SukukChain: A Blockchain Solution for Islamic Capital Markets
Integrating smart contract and distributed ledger technology could transform sukuk and solve issues of standardisation of the legal framework of sukuk.
Emerging Need to Effectively Operationalise Transfer Pricing
As TP has expansive implications on business beyond tax, more organisations are realising a need to put systems in place to effectively operationalise TP in this era of tax transformation
Highlights of ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures
Changes in accounting standards have in turn brought about significant change to the audit of accounting estimates.
Who Bears the Taxes in the Digital Arena?
The world is in a predicament on how to tax services provided over the Internet. This becomes even more difficult when the service providers do not have any physical presence within the country. The money flows cannot be stopped as banking systems are transnational and any stoppage would hamper the wider trade flows which will have an impact on the economy.
Comparing Negative Interest Rates Policy & Mudarabah Investment Deposits
Heavyweight economies such as Sweden, Denmark, Switzerland, Japan, and EU (via the European Central Bank) initially introduced negative interest rate policies in order to stimulate their economies through money lending activities and to attract more local and international borrowers.
Key Budget 2019 Proposals
Ibrahim Abdullah, Head of Section, International Taxation Policy 1, Tax Division, Ministry of Finance Malaysia, gave an overview of the key Budget 2019 proposals at the recent MIA Budget 2019 seminar. The following are the highlights.
SST Updates & Insights
At the 2019 Budget Seminar, Amirulita Mohd Yusoff, Deputy Director of Customs, Internal Tax Division, Royal Malaysian Customs Department, covered the latest developments on SST Legislation and Guides.
Procuring Service from Foreign Providers; here’s an additional 6% tax
Effective 1 January 2019, Malaysian businesses – including those not SST registered – are required to self-account for 6% service tax upon procuring certain services from foreign service providers. What are the implications?
Comparison between MPSAS, MFRS and MPERS: Intangible Assets
This article analyses the accounting treatment for intangible assets under Malaysian Public Sector Accounting Standard (MPSAS) 31, Malaysian Financial Reporting Standard (MFRS) 138 and Section 18 of Malaysian Private Entities Reporting Standard (MPERS).
Root Cause Analysis (RCA) – An Essential Process to Improve Audit Quality?
Audit practitioners must identify the root causes impairing audit quality to ensure the success of their Remedial Action Plan (RAP) under the new Practice Review Framework.
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