What is Personal Income Tax?

Personal income tax is a type of tax that is charged by governments (Inland Revenue Board (IRB)) on income generated by a business (sole proprietor or partnership) and individuals in Malaysia. In addition, there are 2 types of personal income tax in Malaysia, which is charged on a resident individual and non-resident individual who receive income in Malaysia and outside Malaysia that their income is derived or deemed derived in Malaysia. It is important for an individual to define he or she is a resident or non-resident in Malaysia. A person who is individual resident in Malaysia will enjoy personal relief and lower tax rates compared with an individual non-resident. Under Malaysia Income Tax Act 1967, there are quantitative tests to determine the residence status of individuals. Income tax is a direct tax, whereby taxpayers must file an income tax return levied by the Inland Revenue Board (IRB) when every calendar year determines their tax obligations.

Our services

• Preparation of the income tax computation and filing the personal income tax return form to IRB.
• Advise and aid individuals to submit their taxes with a monthly tax deduction (MTD) follow the Form CP500.
• Prepare and submit Form B on every calendar year of 30 June (Personal tax with business income).
• Prepare and submit Form BE on every calendar year of 30 April (Personal tax with employment income).
• Prepare and submit Form P on every calendar year of 30 June (Partnership).
• Prepare and submit Form M on every calendar year of 30 April or 30 June (Personal tax for non-resident).

As an independent professional person, our tax compliance and advisory group can advise and guide you with managing your tax risks. We are able to assess all perspectives of the regulatory compliance services for you in accordance with the Income Tax Act 1967. Where we able to bring you a satisfaction suggestion with an increasingly complex tax landscape and efficiency. Next, we will depend on your situation and analysis your condition by giving the best advice to assist you.

Our services

• Recognize and evaluate tax risk in all aspects and provide accurate solutions.
• Define the opportunities for tax savings and claiming of tax incentives.
• Offer the quality preparation of tax returns and the tax computations on a timely basis.
• Advice on initial startups for foreign companies starting business in Malaysia.
• Structuring of companies and operations to optimize tax benefits.

Tax audit is a primary activity of the tax authorities under the Self Assessment System [“SAS”] in enhancing and encouraging voluntary compliance with the tax laws and regulations. It also ensures that a higher tax compliance rate is achieved under the SAS. A taxpayer can be selected for audit at any time to ascertain that the amount of tax reported and paid are in accordance with the tax laws and regulations.

Other than tax audit, tax investigation is a more severe enforcement measure taken by the tax authorities to ensure compliance with the tax legislations by taxpayers. Generally, tax investigation will be carried out should there be a suspicion – based on precise and definite evidence – that a taxpayer is deliberately trying to avoid paying tax or has committed an act of wilful evasion under the tax laws. More often than not, both tax audit and tax investigation will result in additional taxes and penalties payable on under-statement or omission of income.

As such, our methodologies and good rapport with the tax authorities put us in an advantageous position to resolve tax audit and investigation cases for our clients in a swift and amicable manner, resulting in lower tax and penalty payable.

Our tax audit and investigation services include:

• Replying to queries raised by the tax authorities
• Preparation of workings, computations, reconciliation and supporting schedules required by the tax authorities
• Reviewing and appealing on proposals given by the tax authorities
• Submitting alternative proposals to the tax authorities to resolve issues in dispute
• Attending meetings and discussions with the tax authorities in the pursuit of an amicable settlement with the tax authorities

As a pre-emptive measure in mitigating the potential taxes and penalties by ensuring compliance with the tax laws and regulations, we also provide a “prudential tax audit” (a.k.a. health check) for the purpose of identifying significant areas of concerns and recommending corrective actions.

Our “prudential tax audit” services include:

• Undertaking a high level review of the financial statements, tax returns and computations, etc. to identify significant areas of concerns
• Reviewing supporting documents to confirm that the tax treatments adopted are in order
• Recommending corrective actions

What is Corporate Tax?

With the increasing of legislation and regulation on Malaysia Income Tax, we play a crucial role to provide and assist you on corporate tax compliance matters, including filing of tax return and tax estimation. Our tax team always performs and provides the best professional practice to assist clients in resolving corporate tax matters and managing tax risks. Effectiveness and efficiency are always our mission in tax professionalism.

Our services

• Preparation and submission of corporate tax returns.
• Preparation and submission of Form E, Form EA and Form CP58.
• Advisory, submission and revision of tax estimation.
• Advisory and assistance of tax audit and tax investigation.
• Advisory and consultation on tax compliance matters.
• Review of past tax returns to manage tax risks.

What is Sales & Services Tax (SST)?

Sales Tax is a single stage tax levied and charged on all taxable goods manufactured in or imported into Malaysia, either at the time of importation or when the goods are sold or otherwise disposed of by the manufacturer.

Service Tax is a form of indirect single- stage tax imposed on specific services which is included in the list of taxable services prescribed by the Minister under the First Schedule of the Service Tax Regulations 2018.

A person who manufactures taxable goods and is liable to be registered if the annual turnover has exceeded RM 500,000 threshold. Service Providers rendering taxable services are liable to be registered if the annual amount exceeds RM 500,000. The registration threshold for a restaurant or any other catering business is RM 1,500,000.

As the guidelines will change from time to time, we are here for you  by delivering and updating the latest rules and regulation, assisting you to overcome any reflect changes by applying our experiences and excellent attitude.

Our Services

• SST Advisory

Provide SST advice related to taxable business process.

• SST Registration

Revenue analysis and apply for SST.

• Apply for SST Exemption

Exemption application for all schedules under Sales Tax for the persons exempted from payment to tax.

• SST Accounting

Provide guidance in issuance of SST invoices, book-keeping and preparation of full set account in accordance with the Sales & Service Tax Act 2018 by using accounting software.

• SST Return Review

Provide guidance in SST Return and declare SST Return bimonthly.