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History does not stand still, so nor does intellectual property law. 2016 and so far in 2017 we have seen change and the indication of upheaval to come.
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The goods and services tax (“GST”) has been with us since 1 April 2015 and we have seen its impact on various parts of our lives. In theory, it is a relatively straightforward tax regime that can nevertheless prove difficult in practice, especially in relation to GST on real estate transactions.

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When the goods and services tax (GST) was first introduced to replace the general sales tax and service tax regimes in 2015, the overarching concern for businesses was the implementation and administrative aspect. As companies scrambled to understand the rules and procedures in order to facilitate the rollout of GST, many, if not all, would have neglected or overlooked the fact that this transition would trigger a double collection of taxes for goods still held as stock across both tax regimes.

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The enforcements of customs valuation and transfer pricing are the epitome of similar means and different goals to achieve the same end. The means of valuation and pricing are similar in the form of the valuation and pricing methodologies. However, the goals are at two ends of the spectrum: the former wants the highest appraised value of imports; the other, the lowest possible level to maximise taxable profits. Such paradoxical treatments are largely unregulated, not less due to regulators themselves being beneficiaries of the ultimate end in the form of higher revenue collection.

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When we ordinarily refer to compliance in goods and services tax (GST), what strikes our minds is the filing of GST returns and settling the GST due within the stipulated taxable period. It has been more than two years now since the implementation of GST in Malaysia. The compliance rate for GST filing thus far has been high, with an average rating of above 95%.

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While fintech has generated a lot of attention in recent years, it is not actually new. From ATMs to contactless payments, technology has been influencing the financial sector and the way we interact with money for decades. So why the recent surge of interest and what has Scotland got to do with it?

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It is difficult to work in financial services and not hear the word ‘fintech’ on a daily basis. But what is fintech and why the hype? In its purest form fintech is the fusion of financial services and technology. There is also ‘insurtech’ (the use of technology in insurance) and ‘regtech’ (the use of technology which enables financial services organisations to comply with their regulatory obligations).

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It is difficult to work in financial services and not hear the word ‘fintech’ on a daily basis. But what is fintech and why the hype? In its purest form fintech is the fusion of financial services and technology. There is also ‘insurtech’ (the use of technology in insurance) and ‘regtech’ (the use of technology which enables financial services organisations to comply with their regulatory obligations).

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