Taxation


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India needs its own Canary Wharf

Even as India is consumed by its upcoming elections, the world’s biggest, the country is nearing another milestone: It’s set to overtake the UK to become the world’s fifth largest economy.

Make hay while the sun shines

ALMOST five months ago, this column called for the benchmark FBM KLCI to have a fair value of 1,600 points for this year as market’s valuation were then stretched when compared with the regional markets (StarBiz, Dec 8, 2018).

EPF, PNB not GLCs; only Khazanah, KWAP are: Shahril

KUALA LUMPUR: The Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) should not be classified as government-linked investment companies (GLICs) because their source of funds is money from their members and has nothing to do with the government.

“When you actually look at the question of what is a GLC or GLIC, you have to be very clear on the definition of what really is a GLC.  “I was running the EPF and the point of view is that the EPF should not be a GLC. The source of funds of the EPF and PNB is actually the members’ money. It has nothing to do with the government,” Shahril (pic) said.

Cutting corporate tax may help raise collections

KUALA LUMPUR: A bold move by the government to lower corporate income tax could help boost overall tax collections in the country, said Ernst & Young (EY) Tax Consultants Malaysia tax leader and business tax services leader Amarjeet Singh.

“This is my suggestion based on observations from case studies done in the United Kingdom and Canada,” Amarjeet told StarBiz on the sidelines of the Malaysian Tax Conference 2019.

Aramco rated the world’s most profitable companyin 2018

LONDON: Saudi Aramco was the world’s most profitable company in 2018, easily surpassing US behemoths including Apple Inc and Exxon Mobil Corp, according to accounts published by ratings agencies before the firm’s debut in the international bond market.

New group CEO for TDM

KUALA LUMPUR: Terengganu state-owned plantation arm TDM Bhd has appointed Zainal Abidin Shariff as the new group CEO with effect from yesterday.

TDM chairman Raja Datuk Idris Raja Kamarudin(pic) said TDM has a responsibility to its shareholders to create and deliver value.