Malaysia was able to contain the initial wave of COVID-19 successfully. Many strengths and weaknesses across all sectors were revealed, with lessons learned. Throughout, the central focus was the health of Malaysians while balancing the needs of the nation’s economy.
Against this backdrop, Tan Sri Dr. Jemilah Mahmood, Special Advisor on Public Health to the Prime Minister of Malaysia, engaged with AMCHAM members today on 5 August 2020 in an insightful session on building a resilient and sustainable healthcare system in the country in the context of today’s shocks and disruption in the form of future pandemics and other threats such as climate change.
She presented her views and ideas for Malaysia’s health policies and initiatives, spanning public-private partnerships, international benchmarking exercises, and an all-inclusive health insurance system.
This was followed by a frank and candid discussion with a group of panelists consisting of AMCHAM member companies. They were Dave Mitchell, Vice President and General Manager of Boston Scientific, Shakilla Shahjihan, Divisional Vice President in Asia Pacific & Japan of Abbott, Chin Keat Chyuan, Managing Director of Johnson and Johnson and President of the Pharmaceutical Association of Malaysia (PhAMA), and Nesha Armo, Associate Director of Market Access, Government Relations, Policy and Communications of Merck, Sharp & Dohme (MSD).
The panelists represent the start of an AMCHAM Healthcare Committee which will bring together AMCHAM members across the healthcare spectrum to address the opportunities and business realities of this wide-ranging sector.
A special mention goes to participants who had actively participated with a live stream of comments and questions which organically developed the discussion.
We express our utmost appreciation to Tan Sri Dr. Jemilah Mahmood for joining us.
Kuala Lumpur, 5 August 2020 – Gibraltar BSN Life Berhad (“Gibraltar BSN”), one of Malaysia’s fast growing life insurance companies, was recently awarded with the Educational Achievement Award and Excellence in Education Award by LOMA, a worldwide professional development trade association serving the financial industry.
The 2020 LOMA Educational Achievement Award honours its top 15 member companies in the Asia Pacific Region that proactively utilises LOMA’s Education and Training programmes as reflected in their total number of exam enrolments in 2019. As for the 2020 Excellence in Education Award, only 32 out of the 900-odd LOMA member companies worldwide were selected for this prestigious award.
The awards are testament to the life insurer’s continuous efforts and investments in building a diverse talent force capable of driving forward its ambition to become Malaysia’s Community Protection Champion. To further strengthen its talent agenda and foster an agile working culture, the Company will continue its focus on building and growing talent while also actively collaborating with employees to map their learning and development journey.
Rangam Bir, President and Chief Executive Officer of Gibraltar BSN Life Berhad said, “The emphasis on talent agenda was the key to unlocking the full potential of Gibraltar BSN. Our commitment to invest heavily and build capabilities in our workforce has not only deepened our talent pool of employees who are ready for upward mobility but has also generated sustainable long-term business growth. Gibraltar BSN’s success and recent achievements are attributable to our strong talent and the commitment to excellence culture that we have cultivated in our company.”
Earlier this year, regional insurance publication InsuranceAsia News named Gibraltar BSN as Malaysia’s Digital Insurer of the Year following its introduction of the first-in-market WhatsApp e-Policy delivery system and automated Chatbot GINA (Gibraltar INtelligent Assistant).
Gibraltar BSN also bagged the Best Employer Brand for Malaysia, Asia and Worldwide by Employer Branding Institute (EBI) in 2019. The Awards recognises top organisations that have used marketing communications effectively in attracting, retaining, and developing talent.
LOMA is a worldwide trade association for the insurance and financial services industry. For nearly 100 years, LOMA has been providing globally-recognised designations, educational resources and products that teach, illuminate new ideas, and ignite potential in its members’ organisations.
The Royal Malaysian Customs Department (“RMCD”) has released an updated Guide on Digital Services by Foreign Service Provider (“FSP”) as at 1 August 2020, via the MySST portal, to provide further guidance on Service Tax on Digital Services (“SToDS”) matters in Malaysia.
EY outlines key highlights of the updated Guide below:
| Types of digital services that are not subject to service tax | As prescribed in the Service Tax Policy No.4/2020 – Service Tax on Online Distance Learning Services, effective 1 January 2020, the following digital services provided by a FSP are not subject to service tax: ► Online distance learning – preschool education, primary and secondary education or tertiary education including vocational education and professional training which is recognized by the relevant authority in such country; and ► Online newspapers, online journals and periodicals – printed digital version of newspapers (i.e. under the tariff codes of 4902.10 and 4902.90) and online journals and periodicals (i.e. under the tariff codes of 4902.90.10 00 and 4902.90.90 00) |
| Clarification on a FSP who sells digital services on behalf of a service provider through an online platform | An online platform operator who makes transactions for the provision of digital services on behalf of any service provider would be considered a FSP if the online platform operator satisfies any of the following conditions: ► Authorized to set the terms and conditions of the underlying transactions; ► Has a direct or indirect involvement in the payment processing; ► Has a direct or indirect involvement in the delivery of the digital service; ► Provides customer support services in relation to the supply or provision of digital services; or ► Issues invoices or any other documents to the consumer, to whom the supply is identified as made by the online platform operator |
| Digital service provided within the same group of companies | Pursuant to Regulation 5A, Service Tax (Digital Service) Regulations 2020, where a foreign registered person (“FRP”) provides digital services to a company in Malaysia within the same group of companies with the FRP, such services shall not be subject to service tax, effective 14 May 2020. However, where the FRP provides the same digital services to any company outside the group of companies, such digital services provided within or outside the group of companies will be subject to service tax.
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| Calculating the value of digital services for registration purposes
| The updated Guide also provides additional guidance and examples for calculating the value of digital services for registration purposes, for the following categories: ► Online platform operator (who qualifies as a FSP); and ► A FSP who sells directly to consumers in Malaysia and indirectly through an online platform operator |
| Issuance of debit notes and credit notes | ► FRPs who issue debit notes shall declare the service tax amount in the taxable period in which the debit notes are issued or payments are received. ► FRPs who issue credit notes in relation to a digital service which was previously accounted for shall amend the DST-02 return related to the period for which service tax has been paid. A refund application is required to be submitted in order to claim such service tax. |
| Refund of service tax, penalty, fee or other money | ► The Director General (“DG”) may grant a refund of service tax, penalty, fee or other money, for the following: ► Where a person has overpaid or erroneously paid; or ► Where a person is entitled to the refund according to Section 34(6) or 40(3) of the Service Tax Act 2018 ► The application for a refund shall be made through the MySToDS system by completing the DST-ADM01 Form, and submitting the same with the relevant supporting documents. ► The refund should be applied for separately according to the respective taxable periods and should be applied for within one year after the overpayment or erroneous payment has occurred, or upon the entitlement of a refund. ► For any service tax, penalty, fee or other money which has been erroneously refunded by the DG, the DG shall demand the whole or part of the amount from the person and such demand must be made within six (6) years from the date when the refund was made. |
The full version of the above-mentioned Guide issued by the RMCD can be found in the official link of the MySST Portal.
Visa continues to drive economic growth and improve lives through the global electronic payments network that we run and the products we offer. We also believe in using the power and assets of Visa to strengthen our local communities and be a global citizen. For over 20 years, Visa has been a private sector leader in developing innovative and free financial literacy programmes that help people effectively learn the fundamentals of personal finance, including budgeting, saving, responsible spending and using credit wisely. In Malaysia, we have been introducing meaningful financial literacy initiatives with our key partners for several years. We continue to partner with Credit Counselling and Debt Management agency, AKPK to reach out to young Malaysians using financial education board games, mobile apps and websites to teach them the important concepts of money management.
In addition to creating financial literacy programmes, Visa has also been encouraging employees to donate to their charities of choice since 2008 by providing a programme to match their philanthropic generosity. In 2017, employee volunteers from 79 Visa offices contributed 34,000 hours to nearly 350 non profit organisations at more than 600 separate events.
Join #MyMudah programme now! A structured and effective strategy that would improve national regulatory quality in direct response to regulatory challenges faced by businesses and other stakeholders in the wake of the COVID-19 crisis. It was announced by the Minister in Prime Minister’s Department Datuk Seri Mustapa Mohamed on July 21, 2020.
Watch the video below to learn more.
For more information visit http://upc.mpc.gov.my
Wong & Partners is committed to gender equality, and along with HR policies meant to support the careers and wellbeing of our women colleagues, the Firm also marks and hosts events towards this aim. We celebrate International Women’s Day annually and have hosted events such as the Annual Diversity & Inclusion Luncheon, which includes talks by renowned and successful women such as human rights activist and lawyer Ambiga Sreenevasan. The Firm also recently hosted a Breast Cancer Awareness day, which comprised of a doctor’s talk, survivor’s story and clinical examinations.
