consulting services

Tax Matters – Four more days to seize Self Voluntary Declaration Programme opportunity

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Tax Matters – Four more days to seize Self Voluntary Declaration Programme opportunity

The Self Voluntary Declaration Programme (SVDP) by the Inland Revenue Board (IRB) and the Royal Malaysian Customs Department (RMCD) is an amnesty programme that allows taxpayers to declare undeclared or underdeclared income without penalties. The programme ends on May 31. Taxpayers can participate for income tax, real property gains tax, stamp duty, sales and service tax, and goods and services tax purposes. All taxpayers, including individuals and corporate taxpayers, are encouraged to review their past declarations and declare any understatements to avoid future audits. The declaration must be complete and supported with proper documentation. If fraudulent, the IRB or RMCD may open a case for investigation.

Do you remember the terminal?

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Do you remember the terminal?

President Christodoulides visited the Vassiliko construction site to chat with the Chinese CPP company workers, who had resumed welding for the natural gas storage infrastructure. Despite progress on welding, the jetty remains unfinished due to disagreements between CPP and the Natural Gas Infrastructure Company. CPP terminated collaboration with a Cypriot contractor, causing delays in the project. The completion of the project by the promised deadline of 2024 seems unlikely. Additionally, the construction of the natural gas transportation system is stalled, further prolonging the project. This indicates that the project will take more time and resources than initially anticipated.

Cyprus promoted in Japan as emerging tech hub

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Cyprus promoted in Japan as emerging tech hub

Fact: Chief Scientist Demetris Skourides presented Cyprus’ “Cyprus 2035” long-term strategy to make the country one of the most desirable for living, working, and investing in, focusing on technology, research, and innovation.

Presidential advisor appointed as Central Bank governor

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Presidential advisor appointed as Central Bank governor

Fact: Christodoulos Patsalidis has been named as the new Governor of the Central Bank of Cyprus by President Nikos Christodoulides and will assume his duties on April 11, succeeding Constantinos Herodotou.

Accenture fans IT industry spending gloom with annual forecast cut

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Accenture fans IT industry spending gloom with annual forecast cut

Accenture, an IT services provider, reduced its fiscal-year 2024 revenue forecast due to an uncertain economy leading clients to reduce spending on consulting services, which resulted in a 5.6% drop in its shares in premarket trading. The company now expects a full-year revenue growth of 1% to 3%, down from the previously forecasted 2% to 5%. Accenture has faced sluggish demand for its IT and consulting services, prompting layoffs and severance-related costs of 0 million this fiscal year, following .1 billion the previous year for cutting around 19,000 jobs, or 2.5% of its workforce. Rivals Tata Consultancy Services and Infosys also reported lower quarterly results earlier in the year. Analysts from Baird Equity noted a deceleration in industry growth over the past six quarters and suggested it might take years for Accenture to return to mid- to high-single-digit organic growth. The company forecasted third-quarter revenue between .25 billion and .85 billion, below the estimated .01 billion. New bookings fell 2% to .58 billion for the second quarter, with revenue for its Communications, Media & Technology segment decreasing by 8% year-over-year. Accenture reported a revenue of .80 billion, slightly below the analysts’ estimate of .84 billion, and an adjusted earnings of .77 per share, compared to the estimated .66 per share.