Thursday, 6 December 2012

To watch free chinese movies

http://frankiechuah-frankiechuah.blogspot.com/

SUNDAY, NOVEMBER 4, 2012

Friday, 23 November 2012

Tax free investment - MIM Enhanced Cash XIII Fund

http://www.maybank-am.com/documents/15019/29536/MIMECXIII_August2012.pdf

FUND FACT SHEET AUGUST 2012

MIM Enhanced Cash XIII Fund ("MIMECXIII" or "the Fund") is a Short Term money market fund that aims to:

invest in instruments which generate tax exempted income
provide regular income that is potentially higher than prevailling money market and traditional fixed bank deposits
provide stability of capital and a high level of liquidity.

Sunday, 18 November 2012

How to apply for a tax agent license ?

http://www.mia.org.my/new/faqs.asp

Q19. How do I apply for a tax agent licence?

There are certain qualifications recognised by the Ministry of Finance in order to apply for a tax agent licence under section 153 of the Income Tax Act, 1967 with relevant years of tax experience.

The tax agent licence application (Borang EC) and renewal form (Borang EC1) may be obtained from
a) the Institute (MIA) or
b) the Ministry of Finance or
c) downloaded from the MIA or
d) Treasury website.

Further enquiries with regards to the tax agent application/renewal, please refer with the officer-in-charge, Cik Nik Nur Firdaus binti Abu Bakar from Tax Analysis Division of MOF at 03-8882 4308 (DL).

Wednesday, 7 November 2012

Who is Xie Wan Ying ?

http://www.bingxin.org/databank/sp/jjen.htm
She is a Chinese writer in Fuzhou.

1923 - graduated from Yanjing University
1923-5 -went to the US to further her study in literature at Wellesley College & finished her
Master’s Degree.
1926 -1936 teacher of Chinese Literature at Yanjing University,
1929 - married
1947 - went to Japan and taught a course at Tokyo University
1960s - visit Europe, Asia, and Africa as member of Chinese Writers Association

A Short Biography of Xie Bingxin

Bingxin, a distinguished contemporary writer, poet, translator, and social activist, was born Xie Wanying on Oct.5, 1900, in Fuzhou, Fujian Province, to the family of a patriotic naval officer. During the May Fourth Movement, a patriotic student movement against foreign aggression and for new culture, she was a student at Yanjing University, was elected secretary of the Students’ Union, and took an active part in the publicity work for the Beijing Federation of Women Students. Greatly inspired by the movement, she began contributing to the newspaper Chenbao (Morning Paper). After she graduated from Yanjing University in 1923 with a Bachelor’s Degree, Phi-Beta-Kappa, she went to the United States to further her study in literature at Wellesley College and finished her postgraduate study with a Master’s Degree. Her M.A. Thesis was An English Translation and Edition of the Poems of Lady Li I-an (1926), a distinguished woman poet of the Sung Dynasty. In 1926, Bingxin returned to China to teach Chinese Literature at Yanjing University, a post she held until 1936. In 1929, she married Wu Wenzao, one of the founders of anthropology in China and widely respected in that field.

Bingxin had never stopped writing, contributing all her life to various papers and journals. She wrote a lot about her life and experience in the United States, from her journey there to the end of her stay. Those essays were later collected and published under the title of Letters to Young Readers, which has won her great popularity. As well as being educated in America, in 1947,Bingxin went with her husband to Japan where she taught a course on the New Chinese Literature at Tokyo University. She returned to China in 1951. In 1960,as a member of the Chinese Writers Association, she paid visits to various countries in Europe, Asia, and Africa to promote international cultural exchanges.

Bingxin’s literary involvement covers a wide spectrum. Her achievements in writing for children are the most significant and her influence has been widespread. Letter to Young Readers in the 192Os,More Letters to Young Readers in the 1950s and Still More Letters in the 1970s have stimulated and educated generation after generation of young 20th century readers.

Her most salient literary achievements are in prose, which constitutes the bulk of her writing, A Smile in the 1920s, A Little Orange Lantern in the 1950s, Ode to Cherry Blossoms in the 1960s are modern prose classics. In the spirit of" Life Begins at 80", she had continued her writing into her later years. In the 1980s,she completed a series of prose writings, for example, About Men. Since 1985 she had been writing reminiscences, short stories, prose, essays, which have stimulated great interest and response on the part of her many readers.

Bingxin was one of Chinese poets in the early time of the 20th century. Two collections of her poems A Maze of Stars and Spring Water, published in the 1920s,were so unique that the style was named 'Bingxin Style' after her. She blazed a trail in modern poetry and ushered in a period of 'popular short poems'.

In fiction, her 1920s short stories describing social problems, Two Families and A Frustrated Man, found an echo in the hearts of many readers. In 1981,her short story An Empty Nest won the National Best Short Story Award.

As a translator, Bingxin had translated Tagore's collected poems Gitanjali (Song Offerings) and The Gardener. She was the first to translate the Lebanese Poet Kahil Gibran' s collected poems The Prophet and Sand and Foam into Chinese in the early 30s and 60s respectively. In recognition of her contribution to cultural exchange and friendship between China and Lebanon, the President of Lebanon conferred a National Decoration on her in 1995.

On the 20th century literary scene, Bingxin had emerged as a unique Chinese woman writer in terms both of her achievements and of the fact that her creative writing had spanned the century from the 1920s to the 1990s. Her works teem with wisdom, purity, sincerity, noble ideals, love for the young and for the nation. Her writings have faithfully recorded the experiences and lessons of the 20th century. She was a woman of integrity and principle, keeping her dignity and upholding her lofty ideals. She had taken things philosophically and viewed life optimistically, looking always on the bright side of things. As the saving has it: ‘the writing reflects the writer’Bingxin' s writing, like a maze of stars in the sky or a pond of spring water when winter comes to an end, relieves thirst, brings comfort, and will exert a lasting influence on readers, generation after generation.

Sunday, 4 November 2012

Cost of doing business in Malaysia

http://www.mida.gov.my/env3/index.php?page=taxation

Costs of Doing Business

Taxation

Income of any person including a company, accruing in or derived from Malaysia or received in Malaysia from outside Malaysia is subject to income tax. However, income received in Malaysia by any person other than a resident company carrying on business of banking, insurance or sea or air transport for a year of assessment derived from sources outside Malaysia is exempted from tax.

To modernise and streamline the tax administration system, the self-assessment system was implemented for companies, sole proprietor, partnerships, cooperatives and salaried groups and the assessment of income tax is based on a current year basis.

Company Tax
Resident and non-resident companies		25%
Resident companies with paid-up capital of RM2.5 million (US$781,250) and less at the beginning of the basis period for a year of assesment
•	on the first RM500,000 (US$156,250) chargeable income	20%
•	on subsequent chargeable income	25%

Petroleum Income Tax
A person who signed Petroleum Agreement with Petronas or Malaysia-Thailand Authority and carry out petroleum operation		38%
'Chargeable person' means:
•	Petroleum Nasional Berhad
•	Malaysia-Thailand Joint Authority, or
•	Any person carrying on petroleum operations under a petroleum agreement with (a) or (b)
'Person' includes a company, a partnership or other body of person and corporate sole.
"Petroleum operations" means searching for, winning or obtaining of petroleum in Malaysia (by drilling, mining, extracting etc), all operations incidental thereto and sale or disposal of petroleum so won or obtained, transportation within Malaysia of petroleum so won or obtained to any point of sale or export but excludes transportation outside Malaysia; refining or liquefing; dealing with products so refined or liquefied; service involving the supply and used of rigs, derricks, ocean tankers and barges. From the year of assessment 2010, the assessment system under PITA has changed to the current year basis and the self assessment system.

Personal Income Tax
Resident individuals with chargeable income of RM16,667 (US$5,208) and above per annum (after deduction of personal reliefs)	1% - 26%
Non-resident individuals (not entitled to any personal reliefs)	26%

Withholding Tax
Non-resident persons individuals are subject to final withholding tax based on classes of income such as:
•	Special classes of income (use of moveable property, technical services, installation services on the supply of plant and machinery, etc.)		10%
•	Interest		15%
•	Royalty		10%
•	Contract payment on:
	-	account of contractor	10%
	-	account of employee	3%
* Other income such as commission, guarantee fees, agency fees, brokerage fees, introducers fees etc.			10%

Sales Tax

Sales tax is imposed on certain imported and locally manufactured goods under the Sales Tax Act 1972. The tax rate ranges from 5 - 10% for majority of the goods except for food preparations other than alcoholic and non-alcoholic compound preparations (other than those of heading No. 33.02) used for making beverages which falls under the tariff code 2106.90.490 with a tax rate of 20%.

Sales tax is also imposed on petroleum and petroleum products according to specific rates

5% - 10%

Service Tax

Service tax is imposed on taxable services provided by taxable persons. Services include services provided by professionals (such as lawyers, engineers, architects, surveyors and consultants), advertising firms, private hospitals, insurance companies, communication companies, hotels and restaurants.

In the case of taxable service relating to credit card or charge card services

i. RM50(US$15.63) - shall be charged for each principal, on the date of the issuance, or on the date of renewal; and every twelve months thereof after the issuance of the card.

ii. RM25(US$7.82) - shall be charged for each supplementary card holder, on the date of the issuance, or on the date of renewal; and every twelve months thereof after the issuance of the card.

Excise Duty
Excise duty is levied on imported and locally manufactured goods under the Excise Act 1976. The goods are listed under the Excise Duties Order 2004. Goods include:
Goods		Duty Rate
•	Motorcars	75% -105%
•	4-wheel drive	60% -105%
•	Motorcycle	20% -30%
•	Intoxicating liquor	RM0.10 + 15% per litre -RM42.50 per 100% vol per litre + 15% RM0.22
•	Cigarettes	RM0.19 per stick + 20%

Source: Royal Malaysian Customs - www.customs.gov.my

Rates of Capital Allowance
Capital allowances are given on qualifying capital expenditure. Initial allowances are given only once while annual allowances are given every year by the straightline method. Some of the items accorded allowances are shown below. For plant and machinery, companies are advised to verify with the Inland Revenue Board on the specific items which qualify.
Capital Expenditure		Initial Allowance	Annual Allowance
•	Industrial buildings	10%	3%
•	Plant and machinery	20%	14%
•	Heavy machinery and motor vehicles	20%	20%
•	Computer and IT equipment	20%	40%
•	Environmental control equipment	40%	20%
•	Others	20%	10%

Source: Inland Revenue Board - www.hasil.gov.my

Deloitte International Malaysian Tax Guide May 2012

http://www.deloitte.com/assets/Dcom-Malaysia/Local%20Assets/Documents/Tax/Malaysia%20Country%20Tax%20Guide%202012.pdf

Invest in Malaysia-MIDA

http://www.mida.gov.my/env3/

International Tax and Business Guide

http://www.deloitte.com/assets/Dcom-Malaysia/Local%20Assets/Documents/Tax/Malaysia%20Country%20Tax%20Guide%202012.pdf

A publication of Deloitte Touche Tohmatsu Limited
International Tax and Business Guide
Connecting you to worldwide information
This Guide was updated in May 2012

Contents
1.0 The investment climate
1.1 Economic structure
1.2 Banking and financing
1.3 Foreign trade
2.0 Business regulations
2.1 Registration and licensing
2.2 Price controls
2.3 Monopolies and restraint of trade
2.4 Intellectual property
2.5 Mergers and acquisitions
3.0 Foreign investment
3.1 Foreign investment incentives and restrictions
3.2 Exchange controls
4.0 Choice of business entity
4.1 Principal forms of doing business
4.2 Establishing a branch
4.3 Setting up a company
5.0 Business taxation
5.1 Overview
5.2 Taxable income and rates
5.3 Capital gains taxation
5.4 Withholding tax
5.5 Foreign income and tax treaties
5.6 Transactions between related parties
5.7 Turnover and other indirect taxes and duties
5.8 Other taxes
5.9 Tax compliance and administration
6.0 Personal taxation
6.1 Residency
6.2 Taxable income and rates
6.3 Special expatriate tax regime
6.4 Capital taxes
7.0 Labour environment
7.1 Employees’ rights and remuneration
7.2 Wages and benefits
7.3 Termination of employment
7.4 Labour-management relations
7.5 Employment of foreigners
8.0 Office locations

Website Development

For more information about web development, please contact us via phone or email.

We will reply soonest possible.

Our Information Technology Division is ready to discuss and assist you in website planning whether for your company website or personal website. The design of the website will be based on your preference.

Website is one of the way to market your business and act as a communication tool. With the development of your website, you are one step nearer to your business expansion.

Please contact:

Global Biz Advisory Services
e-mel: njoilife100@gmail.com

Management Services

http://www.registeracompany.com.my/management.do

Management Services

We also provide the following services:

Accounting services for backlog accounts
Taxation services for individual and company specialised in handling tax audit and tax investigation
Preparation for bank loan paper
Managing financial problem company
Registration with MOF, PKK
Manufacturing license with MIDA
Goods & Services Tax Services

Our charges are very reasonable. For further information please call us at:

Spektra Management Sdn Bhd

Accounting & Bookeeping Services

http://www.registeracompany.com.my/accounting.do

Accounting & Bookeeping Services

All companies need to keep proper accounting records and produce financial report for the following purpose:

For statutory requirements.
For business and management purposes.

STATUTORY REQUIREMENTS

Companies Commission of Malaysia (CCM), as provided by the Company Act 1965
Inland Revenue Department, as provided by the Income Tax Act 1967

FOR BUSINESS AND MANAGEMENT PURPOSES

For auditor
For management to analyst the company’s performance
To help management preparing company’s budget and planning
To help management preparing company’s tax planning
For shareholder and investor to analyst the performance and potential of the company
For bankers to see the potential and reliability of the company
For suppliers or creditors

ACCOUNTING AND BOOK KEEPING SERVICES

Our services includes maintaining daily accounting records or updating accounts periodically i.e. monthly, quarterly, half yearly, annually or updating backlog accounts. These include the followings:

Collecting and recording of all business transactions data.
Transactions include sales, purchases, receipts and payment.
Records books include sales book, purchase books, general ledger, cash book, journals, register book, etc.
Documents include sale invoices, purchase invoices, payment vouchers, cheques, etc.

Upon completion we will produce the following reports for you.

Trial balance
Trading and Profit & Loss Account
Balance Sheet
Debtors Aging report
Creditors Aging Report
Bank Reconciliations
Fixed Asset Schedule
Any other related schedules

All records and report format is based on standard accounting practice in Malaysia. The accuracy and correctness of the account however will depend on the information and documents made available to us.

FEES AND CHARGES

Accounting fees are based on volume of works done. It is based on estimated numbers of transactions involves which include number of cheques issued, receipts, number of sales invoices, purchase invoices, journals, etc. We will examine all documents available and analyst all the information before giving our estimate or quotation. Only upon agreeing to our estimate or quotation we shall start our works. The works can be done at our office or at your offices. The fee does not include any incidental out of pocket expenses incurred by us while performing our job.

Please call
Spektra Management Sdn Bhd
Tel: 03-8024 0255 or 016-6296 550 (Hema)
Fax: 03-8024 7833
e-mail: mag@spektra.net.my