The following PASSIT Management Consultancy Sdn Bhd updates are stipulated below: -

Please CALL or E-Mail us at 603-7980 4985 or passitmy@pd.jaring.my or passitmy@passitmy.com for more information.

1. Malaysian Securities - The Securities Commission of Malaysia has issued various Guidelines, Guidance Notes and Practice Notes pertaining to prospectuses, Islamic REIT, Unit Trust Funds and basis for pricing of securities

2. Malaysia - Anti-Money Laundering Act : New activities are added to the list of activities to be identified and reported by a reporting institution.

3. Malaysia - Listing requirements - Bursa Malaysia Securities Berhad had amended the listing requirements pertaining to Related Party Transactions.

4. Malaysian Tax - Two new Public Rulings issued by the Inland Revenue Board - Withholding Tax on Special Classes of Income and Deduction For Loss of Cash and Treatment of Recoveries

5. Malaysian Tax - New products / activities have been added to the list of promoted activities and promoted products for High Technology  and Small Scale companies.

6. Malaysian Tax case - Mount Pleasure Corporation Sdn Bhd v Ketua Pengarah Hasil Dalam Negeri - valuation of land for Income Tax purposes.

7. China - Mergers and acquisitions - greater clarity on the rules pertaining to overseas investments by residents of China.

8. Papua New Guinea - The 2006 National Budget with the theme, "Improving people's lives through strong economic leadership" was announced in November 2005.

9. Australian tax - Improvements to the self assessment legislation allowing the Australian Tax Office a shorter time for amended assessments.

10. Malaysian Tax - The Inland Revenue Board has issued new and updated forms.

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