In collaboration with the EU-funded programme WeEmpowerAsia of UN Women, LeadWomen is inviting Malaysian and Malaysian-based corporates to expand on their gender diversity efforts by joining the upcoming Women’s Empowerment Principles (WEPs) training programs.
If you and your company have:
- Attended the WEPs Awareness Training (5 Nov 2020, 26 January and 25 February 2021)
- In the process of or completed the Gender Gap Analysis Tool
- Considering to or already are WEPs Signatory
We would like to invite you to this limited Implementation Training starting from 18 March 2021!
The Implementation Training will happen in two phases, where two pillars will be addressed in each phase, with 3-4 months in between phases. The pillars that will be covered are Leadership, Workplace and Marketplace . The Leadership pillar will be a compulsory module to attend as it covers the necessary foundation for the implementation of the WEPs. Workplace and Marketplace will be optional modules as different companies would have different focus areas and interests.
There will two programme options to choose from of:
Option 1: Leadership and Workplace
Option 2: Leadership and Marketplace
Each option will have two intakes, you are only needed to choose ONE that is most suitable for you and your team.
Intake Dates:
Option 1A: Leadership and Workplace – March 18 and April 27
Option 1B: Leadership and Workplace – March 25 and April 27
Option 2A: Leadership and Marketplace – March 18 and June 10
Option 2B: Leadership and Marketplace- March 25 and June 10
Limited seats available to this one-time opportunity
For more information, click here
The Finance Act 2020 has introduced some major changes to the transfer pricing regime in Malaysia, effective 1 Jan 2021. These changes would have implications for all open years of assessment. The amendments entail, among other things:
1. Tightening compliance requirements around contemporaneous and quality TP documentation through the introduction of stringent penalties;
2. Introduction of a surcharge that would be imposed on the transfer pricing adjustment imputed by the IRB and would also impact companies having tax attributes such as unabsorbed CA, business losses, incentives, etc.
3. Fortified power of the IRB to re-characterise transactions which will increase scrutiny by the IRB towards aggressive tax planning structures, disregard interest-free loans, re-characterise loan into equity, etc.
Join in the conversation as Deloitte transfer pricing practitioners and the Director of the Multinational Tax Branch of the Inland Revenue Board of Malaysia (“IRBM”) share their perspectives on the transfer pricing proposals in the Finance Bill 2020 and current trends.
Date: 18 march 2021
Time: 10.00 a.m. – 11.30 a.m.
Speakers
The BMCC in collaboration with The British High Commission Kuala Lumpur (BHCKL) will be organising a webinar titled “The time is now: Race to Zero” on the 25th March 2021 (Thursday) from 4.00 pm – 5.45 pm via Zoom platform. This webinar is intended to socialise the R2Z campaign in Malaysia as a support for the UN Climate Change Conference, CoP26 hosted by the UK Government in partnership with Italy. It also aims to highlight the shift to a zero-carbon future is now happening globally by gathering corporate figures showing their leadership in addressing climate change.
Since AMCHAM is a supporting partner, AMCHAM members will have complimentary access to the webinar.
EY has released their latest tax alert. This issue (No. 5/2021) covers:
Malaysian developments
- Updated tax collection framework
- Malaysia deposits instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
- Frequently Asked Questions on special deduction on rental discounts given to tenants
- Stamp duty exemption for small and medium enterprises on any instrument executed for mergers or acquisitions
- Guidelines on establishing a Labuan company management business
- Remission of tax and stamp duty
Overseas developments
- Thailand enacts new VAT rules for foreign e-business and digital services
- Hong Kong: 2021/22 Budget Proposals
AMCHAM member LAM Research Corporation held its Roof Topping Out Ceremony today, 8 March. The event was held virtually and was launched by Chow Kon Yeow, Chief Minister of Penang.
Hosted by Mike Snell, Vice President of Operations, International Operations Management & Optimization, and Soon K Kuek, General Manager and Senior Director of Lam Manufacturing Malaysia, AMCHAM was delighted to be invited and represented by our Chief Executive Officer, Siobhan Das.
Last year, Lam Research invested a total of US$225 million for a new manufacturing facility at Batu Kawan Industrial Park, Penang. This facility is not only Lam Research’s first and only manufacturing facility in Southeast Asia but also the largest among all of Lam Research’s facilities.
Part of the reason as to why Malaysia was chosen was due to top-notch technology and technical skill sets, and also reasonably good language skills. Also, the level of maturity in the country’s electrical and electronics (E&E) sector is very encouraging.
Penang Science Park, Penang, 8 March – Jabil Circuit Sdn. Bhd. and Inari Amertron Berhad, key players in the Electrical & Electronics (E&E) industry in the Northern Corridor Economic Region (NCER), have recruited close to 2,000 job seekers in a strategic collaboration with the Northern Corridor Implementation Authority’s (NCIA) JomKerja@NCER programme.
Since the programme was launched in August 2020, JomKerja@NCER has helped create close to 5,000 job opportunities in the manufacturing, services and abgribusiness sectors, with more than RM21 million in incentives committed by NCIA to over 100 businesses operating in the NCER. Penang and Perak are leading the way in jobs created with 66.8% and 21.1% respectively; whilst Kedah and Perlis following at 7.3% and 4.8% respectively.
