Tax Planning for Individual Income Tax in Malaysia
Are you looking for ways to reduce your taxable income and save more on taxes? 💰 The first step is to start early and plan ahead. It’s very important to estimate your income taxes for the particular year and make sure you qualify for the right tax deductions 👍🏻 Two Things To Remember: 📝 While […]
Get Your Income Tax Act Together – Starting With EA Form
💰 A REMINDER FOR ALL EMPLOYERS 💰 You need to prepare and render to all employees (including new, existing and resigned) a statement of remuneration (EA for private sector employees; EC for public sector employees) on or before the last day of February – for employees to complete and submit his/her personal tax return 📝 […]
4 Reasons To Run Your Business On Xero’s Online Accounting Software
Are you looking for an all-in-one online accounting software? Let me introduce you to Xero which is designed to make life easier for SMEs – any time, anywhere 💯 Here are some of my favourite features: 🌟View invoices, contacts and accounts online. 🌟Easily sync bank and financial information. 🌟Invite advisors in and work together anywhere. […]
📢 Attention to Individuals With Foreign-Sourced Income [FSI] 📢
The Ministry of Finance (MOF) just updated that the government has agreed to EXEMPT all types of foreign incomes of individuals from tax, and has also extended the exemption to dividend incomes earned by limited liability companies and partnerships. 🗓️ The exemption would be effective for 5 YEARS from Jan 1, 2022 until Dec 31, […]
How to Register Tax in Malaysia
Before we wrap up the year, let’s make sure we are compliant with the tax law in the country 🇲🇾 As a refresher, the Inland Revenue Board [IRB] or also know as LHDN, requires individuals earning a minimum of RM34,000 after EPF deductions to register a tax file. This is roughly RM2,833 per month or […]
Factors to Consider When Hiring a Company Secretary
This may come as a surprise to some, but company secretaries actually do more than just filing paperworks, answering office phones and scheduling appointments. In fact, a company secretary plays an integral role in a company and should meet the requirements stated in Section 235 of the Companies Act 2016. Here are some crucial factors […]
Types of Taxes in Malaysia for Companies
Malaysia is one of the countries who implements territorial tax system – basically any income accrued in or derived within Malaysia is liable to tax. Here’s an overview of the type of tax liable by companies registered in Malaysia. Types of Tax Liable by Companies Registered in Malaysia Corporate Tax A corporate tax is imposed […]
Corporate Compliance in Malaysia Statutory Declaration
A statutory declaration is like the magic piece of paper (a written oath) which is useful for company registration, as proof of debt and to confirm facts before the authorities. In fact, it’s actually a very common practice among the business owners in Malaysia. Want to get a statutory declaration but worried about the pandemic? […]
3 Types of Shareholder Meetings in Malaysia
Are you a shareholder of a company? If yes, make sure to attend the annual general meeting (AGM) and extraordinary general meeting (EGM). These meetings provide links of communication between shareholders and management and enables members to exercise their votes. Here’s a brief overview on the 3 types of shareholder meetings in Malaysia. Why is […]
Tax Awareness for Employers in Malaysia
As an employer in Malaysia, there are a couple of employer tax obligations that you have to comply with. Here’s a comprehensive list to help you before any officers from the Inland Revenue Board make that unexpected appearance at your doorstep. If you need help with Employer Tax Obligation Review or Audit, feel free to […]