 year assessment.
- This tax incentives for MSMEs start from 1 July 2020 until 31 December 2021.]]> 2022-07-01 05:37:25 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234889390 Proposed https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234890462 - It already proposed the establishment and operational period for new MSMEs through online platform be extended to 31 December 2022.]]> 2022-07-01 05:39:52 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2234890462 Further Tax Deduction on Expenses for Employees' Accommodation under Safe@Work i19017112 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235496787 Existing
- A further tax deduction for rental expenses on premises for employee
- Manufacturing-related service companies that participate in the Safe@Work initiative
- Qualifying rental expenditure limited to RM 50,000 per company]]> 2022-07-02 09:43:52 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235496787 Proposed i19017112 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235503018 - Incentives will be extended for an additional year. 
- The effective date is from 1 January 2022 to 31 December 2022.]]> 2022-07-02 10:08:40 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235503018 Extension of Double Deduction for Vendor Development Programme https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235532983 Existing
- An anchor company registered in Malaysia Companies Act 2016 and is a resident in Malaysia and participates in VDP is eligible for the incentive. 
- The double deduction is limited to incurring qualifying expenditure of up to RM300,000 per YA.

]]> 2022-07-02 12:41:40 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235532983 Proposed https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235533303 - Amount increased to RM500,000 for each YA, for 3 consecutive YAs.
- From 1 January 2021 to 31 December 2025, the incentive extended for MoUs signed between anchor companies and MEDAC.

]]> 2022-07-02 12:42:59 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2235533303 Flat rate Tax value https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241469131 Existing
- Companies other than micro, SMEs are taxed at a flat rate of 24% ]]> 2022-07-12 02:41:06 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241469131 Proposed https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241469876 - One-off special tax ("Cukai Makmur") at the rate of 33% on chargeable income exceeding RM100 million for YA 2022 ]]> 2022-07-12 02:41:54 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241469876 Extension period for unabsorbed business loss https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241474229 Existing
- Effective YA 2019, unabsorbed business losses are allowed to be carried forward for a period of 7 consecutive Yas Unabsorbed business losses up to YA 2018 can be carried forward up to YA 2025 ]]> 2022-07-12 02:46:27 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241474229 Proposed https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241475743 - Period is extended to a period of 10 consecutive YAs
- Unabsorbed business losses up to YA 2018 can be carried forward up to YA 2028 ]]> 2022-07-12 02:48:07 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2241475743 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2243390838 Benefit
- Encourage taxpayers to make certain types of purchases or to stimulate a flagging economy

Suggestions
- Government should continue the extension of tax rebate because it can reduce their cost and burden. ]]> 2022-07-14 12:27:25 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2243390838 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2243833210 Benefit
- Encourage more participation to develop local vendors.
- Increment intensity and ability of local vendors.
- Upgrade existing products or services.

Suggestion
- Government should continue on double deduction because this give impetus to anchor companies to develop programmes that will upskill their vendor companies. ]]> 2022-07-15 02:46:00 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2243833210 i19017112 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244201313 Benefits
-  It have an evaluation score of 70% and eligible for the one-off tax deduction of up to RM 50,000 on expenses

Suggestion
- Due to the tax deduction on employees' accommodation can lighten the burden of the company, government should extend this tax deduction. ]]> 2022-07-15 15:24:57 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244201313 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244736600 Benefit
- Faster recovery process for the infected business. 
Suggestion
- Government should continue the extension for faster recovery of the industry
]]> 2022-07-17 10:36:48 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244736600 https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244737161 Benefits
- Faster Economic Growth. Encourage more productivity.  
Suggestion 
- Adapt the new Cukai Makmur Policy
]]> 2022-07-17 10:39:35 UTC https://padlet.com/i19017112/1657pfq2vvjjor5w/wish/2244737161