Key Differences Between GST & SST in Malaysia
Did you know that with the introduction of SST, we enjoy the advantage of a lower cost of living because the seller pays the sales tax at the point of sale ONLY ONCE 🙌🏼 🧾 If you are wondering what are the differences between the former GST system in Malaysia and the new SST system […]
Do Foreigners Need to Pay Tax in Malaysia?
Confused about income tax in Malaysia? 🤑 Don’t worry! In the coming weeks, we will be sharing and answering some important questions about the tax approach, taxable rates, exemption list, filing obligations and more! 📝 We know the tax code is complex and constantly changing, so let us help and guide you. Today we will […]
Corporate Tax Planning in Malaysia to Reduce Tax Burden
As a business owner, you probably spend a lot of time stressing about tax burden and compliance 😖 What if we tell you there’s actually a way to ease that burden? How? With effective TAX PLANNING! 💯 Yes, you read that right! With tax planning, you can implement strategies to potentially reduce tax liability by […]
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 […]