LEGAL SYSTEM: Malaysia’s laws are mainly a combination of Commonwealth-based common law and codified law. Whilst Malaysia consists of 13 states and three federal territories, the federal constitution is the paramount law of the land and clearly demarcates the boundaries between federal and state...
THE CORPORATE ENVIRONMENT: The Economic Transformation Programme (ETP) was launched on September 25, 2010 by the government to transform Malaysia into a high-income economy by 2020. It is aimed at lifting Malaysia’s gross national income per capita from $6700 in 2009 to more than $15,000 in 2020....
On October 25, 2013, Malaysian Prime Minister Najib Razak delivered his 2014 budget speech and made a bold announcement that a goods and services tax (GST) of 6% will be effective in Malaysia as of April 1, 2015. GST is considered necessary to tackle the country’s budget deficit and to provide a stable source of revenue to Malaysia and avoid...
I. INCOME TAX: Malaysia operates a self-assessment system of income tax. This requires taxpayers to be responsible for computing the correct amount of taxes as the tax returns filed are deemed to be the official notice of assessment. The Inland Revenue Board (IRB) through regular tax audits carries...
Just as low-cost airlines helped broaden access to air travel in South-east Asia, Malaysian entrepreneurs now see a unique opportunity to provide quality health care to all citizens in ASEAN and beyond. One of the most ambitious and far-reaching projects in this sector is the proposed International Medical Campus (IMC) at Kuala Lumpur...
Universities in Malaysia have been given a key role in government plans to raise the country to developed-nation status by 2020. However, much more investment will be necessary if higher education institutions are to meet the targets the state has set.
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