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Wednesday, December 17, 2014

Getting ready for GST before April 2015

1st April 2015 when GST start full implementation for Malaysia is just a little over 3 months for now. After that, mistakes, omissions, missing datelines can be very expensive as the Customs can if they so chose to, impose very heavy fines.

Pop over to
Checklist of tasks to do in preparation for GST
and tick off each of the 14 tasks to do as each task is completed.

Your business may need to submit GST Returns (Form 3 or GST-03) every 3 months if annual turnover is below RM5,000,000 and every 1 month if over that threshold. You must submit it before the end of the month following the taxable period.

The MYOB Accounting software will help tremendously with these requirements. One of MYOB partner in Uptown is SeaSoft Sdn. Bhd. at 34M Jalan SS21/39.

Friday, December 5, 2014

Best browser for theStar ePaper

Are you a subscriber of theStar ePaper or theStar ePaper bundle which includes also the printed newspaper?

If you are, have you ever used the Google Chrome browser to read the ePaper? I have found that Chrome browser is not suitable for the ePaper.
1. There is no top left horizontal or top right horizontal menu bar
2. once logged in and reading the ePaper, there is no log out button (right menu bar)
3. without the top left horizontal menu bar you will not be able to access you the table of content for navigation or the calendar to access the past issues (left menu bar)
4. without these menu bars, you will only be able to view the main section and not the other sections like Metro or the Classifieds
5. there is no sign out button in the Chrome browser
6. if you first use the Chrome browser, then use the Firefox or IE browser to get the above, you will not be able to sign out in the Chrome browser so when you try to sign in the other browsers, you will not be allowed to as you are already signed in elsewhere

(Note: the way to overcome no. 5 & 6 is to keep pressing the back button till you get the sign in/out page and there you will find the button to sign out)

So my recommendations is to use the Firefox browser (preferred) or the less popular Internet Explorer. See screenshots below (click to enlarge):

the Star ePaper viewed with Chrome browser
the Star ePaper viewed with Firefox browser
the Star ePaper top left horizontal menu bar
the Star ePaper top right horizontal menu barr

theStar ePaper viewed with Google Chrome

theStar ePaper viewed with Chrome browser
theStar ePaper viewed with Chrome browser

theStar ePaper viewed with Firefox browser

theStar ePaper viewed with Firefox browser
theStar ePaper viewed with Firefox browser

theStar ePaper top left horizontal menu bar

theStar ePaper left top horizontal menu bar
theStar ePaper left top horizontal menu bar

theStar ePaper top right horizontal menu bar

Sunday, November 30, 2014

Are income received in Malaysia from oversea taxable?

Some says income received in Malaysia from overseas are not taxable. Some says earnings are not taxable only if

 According to Deloitte Highlights 2014:

Source:
http://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-malaysiahighlights-2014.pdf

Corporate taxation:
Corporations are taxed on income derived from Malaysia. Foreign-sourced income is not taxable unless the corporation is carrying on a business in the banking, insurance, air transport or shipping sectors.

Personal taxation:
Basis: Individuals are taxed on income derived from Malaysia. Foreign-source income is not taxable in Malaysia

According to Price Waterhouse:

Source:
http://www.pwc.com/en_MY/my/assets/publications/pwcalert109_fsi.pdf
Issue 109 November 2013
PP9741/10/2012(031262)

PwC Alert
Local versus foreign sourced income - A continuous debate
Malaysia adopts a territorial scope of taxation. Section 3 of the Income Tax Act 1967 ("the Act") provides that only income that is accruing in or derived from Malaysia, and income remitted to Malaysia from outside Malaysia is subject to tax. In ongoing efforts to encourage Malaysian businesses to venture overseas and thereafter repatriate their profits to Malaysia, the government had since 1995, introduced various legistlations which exempts from tax, foreign sourced income remitted to Malaysia except for taxpayers carrying on banking, insurance, sea or air transport business.

Paragraph 28, Schedule 6 of the Act which exempts from tax,

"...income of any person, other than a resident company carrying on the business of banking, insurance or sea or air transport, for the basis year for a year of assessment derived from sources outside Malaysia and received in Malaysia."

broad guiding principle for determining where income is sourced from is enunciated by Lord Bridge in the landmark Privy Council case*, Commissioner of Inland Revenue v Hang Seng Bank Ltd (1990) STC 733:


There you are folks, according to 2 big International Accounting and Taxation firms.


Sunday, November 23, 2014

Korean Fried Chicken.

Korean Fried Chicken received a good review in the Malaysian Insider - 5 places to grab your Korean Fried Chicken in KL and PJ. Unfortunately, Damansara Uptown has only 1 Korean restaurant, the Han Woo Ri Korean BBQ Restaurant.

However, nearby there are 2 in Bandar Utama, namely - KyoChon Korean Fried Chicken and Dubu Dubu Urban Korean Food.

For more choices, just a little bit further at Desa Sri Hartamas is the Wow Chicken and at Mont Kiara, the Chicken House

Saturday, November 22, 2014

Review: Vicchunda Tomyam Seafood

Had always wanted to test taste this popular Malay dish, Ayam masak merah (chicken cook red). So since at dinner time and I was near Restoran Vicchunda Tomyam Seafood, I decided to try it out.

Found that on their menu, they have only Ayam Merah, no Ayam masak merah. Perhaps it is the same, I don't know. Anyway, ordered Ayam merah nasi:

Ayam Masak Merah Restoran Vicchunda Tomyam and Seafood
Ayam Merah Nasi Restoran Vicchunda Tomyam and Seafood
So how was it? Was expecting lots tomato the superfood, but was disappointed. No sign of tomato. Maybe tomato ketchup. Perhaps that is why Restoran Vicchunda called it Ayam merah rather then Ayam masak merah. It came with sambal belacan. The chicken was overcooked and tough.

Wednesday, November 19, 2014

Setting up mini portable photo studio (lightbox)

Businesses which wants to present their products in the best light would do well with a light box to photograph their products while minimizing shadows. You can get it done professionally in photo studios or companies that does things like making brochures, advertising, making websites like Seedworks.

Alternatively you can buy your own lightbox or the PBL Portable Light Tent Kit and do the photography yourself.

Here are a videos showing how such a lightbox can be set up: Mini lightbox

If you don't want to sit through the long videos, here are a series of photos to show you how to set it up:

Step 1:
Mini lightbox: Open up portfolio like case
Open up portfolio like case

Step 2:
Mini lightbox: Flip open black flap and set aside cloth backgrounds
Flip open black flap and set aside cloth backgrounds

Step 3:
Mini lightbox: Flip open single white flap
Flip open single white flap

Step 4:
Mini lightbox: Flip open second double flaps
Flip open second double flaps

Step 5:
Mini lightbox: Attach and join velcro strips at sides
Attach and join velcro strips at sides

Step 6:
Mini lightbox: Turn upside down
Turn upside down

Step 7:
Lay lightbox on flat surface like a tabletop
Lay lightbox on flat surface like a tabletop

Step 8:
Mini lightbox: Attach colored cloth background using the velcro strips
Attach colored cloth background using the velcro strips

Step 9:
Mini lightbox: Add lights
Add lights

Wednesday, October 22, 2014

Advantages of drinking water in the morning

Spotted in one of the dining areas in Google Singapore in Asia Square is this poster about the advantages fo drinking water in the morning, listed below:

#5 - Drinking water on an empty stomach purifies the colon making it easier to absorb nutrients.

#4 - Increases the production of new blood and muscle cells

#3 - Helps with weight loss. Drinking at least 16 onces of chilled water can boost your metabolism by 24% in the morning.

#2 - Glowing skin. Water helps to purge toxins from the blood which help keeps your skin glowing and clear.

#1 - Balances your lymph system. These glands help you perform your daily functions, balances your body fluids, and fight infection.

www.undergroundhealthreporter.com

drink water spotted in Google Singapore
Drink water spotted in Google Singapore