Zilliqa is a blockchain platform for decentralized apps under development attempting to address blockchain scalability primarily through sharding. The development of the platform was inspired by Elastico, a sharding protocol developed at the National University of Singapore. On October 12, 2017, Zilliqa claimed to have developed a testnet with sharding capable of processing 2,488 transactions per second. Zilliqa tokens are called Zillings (ZIL). It is used to pay for the services provided by the nodes.
HIRE FOREIGN WORKERS QUICKLY AND EASILY WITH FOREIGN WORKERS EMPLOYMENT FLEXIBILITY PLAN
2023-02-10
Malaysia’s economy is highly reliant on foreign workers, with the manufacturing and construction sectors having the highest demand for labour. The country’s workforce is mostly composed of low-skilled and semi-skilled foreign workers, with the majority coming from neighbouring countries such as Indonesia, Bangladesh, and Nepal. In recent years, the shortage of labour in these five sectors—planting, agriculture, manufacturing, construction, and the service sector (restaurants only)—has been steadily increasing due to the country’s rapid economic growth.
To ease the hiring process and provide more flexibility for employers, the Malaysian government has introduced the Foreign Worker Employment Flexibility Plan (FWEFP), which starts from January 17th to March 31st, 2023, and will allow employers to hire foreign workers from 15 countries without going through the pre-conditions of employment and quota eligibility. The Plan is open to employers in the plantation, agriculture, manufacturing, construction and service sector (restaurants only).
How to Apply for the Foreign Worker Employment Flexibility Plan
Submit an application to the Ministry of Human Resources and wait for a conditional approval. With the approval document, make a levy payment at the Malaysian Immigration Department. Identify foreign workers to undergo health screening in the source country before departure to Malaysia. Complete the Visa with Reference (VDR) application, the Single-Entry Visa application abroad, the immigration process at the international entrance, the health screening of foreign workers in the country, and then the issuance of the Temporary Work Visit Pass (PLKS). Foreign workers to arrive safely at your business. Comply with the pre-conditions that were excluded in the initial stage within 6 months. Failure to do so may cause you to be subject to action in accordance to the relevant act.
Benefits of Foreign Worker Employment Flexibility Plan
The FWEFP provides employers with more flexibility when hiring foreign workers. By providing employers with a more streamlined and transparent process, it enables them to hire the workers they need in a timely manner. This helps employers fill their labour shortages and ensure that their business operations run smoothly and efficiently.
In addition, the FWEFP helps protect the rights of foreign workers. By providing a work permit, foreign workers are guaranteed basic labour rights, such as a minimum wage and the right to exercise their freedom of movement. This helps to ensure that foreign workers are treated fairly and with respect.
Where to Apply?
Ministry of Home Affairs Employers can submit their applications for the FWEFP to the Ministry of Home Affairs. Applications can be submitted online or in person at the Ministry’s offices.
MYEG Still sound too complicated and troublesome? Don’t worry. MYEG is here to support and advise you throughout the whole process. This allows you to focus on your business and let our experienced staff handle everything for you. Contact us via WhatsApp message now for assistance at +6012 203 6529 or fill up this form and our staff will be in touch soon.
2023-02-15 In Malaysia, every vehicle user is required to renew and pay their road tax as a prerequisite for using the road. Failure to renew an expired road tax is a criminal offence which may result in penalties. With recent updates by the government, here is all the crucial information you need to know:
What is road tax?
Road tax is a tax document that every vehicle user in Malaysia must possess to use the road. Failure to renew it will result in a fine. The amount of road tax is calculated based on the vehicle’s engine capacity, location, body type and ownership.
What will happen if the road tax is not renewed?
Driving with an expired road tax is a serious offence that will result in penalties from the Road Transport Department Malaysia (JPJ) officer as well as your inability to file an insurance claim in the event of an accident. Before you renew your road tax, you would need to renew your car or motorbike insurance.
Is it necessary to display road tax on car windscreen?
With effect from 10 February 2023, it is no longer compulsory to have the road tax displayed on a private vehicle windscreen. It is entirely up to the car owner’s discretion to keep a digital copy of the road tax on the MyJPJ mobile app or to have a physical copy of the road tax. While MYEG users can continue to choose to have their road tax stickers delivered to their preferred locations, or pick them up at our customer service centre, they can also now opt out of receiving physical copies of their documents altogether.
How much is the road tax for your car?
Wondering how much you need to pay for your car’s road tax? Here is the road tax price in West Malaysia:
Road Tax Rate for Private Cars in West Malaysia
Road Tax Rate for SUV/MPV in West Malaysia
How to renew road tax? JPJ You can renew your road tax on the mySIKAP app or go to the JPJ office nearest to you.
Post Office Alternatively, you can renew your road tax at any Pos Malaysia branch. If you choose to process your road tax renewal at the post office, you will need to provide some documentation such as IC, insurance cover and vehicle ownership certificate.
MyEG MyEG counter is also another option for those who want to renew their road tax in person. However, if you prefer the convenience of renewing your road tax from the comfort of your home or office, you can choose to do so online via the MyEG Web Portal. In conclusion, having a road tax – physical copy or not – is a mandatory requirement if you own a vehicle to avoid serious on the road.
Zakat is one of the five pillars of Islam. It aims to redistribute wealth between the rich and poor and to purify the wealth of those who pay zakat. There are two types of zakat: Zakat Fitrah and Zakat Harta.
Zakat Fitrah
Zakat Fitrah is a charge imposed on every Muslim that must be paid annually. The amount stipulated is the same regardless of age, gender or wealth. Muslims pay their zakat fitrah during the holy month of Ramadan as they are obligated to pay it before the Eid prayers. The rate of Zakat Fitrah is equal to the value of a bushel of rice weighing 2.7 kg. This rate originated from the days when people paid their zakat fitrah with actual sacks of rice. These days, they would pay the equivalent monetary value of the amount.
In Malaysia, each state declares its own zakat rate based on the price of its local rice. The amount of zakat fitrah per person usually remains below RM10, though for those with stronger financial means, they can choose to pay zakat fitrah according to the price of the brand of rice they consume. At MYEG, you can pay and calculate zakat fitrah online through our portal without the hassle to go to the official zakat branch. Register now to access the service!
Zakat Harta
Every Muslim who meets Zakat Harta’s minimum requirement is obliged to pay. There are various types of Zakat Harta, which are:
Zakat on Earnings Zakat on Business Zakat on Savings Zakat on Gold and Silver Zakat on EPF Zakat on Farming Zakat on Livestock The most common type of Zakat Harta in Malaysia is Zakat Pendapatan (Zakat on Earnings). Muslims who have been employed for more than a year and receive an income that is above the minimum amount set are obliged to pay their Zakat Pendapatan. The minimum amount, called nisab, is equivalent to 85g of gold and varies periodically from state to state.
Any Muslim who meets nisab requirements is obligated to pay 2.5% of his or her income as zakat. This income would include all types of wages, salaries, payments or products obtained from work such as salaries, bonuses, commissions, royalties and, freelance payments as well as rental income.
How to Pay Your Zakat?
Malaysian Muslims are encouraged to pay zakat to the government zakat collection centres for proper distribution to the needy. An alternative method to pay zakat is through a monthly payroll deduction system. To avoid issues with the monthly tax deduction for income tax, employers can make the necessary adjustments to ensure that the monthly zakat deduction is deducted from the monthly tax amount. Listed below are the different methods you can pay your zakat:
Official zakat website of each state Internet banking MYEG portal Official zakat branch Post office Selected banks or ATMs Official agents You can also check your respective state's official zakat website for legitimate payment methods.
Zakat Reliefs and Rebates
Just as one would be eligible for tax reliefs and reductions when paying income tax, the same applies to the zakat system, where payers are allowed to claim certain deductions from the amount of zakat they have to pay. Indicated as kifayah (minimum needs for an individual or family), it’s different from state to state as determined by each state's Islamic religious council. The types of expenses that can be deducted from zakat calculations include self, wives, children, parents, EPF deduction, education, etc.
Zakat As Income Tax Rebate in Malaysia
One of the advantages of paying zakat is that it serves as a rebate in your annual income tax. A tax refund is a reduction in the actual amount of income tax you have to pay, unlike a tax relief, which simply reduces the amount of your taxable income. The limit on the amount of tax refund you can claim for zakat is subjected to the maximum tax charged. Paying zakat can help you significantly reduce the amount of income tax that you need to pay and this discount can sometimes be enough to reduce the amount of income tax to RM0.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
i3lurker
14,390 posts
Posted by i3lurker > 2023-02-20 11:26 | Report Abuse
to some people being on watchlist and told not to be involved means its a very good company, must transact/invest/buy.
Posted by DickyMe > 2 minutes ago | Report Abuse
Isn't Binance on authority's watchlist and investors are advised to avoid it?