PwC Alert (Issue 125): Of computer software and capital allowance claims
This Alert discusses the key considerations in determining whether computer software qualifies as ‘plant’ with respect to CA claims.
PwC Alert (Issue 126): MFRS 16 ‘Leases’
The MASB has issued a MFRS on "Leases" - MFRS 16 which supersedes MFRS 117 ‘Leases’ and the related interpretations. MFRS 16 will be effective for annual periods beginning on or after 1 January 2019. Earlier application is permitted for companies that have also applied MFRS 15 ‘Revenue from Contracts with Customers’.
This Alert gives an overview of MFRS 16 and highlights its expected impact on a company’s financial statements as well as discusses the transition to MFRS 16 when the standard becomes effective.
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.
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PwC Alert (Issue 124): Malaysian Private Entities Reporting Standards (MPERS)
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...
PwC Alert (Issue 123): Embracing the new financial instruments standard – MFRS 9
This Alert talks about MFRS 9, which will replace the existing MFRS 139 “Financial Instruments: Recognition and Measurement” from 1 January 2018.
PwC Alert (Issue 122): Foreign Account Tax Compliance Act (FATCA)
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.
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