Computer software has recently been in the spotlight in regards to capital allowance (CA) claims, with the issuance of Public Ruling No. 12/2014 – Qualifying Plant and Machinery for Claiming Capital Allowances by the Inland Revenue Board.
This Alert discusses the key considerations in determining whether computer software qualifies as ‘plant’ with respect to CA claims.
PwC Alert is a digest of topical financial and business information for clients and business associates of PwC Malaysia. Whilst every care has been taken in compiling this newsletter, we make no representations or warranty (expressed or implied) about the accuracy, suitability, reliability or completeness of the information for any purpose. PwC Associates Sdn Bhd, its employees and agents accept no liability, and disclaim all responsibility, for the consequences of anyone acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Recipients should not act upon it without seeking specific professional advice tailored to your circumstances, requirements or needs.
This Alert discusses the Malaysian Private Entities Reporting Standards (“MPERS”), launched on 27 October 2015. It highlights some of the key differences with the Malaysian Financial Reporting Standards (“MFRS”) and the Private Entities Reporting Standards (“PERS”), and analyses the key principles upon first-time...
This Alert talks about MFRS 9, which will replace the existing MFRS 139 “Financial Instruments: Recognition and Measurement” from 1 January 2018.
This Alert talks about FATCA, a US law intended to detect and deter the evasion of US tax by US persons who hide money outside the US. It highlights which Foreign Financial Institutions (FFIs) fall under FATCA requirements and the Act’s impact on Malaysian financial institutions.
This Alert looks at the new revenue standard, MFRS 15, its impact to you beyond accounting and how we can help.
