What’s In A Plant: An Analysis of Cases Regarding Qualifying Plant Expenditures
Introduction Section 42 of the Income Tax Act (“ITA 1967”) allows businesses to lower their tax burdens by claiming allowances for capital expenditures incurred for the purpose of business – the Initial Allowance (“IA”)1 and Annual Allowance (“AA”)2 are perhaps the most widely applied of such allowances.
COVID-19: CMCO vs Modified CMCO. The Unwanted Battle between Federal and States
The New Normal: CMCO 5 On 1st of May 2020, Prime Minister Tan Sri Muhyiddin Yassin announced the implementation of the Conditional Movement Control Order (“CMCO”), with the aim of restarting a large portion of the economic sector following the Movement Control Order (“MCO”). This was subsequently gazetted under the Prevention and Control of Infectious …
Continue reading “COVID-19: CMCO vs Modified CMCO. The Unwanted Battle between Federal and States”
Privacy Law in Malaysia
Introduction With the rapid development of technology and the widespread usage of the Internet over the last decade, anyone can have access to almost anything including the personal information of others. Today, the usage of the Internet is no longer confined to connecting people and conducting research, but it has become a platform for many …
Impact of COVID-19 pandemic on Shipping
The COVID-19 pandemic still rages unabated in April 2020, ravaging and affecting lives, businesses, individuals and industries worldwide in many ways that will change the world forever1. The International Labour Organization predicts that as many as 25 million jobs worldwide could be wiped out by a worldwide recession brought about by the pandemic2. In many …
COVID-19: The Threat to Insolvency – Options to SMEs
Introduction The COVID-19 pandemic is creating significant health, social and economic challenges worldwide. The impact of this outbreak has raised many concerns in Malaysia especially for Small and Medium-sized Enterprises (“SMEs“) as there is a real risk of insolvency since business is limited due to the closure of premises during the Movement Control Order imposed …
Continue reading “COVID-19: The Threat to Insolvency – Options to SMEs”
Taxing Bossku: The Legal Issues Arising from Dato’ Seri Najib Razak’s Tax Case
1. Introduction 1.1 While the verdict of Dato’ Seri Najib Razak’s (“DSNR”) criminal trial on various charges relating to SRC International was handed down in the last week of July 2020, tax professionals are looking at the tax recovery action against the former Malaysian Premier.
COVID-19: Don’t Get Infected and Suffered for Free. Sue the Infector and Claim Your Damages!
Introduction Malaysians were frustrated about the news on several individuals’ failure to disclose vital information related to COVID-19 to the relevant authorities during medical examinations.
COVID-19 and Operational and Supply Chain Disruptions: Navigating the Legal Risk
The IHS Markit Malaysia Manufacturing Purchasing Managers’ Index – a performance indicator of the manufacturing sector – dropped to 48.4 in March 2020 from 48.5 in February 2020, reflecting a decline in the performance of Malaysia’s manufacturing sector.1 The COVID-19 global pandemic has placed companies in the manufacturing industry in a precarious position, with government restrictions …
Continue reading “COVID-19 and Operational and Supply Chain Disruptions: Navigating the Legal Risk”
Combating COVID-19: Legal Requirements and Procedures for the Importation of Vaccine into Malaysia
Introduction On 11 March 2020, the World Health Organization (“WHO”) declared the COVID-19 outbreak as a pandemic. Until today, COVID-19 has affected 203 countries and territories around the world and 2 international conveyances (Diamond Princess cruise ship and MS Zaandam cruise ship). In order to stop the spread of COVID-19 virus, a nationwide movement control …
COVID-19: Impact on Entering Into and/or Completing of Mergers & Acquisitions (M&A) Transactions
The world is reeling from the on-going effects of the COVID-19 pandemic with the consequential effects of lockdowns and restricted movements choking businesses and economic activities. All of these are likely to have a major impact on target companies and their businesses with more counterparties to the target companies looking to suspend, terminate or even …