Taxation Service

Corporate Tax Agent

Upon company incorporation, it is advisable to fix your financial year end and to appoint a tax agent so that he or she can monitor your tax compliance deadlines.

It is not advisable for business owners to file their own company taxes as they are complex and may miss opportunities where they can be optimized. Business owners are best to focus at running their business and let tax agents perform the tax computation and filing with the Inland Revenue Board of Malaysia (IRB).

Corporate Tax Compliance & Planning Services

Tax is one of the inevitable parts of a business. As such, the cost of improper or inadequate handling of tax issues could be devastating and might restrict the development of a company. Often, the corporation tax compliance involves a large amount of management time, effort, and costs.

Under the self-assessment system, the burden of computing the tax liability is shifted from the Malaysia Inland Revenue Board (IRB) to the taxpayer and, accordingly taxpayers are expected to compute their tax liability based the tax laws, guidelines and rulings issued by IRB. The Tax Returns submitted will no longer be subject to a detailed review by the IRB, but would be deemed as notices of assessment being served on the taxpayer.

In view of the above, tax compliance has never been so important Corporate Tax Compliance Obligations for the details. Failure in complying with the income tax requirements represents not only a financial risk i.e. financial penalties and possible increase in the tax charge but also a serious business risk, as it can damage the taxpayer’s reputations and brand name.

Our commitment to ensure customer’s data integrity and confidentiality. Timely status report as well as provide cost effective and accurate deliverables. Different type of businesses:-

  • Corporate Tax Compliance Services
  • Associations, Clubs, Management Corp.
  • Tax Planning & Advisory Services
  • Personal & Other Tax Services

Tips for Income Tax Saving

Every taxpayer who is liable to tax is required to declare his income to Inland Revenue Board of Malaysia (IRBM). Tips for Income tax saving :

  • Claim all possible tax deduction
  • Submit and pay income tax on time
  • Follow Income Tax Act
  • Apply for tax incentive
  • Seek the advice of tax consultant
  • Be charitable
  • Earn Tax-free income
  • Reduce Your Tax Rate

Penalty For Late Payment

If the balance of tax payable is not paid by the due date, a penalty of 10% will be imposed on the outstanding amount. If the tax payable and penalty is still outstanding within 60 days from the due date, an additional penalty of 5% will be imposed on the tax and penalty outstanding.

Appeal On Penalty

If the balance of tax payable is not paid by the due date, a penalty of 10% will be imposed on the outstanding amount. If the tax payable and penalty is still on appeal in writing within 30 days from the statement of account can be submitted to the relevant branch (Collections Unit), if the company does not agree with the late payment penalty imposed.

The company has to pay its tax liability first irrespective of any appeal.