Similar Posts
Accounting v28.1 and Premier v23.1
Released September 2019 In this release, ABSS have extended tariff code selection into all types of Sales layout.Also included are SST compliance updates and some minor enhancements. New SST tax types New SST tax types, as shown in the table below have been added for use in line with Royal Malaysia Customs Department (RMCD) requirements…
HRDF Levy
In March 2021, the existing HRDF levy was extended to cover all industries, with employees of 10 or more. Business that fall into this category are required to register and make contributions towards the HRD fund. The rate of levy depends on the number of Malaysian employees as follows: Number of employees Registration Rate of…
ABSS Payroll v12
Released January 2021 Compliance updates Personal income tax rate update Tax calculations have been updated in line with the budget that was tabled. These rates come into effect from 1st January 2021. The tax rate for resident individuals with chargeable income in the band of RM50,001 to RM70,000is reduced to 13%. See below for the…
ABSS financial analysis report
With the release of ABSS Accounting v28.3 and ABSS Premier v23.3, ABSS included a financial analysis report. This report helps business owners understand how their business is performing and identify areas that would need improving. Before you can start using this report, you will need to set it up within your company file. Edit account…
ABSS Accounting & ABSS Premier v30
ABSS has released v30 of both ABSS Accounting and ABSS Premier to ensure compliance with the increase of Service Tax rate from 6% to 8% from 1st March 2024. For more details on the increase, see Service Tax 2024. The new releases include the following service tax codes: D08 Service tax 8% on own use…
ABSS Payroll v11
Released January 2020 Personal Income Tax Rate Update Tax calculations have been updated to comply with the new changes as announced in Malaysian Budget 2020. A new chargeable income band now introduced for resident individual with income exceeding RM 2 million. The fixed income tax rate for non-resident individuals is increased from 28% to 30%…