Is stamping of employment contract mandatory in Malaysia? Yes, stamping an employment contract is mandatory under Malaysian law. Subsection 4(1) of the Stamp Act, 1949 (“the Act”) requires that any instrument specified in the First Schedule must be stamped based on the prescribed rates set out in that Schedule.

An e-Invoice is basically a digital version of a regular invoice. it is created in a way that follows the specific rules set by the Inland Revenue Board of Malaysia (“IRBM”) so everything is standardized and easier to handle electronically. Are MSMEs in Malaysia required to issue e-Invoice? Everyone who runs a business in Malaysia are required to implement e-Invoice, based on the timeline outlined in Question 2.

In Malaysia, the first financial statements of the company are required to be prepared by the directors within 18 months from the date of its incorporation. Subsequently, they must be prepared within 6 months of the company’s financial year end. The company has the freedom to decide its own financial year end, as there is no provision in the CA 2016 in relation to the fixing of financial year end of a company.

The Inland Revenue Board of Malaysia has issued a Guidelines on the Stamping of Share Transfer Instruments for Shares that are not quoted on the Kuala Lumpur Stock Exchange on 23 June 2020 to replace/cancel the guidelines issued on 6 November 2019.