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September 5, 2018 2:57 AM Telcos told to stop charging SST on prepaid reloads by MoF

PETALING JAYA: Telecommunications companies have been instructed to stop charging the Sales and Services Tax (SST) on Malaysians for the purchase of prepaid reloads. The Finance Ministry said this tax exemption on prepaid services was to address the issue of companies having difficulties in adjusting their systems in view of the SST implementation on Sept 1. The ministry 17

September 2, 2018 10:26 AM Modified cash accounting system also shows RM16b missing: Lim

PUTRAJAYA: A total of RM16 billion of unreturned taxes has remained missing from the Fund for Tax Refund Trust Fund (TBBC) regardless of whether the government uses the modified cash basis or the accrual accounting system, according to Finance Minister Lim Guan Eng. Responding to former prime minister Datuk Seri Najib Abdul Razak's Facebook post, he said according 32

August 30, 2018 6:58 AM RHB grows Q2 net profit by 12.2% on higher net interest income and lower credit losses

PETALING JAYA: RHB Bank Bhd grew second quarter ended June 30, 2018 net profit by 12.2%, on higher net interest income, income from Islamic banking business and significantly lower credit losses. Lower credit losses was mainly due to a RM19.0 million charge for equity instruments designated at fair value through other comprehensive income for the quarter 9

August 24, 2018 11:41 AM IRB confirms RM16.046b unreturned tax refunds

PETALING JAYA: The Inland Revenue Board (IRB) today confirmed that the previous government did not return a total of RM16.046 billion in excess income tax and real property gains tax as at May 31, 2018 to taxpayers, mainly due to the shortfall in the Tax Refund Fund (TBBC). This, it said, involves 1.65 million cases comprising companies, individuals 9

August 14, 2018 5:00 AM Ideas: Easing monetary policy, fiscal stimuli not the right move

PETALING JAYA: Easing monetary policy and introducing fiscal stimuli to support consumption may not be the right way to prepare Malaysia for its first recession since 2009, said the Institute for Democracy and Economic Affairs (Ideas). Ideas senior fellow Dr Carmelo Ferlito was responding to Bank Islam Malaysia chief economist Dr Mohd Afzanizam Abdul 9

August 8, 2018 3:59 PM Government to refund GST input tax credit next year

KUALA LUMPUR: Finance Minister Lim Guan Eng said the Pakatan Harapan government will seek to refund the input tax credit under the Goods and Services Tax (GST) starting next year. He revealed that the GST input tax credit refunds since its implementation in April 2015 until May 31 this year, totalled RM19.4 billion. He said according to records of the Royal 9

August 7, 2018 9:59 AM Socso launches Social Synergy Programme

KUALA LUMPUR: The Social Security Organisation (Socso), in collaboration with four agencies, has launched the Social Synergy Programme to further improve Socso beneficiaries' economic standing and quality of life. The four agencies are Credit Counselling and Debt Management Agency (AKPK), Giat Mara, Amanah Ikhtiar Malaysia (AIM) and Malaysia Digital 24

August 4, 2018 8:10 AM Higher credit score, bargain for lower interest rate: RAMCI

KUALA LUMPUR: It is widely known that a higher credit score could help grant an individual better offers for credit cards, a housing loan, a car loan or a mortgage. However, not known to many Malaysians, a better credit score could also be used as a bargaining chip to negotiate with banks for lower interest rates, be it for a mortgage, a car loan or credit 11

August 3, 2018 7:30 AM EPF CEO Shahril appointed Khazanah MD

PETALING JAYA: Khazanah Nasional Bhd today announced that Datuk Shahril Ridza Ridzuan has been appointed as its managing director. In a statement released by the sovereign wealth fund today, it said Shahril will assume the post on Aug 20. Shahril, 48, is currently the Chief Executive Officer of the Employees Provident Fund (EPF), having been appointed 12

August 1, 2018 10:31 AM Erdogan accuses US of 'evangelist, Zionist mentality' in pastor's case

ANKARA: President Recep Tayyip Erdogan on Wednesday vowed Turkey would not give into threats from the US over the case of an American pastor being tried on terror charges, accusing Washington of showing an "evangelist, Zionist mentality". Andrew Brunson, who led a Protestant church in the Aegean city of Izmir, is at the centre of one of the most bitter 13